Belgium’s WDP Acquires Romania’s Doraly Expo Market
In a significant move in the Romanian real estate market, Belgian logistics property giant Warehouses de Pauw (WDP) has expanded its European footprint by purchasing the renowned Doraly Expo Market. This acquisition marks a notable development, as Doraly Expo Market stands as Romania’s oldest wholesale center. The transaction details were facilitated and announced by real estate consultancy iO Partners, highlighting the continuous growth and interest in the Eastern European real estate sector.
Established in 1993 by Romanian investor Gheorghe Iaciu, Doraly Expo Market is strategically located in Bucharest, Romania’s bustling capital. The market spans an impressive 110,000 square meters and is home to over 400 traders. This hub has long been a cornerstone for the trading community, offering a wide range of goods and services.
Following the acquisition, WDP and the initial management team, including Iaciu, are set to collaborate closely. This partnership aims to ensure the seamless continuation of operations at Doraly Expo Market, with WDP taking the helm of asset management. The collective expertise of both teams is expected to drive forward the market’s success and foster further development.
iO Partners, the real estate consultancy that brokered the deal, has demonstrated remarkable performance in the region. “The real estate consultancy closed transactions worth almost 300 million euro ($323.6 million) in the first quarter of 2024,” stated Andrei Vacaru, iO Partners CEE head of capital markets. Based in Vienna, iO Partners has established itself as a key player in the real estate consultancy field, offering services across Romania, Serbia, Czech Republic, Slovakia, and Hungary, further solidifying its presence in Central and Eastern Europe.
WDP’s acquisition of Doraly Expo Market aligns with its strategic vision to expand its portfolio and strengthen its position in the European logistics and real estate market. As a developer and investor specializing in logistics property—primarily warehouses and offices—WDP boasts a substantial property portfolio. Spanning approximately 7 million square meters, their portfolio is strategically located at prime logistics locations across Belgium, France, the Netherlands, Luxembourg, Germany, and Romania. Notably, WDP’s property assets in Romania alone account for almost 1.7 million square meters, showcasing the company’s commitment and bullish outlook on the Romanian market.
This acquisition signifies a key milestone for WDP, further cementing its status as a leading developer and investor in the European logistics and real estate sectors. The collaboration between WDP and the Doraly Expo Market’s existing management team paves the way for a promising future, characterized by sustained growth and innovation. As the market continues to evolve, the combined expertise and resources of WDP and the Doraly management team are expected to bring about significant developments, benefiting traders, consumers, and the broader Romanian economy.
