Panattoni Europe, leading developer of industrial space in Poland, following in the footsteps of success in the Czech Republic and Germany, is expanding its European presence again. The developer has decided to enter the Romanian market, in response to the interest in this region from tenants as well as investors. The newly opened Bucharest branch will be headed by Managing Director, Muler Onofrei.
Panattoni Europe, following in the footsteps of success in Poland, Czech Republic and Germany, has decided to expand into other European markets. The developer has opened another office - this time in Bucharest, Romania. Initially, the company will focus on developing build-to-suit (BTS) investments, but is also planning to create its own multi-tenant logistics centre near Bucharest.
Panattoni Europe's decision to enter the Romanian market was motivated by the country's great potential. The Romanian economy has been improving steadily, and according to the European Commission ( report ) this trend is set to continue in the coming years. Forecasts show that in 2016 Romanian economy will grow by 4.1 per cent, and by 3.6 per cent the year after, leaving behind Poland, Ireland and Slovakia.
Improving economic prospects as well as political and legal transparency are not the only reasons for the company's move into Romania. According to Robert Dobrzycki, Chief Executive Officer Europe, Panattoni Europe: 'As a developer of industrial space, we are observing keen interest in this market from our customers and prospects alike, as well as from the investment sector. We always do our best to stay close to our customers and to make sure that their business is secure as far as our operations are concerned, and that is why expanding the Panattoni Europe platform to include Romania seemed necessary as well as justified."
The newly opened Bucharest branch will be headed by Managing Director, Muler Onofrei, who can boast thirteen years' experience in the investment and real estate sector. Muler Onofrei is an alumnus of Alexandru Ioan Cuza University in Iasi, where he graduated from Economics and Management Studies, and of Kellogg School of Management. He is also a member of the Royal Institution of Chartered Surveyors, a worldwide organisation bringing together real estate professionals .
Panattoni Europe is part of the Panattoni Development Company, one of the largest industrial developers in the world, with operations in North America and Europe. The first Central European offices opened in 2005, simultaneously in Warsaw and Prague. Initially, Poland was the main market in the region, but for several years now Panattoni Europe has been increasing its involvement in the Czech Republic and Germany, too. In this time, the developer has delivered more than 3.2 million sqm of modern industrial space altogether in Poland and the Czech Republic (with 2.53 million sqm in Poland alone) and can boast the largest developments in Central and Eastern Europe. These include: a total of three facilities for Amazon in Poland and the Czech Republic - each one in excess of 120,000 sqm, as well as the ongoing construction of the largest logistics centre in Germany to date for Jago AG, with 120,000 sqm.