Waimea Holding plans to start the construction of three new warehouse developments this year

The Waimea Group is almost done with its key project, North-West Logistic Park in Szczecin. We are working now on the last building, it will be ready in May. Together, there is 64,000 sqm of A class warehouse space. Foreign, mainly Scandinavian, production companies are our main tenants. This park was scheduled to be finished in 2017, but it is about to be ready already now, so we are starting works on the next three projects: in Bydgoszcz, on a 18ha plot, East A4 logistic park near Ukrainian border, I think, now it is already good moment to start this project, and the third - the next park in Szczecin, on a 10ha plot. Together it will be 200,000 sqm. Now, we see the largest interest in the park in Bydgoszcz, so probably we will have a build-to-suit instead of planned speculative project. In Szczecin and East A4 we will have probably first contracts by the work start. We have now two letters of intent, so the first lease contracts should be signed until May. There are two tenant groups that appeared. First - companies interested in food trade with Eastern markets. They need warehouses with freeze rooms. We have found an investor that will build for us a bio-gas plant to provide us with cheap thermal and electric energy. Both investments will be build in the same time. The second group of customers is production sector. Companies want to take advantage of the cheepest in Europe work force that is available in the region. Ukrainians can work there without visas, additionally the Podkarpacie region has itself very high availability of workforce.