Panattoni, Europe’s largest industrial developer, is entering a new market. The company has announced the opening of an office in Hungary, and has already secured two projects in the Budapest market.
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Panattoni’s expansion continues. The developer is already present in the US, Canada and the largest warehouse and industrial markets in Europe - Germany, the UK, Netherlands, Czech Republic, Poland and Spain. In May 2021, the developer is entering Hungary.
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“Our clients are companies that operate in many European markets. We want to give them the best possible conditions for functioning in each of these markets, providing them with the highest-class warehouse and production space,” explains Robert Dobrzycki, the CEO of Panattoni.
He points out that one of the main reasons for this latest expansion is the strength and potential of the Hungarian market: “As with other countries of the region, the global pandemic has had little impact on the Hungarian real estate warehouse and industrial sector."
The country is also set to benefit from new trends that were strongly evident last year, including the growth of e-commerce, as well as the fact that many Asian companies are looking for alternative locations for warehouses and production plants in the region.
"In addition to that, Chinese finance is being used for the construction and modernisation of a high-speed railway between Budapest and Belgrade, which will connect the Balkans with a special transport route to the now Chinese-owned Piraeus seaport in Athens."
"Hungary is thus becoming an increasingly important bridgehead for the Chinese in Europe and a gateway into Western countries. Upon the completion of this project, the country will be in strong position to be able to compete with major logistics hubs across Europe.”
Panattoni is an undisputed European industrial market leader. The company has, for the fifth time in a row, taken first place in Property EU magazine’s Top Logistics Developers ranking.
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Robert Dobrzycki says: “Around 25% of all our projects are highly technologically advanced production facilities. Panattoni specialises in the construction of this type of facility, tailored for a specific client. The disruption to supply chains caused by the pandemic has been leading many companies to consider relocating their manufacturing businesses or parts of them to Europe to be closer to their customers. The Central European markets in which we operate can only benefit from this.”
In its more than 15 years of activity on the European market, Panattoni has completed projects with a combined area of more than 12 million sqm. These include both BTS production facilities and more than 200,000 sqm of specialised centres designed for major e-commerce players.
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