German-owned industrial property developer Panattoni will spend HUF 10 billion on developing two halls in its logistics park Panattoni Park Moson, near Hungary's border with Austria and Slovakia, the company said this Wednesday.
Panattoni signed a lease contract to rent 51,000 sqm meters in the buildings to German-owned forwarding and logistics company Fliege.
Panattoni is one of the world's largest privately owned industrial real estate developers, with 70 offices in North America, India, and Europe. Its global portfolio includes more than 60 million square meters of completed space for over 2,500 customers.
Panattoni Hungary was established in 2021 and has completed four developments over the past four and a half years, all of which are 100% leased, with a combined size of over 130,000 square meters. Panattoni Park Moson is the developer's fifth investment in Hungary. In the coming years, in line with economic conditions and demand, the company plans to launch several BTS and speculative developments.
Panattoni Hungary had net sales revenue of HUF 20.8 billion last year, public records show.
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