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Etalon sees 10 pct asset growth
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Panattoni closes on its German targets

Eurobuild CEE 12 March 2018

EUROPE/GERMANY With 800,000 sqm developed in the last three years Panattoni Europe is coming close to achieving its target of developing 1 mln sqm of industrial and logistics real estate in Germany.

Since its realignment in the market in 2015, Panattoni has developed 32 projects across the country. Fred-Markus Bohne, managing partner of Panattoni Europe expects demand to remain at a continuously high level throughout 2018. “The structural changes in industry and trade due to digitalisation and the continuing expansion in the e-commerce sector are the main drivers of further development in the logistics real estate sector,” he says.

In Bohne’s view, both user demand as well as the interest of the capital markets will remain stable or increase further, and this trend will continue in 2018. However, development activity could be restricted by the scarcity of suitable property sites, especially in metropolitan regions. Furthermore, the current boom has resulted in a shortage in capacity in the construction sector. Another trend is the increasing amount of time required by authorities to process applications for building permits. “Protracted approval procedures mean that the time available to complete buildings by the date required by customers becomes shorter and shorter. This is a difficult balancing act that we have to contend with more and more often,” Bohne explains. Panattoni’s strategy to deal with this situation is to obtain suitable sites as soon as they become available and increasingly engage in speculative development of logistics parks.

Panattoni Europe began its activity in the European market in 2005 and since then has developed more than 6.3 mln sqm of new space, including 4.7 mln sqm developed in Poland, the country where Panattoni has a 42 pct market share.

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