Following in its footsteps of success in Poland, the Czech Republic and Germany, Panattoni Europe has decided to expand into other European markets. This time the developer has opened an office in Bucharest. Initially, the company will focus on developing build-to-suit (BTS) projects, but is also planning to create its own multi-tenant logistics centre near Bucharest.
Panattoni’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, this trend is set to continue in the coming years. Forecasts show that in 2016 Romanian economy will grow by 4.1 percent, and by 3.6 percent 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 Onfrei, who can boast thirteen years’ experience in the investment and real estate sector. Muler Onfrei 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.