Closed-end real estate investment company Warehouses De Pauw (WDP) is investing in two new projects, one in Genk and the other in Kortenberg.
Logistics park Hermes. Circled is the area that WDP has acquired.
In Genk WDP will be realising its first major project in Limburg with the acquisition of a site of 60,000 m² in the logistics park 'Hermes'. The Hermes park is located next to the E314 and in the vicinity of Genk harbour. The park comprises over 500,000 m² storage space. WDP will start early 2007 with the construction of a property of at least 10,000 m² on the site which, in addition has further potential for expansion with 20,000 m².
In Kortenberg near Zaventem Airport, the real estate investment company is acquiring an existing property of 5,000 m² that has a fixed lease for 10 years. The investment for this purchase is €4.6 million.
These acquisitions mark the completion by WDP of the allocation of the first €100 million of its strategic growth plan in various projects in its home market.