Panattoni debuts in Sweden

Panattoni has finalized the largest land purchase agreement in history in Sweden, in the Stockholm and Scania regions, worth 3.1 billion SEK (approx. 300 million euros). Panattoni purchased seven plots with a total area of 121.3 ha from the Swedish developer Kilenkrysset. The purchased area already has planning permission and up to 19 warehouses will be built on it.

"Panattoni is accelerating its expansion into Western European markets, and this record-breaking land transaction in Sweden is arguably the most spectacular market entry we have achieved to date," says Robert Dobrzycki, CEO and co-owner of Panattoni Europe and India - "The agreement was signed just six months after Panattoni opened its first Swedish office in Göteborg and is a tribute to the skills of the local team and our ability to quickly deploy institutional capital on a large scale when new opportunities arise."

Panattoni plans to speculatively build 19 warehouses on seven greenfield sites. Sixteen of them will be built in the Mälardalen region in Strängnäs, Nykvarn and Enköping west of Stockholm, all next to the E18 and E20 motorways. Two investments will be located in Rosersberg, 30 km north of Stockholm city center by the E20 motorway. One investment will be located in Staffanstorp, 6 km east of Malmö, near the E6 motorway. The purchased land has the potential to build almost 661,500 sqm of gross leasable area. It is estimated that the cost of such an investment will exceed one billion euros.

"Panattoni's values are in line with Kilenkrysset and we share many similarities. Carl Panattoni, founder and owner of Panattoni, is my age and like Kilenkrysset, Panattoni was also founded in 1986. With our substantial land bank of approximately 30 million sqm and our long-term commitments to detailed planning, due to the construction and financing of infrastructure on our land, we do not have the capacity to build and develop on all our land ourselves," says Jan Persson, CEO of Kilenkrysset. - "Thanks to Panattoni, we have found a partner that will fulfill the wishes of both Kilenkrysset and our municipalities: a fast and extensive development plan which, combined with the positive attitude of the municipalities, will create thousands of jobs. Panattoni's investment will be an important addition to the development of the Mälardalen region for many years to come."