The Israel Land Development Company (ILDC) has identified the growth potential in the Logistics Parks field in Poland and since 2002 ILDC holds (indirectly) shares in the Polish Company MLP (Millennium Logistic Parks) Group. Currently ILDC holds approximately 38% of MLP shares, that as of October 2013, is a Public Company which is traded on the Warsaw Exchange.
MLP is engaged in the development, leasing and ongoing operations of logistic centers and light industries and holds logistics parks in Poland. The total area of the parks is approximately 2 million sqm, on which storage, industry and office buildings on an total area of 1 million sqm, may be constructed. The company is considered as one of the biggest of its type in Poland and a leader in the field of constructing specialized industrial buildings for rental. The Company uses the vast knowhow and experience it has accrued to market the buildings and adapt them to the special needs of each customer. The buildings’ occupancy rate is more that 95%.
In September 2015 MLP signed two agreements regarding the sale of its holdings in Tyche Park and in Bierun Park in Poland, for the total amount of € 80 million. Under certain conditions, the consideration may rise to € 89.6 million, and in that case MLP will have free cash flow of € 34 million and it will record a capital gain in the amount of € 8.6 million.
Millenium Park Proshkov 1
Millenium Park Proshkov 2
Millenium Park Poznan