Industrial developer Panattoni makes Slovak debut

CEE-focused industrial developer Panattoni Europe has commenced work on its first ever development scheme in Slovakia.

Financial details were not disclosed.

At a ground-breaking ceremony near Košice Airport, next to Slovakia's D1 motorway, Panattoni unveiled the first occupier of the 8 ha park - GGT, the largest distributor of tobacco products in Slovakia.

'The first lease agreement for the facilities at Panattoni Park Košice Airport was signed in record time, even before the construction work began,' said Erik Ivanicko, development manager for Slovakia at Panattoni Europe, head of the recently opened branch office in Bratislava.

'This only goes to show that we are in the right place at the right time. GGT will use the facilities to expand their business to the neighbouring markets, and I am convinced that their strategy will inspire other manufacturers, distributors and logistic companies,' Ivanicko added.

'Košice is going through a major transformation which started roughly in 2013 – that year the town became the European Capital of Culture and, for some time already, it had been a local hub of the booming IT industry,' said Pavel Sovicka, managing director for the Czech Republic and Slovakia at Panattoni Europe.

GGT expects to move into the premises later this year, the firm said.

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