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Big leases by Chinese investors

Rafał Ostrowski 10 October 2017

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

Big leases by Chinese investors
BWI began its production in Panattoni Park Cheb in the autumn of 2016

CZECH REPUBLIC Chinese logistics providers are increasingly active on the Czech warehouse market, three of which have leased 100,000 sqm of space in the last 18 months, claims local real estate consultancy 108 Agency.

The largest of the transactions was a 68,000 sqm lease by 4PX Express, which is a logistics division of Chinese e-commerce company Alibaba. This transaction ranks among the largest single industrial transactions of the year.

“Currently, Chinese companies operating in the Czech Republic are mainly engaged in logistics and e-commerce. They are expanding from Western Europe, where they already have well developed facilities. To some extent they are following the moves of their global competitors. A good example is Amazon, which opened a warehouse in Dobrovíz near Prague about two years ago. In mid-2017, in Jeneč near Prague, the logistics division of its Chinese rival Alibaba signed a lease as well,” said Peter Kolenčík, a senior consultant at 108 Agency.

According to Jakub Holec, a partner at 108 Agency, Chinese companies that are currently interested in the Czech industrial real estate market have already signed business contracts with Czech or German companies and need to start providing their logistics services as soon as possible. “They are acting mainly as subcontractors to automotive industry or in e-commerce. High demand for industrial premises has been seen in Prague West and North-Western Bohemia, an example of which is BWI, a Chinese manufacturer of shock absorbers for luxury automobile brands, which began its production on 15,000 sqm in Panattoni Park Cheb in the autumn of 2016,” he explains.


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