European director Robert Dobrzycki says the Romanian market is a very different one from the Czech Republic, Poland and Germany and will require a different approach. “It’s not going to be the same kind of operation we have in other places,” he said, adding that Romania will be a focus for Panattoni in 2016.
He said it is too early to reveal details about how the company will tackle the new market, though buying standing acquisitions is not likely to be its first choice. “Historically we prefer to develop,” said Dobrzycki. “That’s where our main skill set is.”
The Czech-based industrial property company CTP made serious inroads in the country during 2015, in part by buying out Prologis which sold its portfolio as part of an exit from Romania.
Dobrzycki says that in Central Europe, e-commerce is now one of the chief drivers of new development, taking priority even over the shift of western manufacturing to the east. In fact, what’s becoming far more prevalent is for western e-commerce operations (especially German ones) to look for ways to serve their markets in Central Europe.
Poland and the Czech Republic are the main options for such facilities, but thanks to its high population base, says Dobrzycki, it’s Poland that’s likely to be getting the nod on such investments. (source: cijjournal.com)
