Panattoni has announced that it is extending its operations to the Baltic States.
Panattoni is planning to extend its operations to all three Baltic States — Lithuania, Latvia, and Estonia — but will concentrate particularly on Lithuania. As part of the new strategy the company intends to unify its cross-border services, which will allow its clients to take advantage of BTS solutions both in Poland and the Baltic States. During the first stage, the work is to be managed from Panattoni’s central office in Warsaw but the creation of a local office is planned for the future.
“For us, entering the Baltic states is an exciting opportunity to support local economies by supplying modern solutions for logistics and industry,” said Marek Forynski, Managing Director of Panattoni BTS. “The BTS services Panattoni offers are ideally suited to the current needs of our clients in the region.”
According to Panattoni, “the market in the Baltic States is currently characterized by a large number of old buildings and low liquidity in the the industrial real estate investment sector. Investors may also find the banking sector to be a limitation. Despite these challenges, Panattoni sees great potential for growth, particularly in regard to near-shoring and investments in infrastructure such as the Via Baltica. The region also benefits from the proactive efforts of governments in the Baltic states to attract new investors and to promote the growth of their economies.”
“We are entering the Baltic states with our BTS services in response to the specific expectations of our clients, who need tailored industrial solutions in this part of Europe,” said Jerzy Kozlowski, BTS Development Director, who is responsible for the development of Panattoni’s project in the Baltic States. “We believe that the opportunity to unify our cross-border services will serve as a useful tool for further growth.”
According to a Panattoni press release, “Panattoni’s expansion will also be of benefit to local economies as it will result in greater liquidity in the logistics real estate market and will lead to the development of modern industrial facilities. This will be particularly felt when it comes to rentals, which is a model that is currently not particularly popular in this region.”
Image source: Panattonieurope.com