Panattoni enters Spain and Portugal
Panattoni is expanding its position in Europe.
With over 9.6 million sqm of industrial space built, Panattoni is already present in the largest European logistics markets, including the German, British, Dutch, and Polish ones. The developer is also in the Czech Republic and Slovakia. From February, it will appear in Spain, and will open its representative offices in both Madrid and Barcelona – the main logistics hubs of the Iberian Peninsula. To this end, the developer has appointed a new team. It will be headed by Gustavo Cardozo Lupi, Managing Director, and will be supported by, among others, Miguel Vera Cabrero - Director of Structured Finance and Operations.
Spain is the sixth largest warehouse market in Europe.
The existing warehouse space is 22.1 million sqm (data for Q3 2019), and the logistics market has at its disposal a road network covering over 370 thousand kilometers, including 15.5 thousand km of motorways. The length of railway lines is approx. 16 thousand km, of which 2.6 thousand km is high-speed rail. Maritime transport plays a major role in foreign trade. The logistics sector is developing very rapidly, which is dictated not only by foreign trade but also by the dynamic growth of online retail. E-commerce sales in Spain are already estimated at over 25 billion euros (34 billion euros B2C e-commerce turnover), and the sector is growing at a rate of over 15% per year. Already today, 63 percent of Spanish internet users shop online, which stimulates additional demand in the warehousing and distribution sector.
„The position of Spain and Portugal in Europe, combined with its strong infrastructure and labor costs, makes it a very attractive market for logistics investments. In addition, the country is located at the intersection of the Mediterranean and Atlantic transport corridors, thus becoming a gateway not only to the markets of Europe, but also to Latin America, North Africa, and the Middle East” - says Robert Dobrzycki, Chief Executive Officer Panattoni.
