Industrial specialist Panattoni has taken the lead for the fourth year running in PropertyEU's annual logistics developer ranking, based on projects completed in Europe between 2017 and 2019.
Panattoni delivered over 6.3 million m2 of industrial and logistics space during the three-year period, mostly in Poland. This compares with just over 5.2 million m2 in last year's survey, covering the period 2016-2018.
The Warsaw-headquartered developer is followed in second place by Goodman, which completed close to 3 million m2 over 2017-2019, and in third position by Segro at 2.2 million m2. CTP Invest takes fourth place with over 1.2 million m2, followed by VGP Group (around 1.1 million m2) and P3 Logistic Parks (over 1 million m2).
Prologis did not take part in the ranking this year. In last year's survey, covering the three years from 2016 to 2018, the group completed over 2.7 million m2 of industrial space in Europe.
Together, the 14 companies which took part in our 2020 Top Logistics Developers survey delivered a combined 18.2 million m2 of industrial and logistics space across Europe over 2017-2019. Seven participants reported completions in excess of 1 million m2 for the three-year period, up from five last year (which included Prologis). Three players in this year’s ranking reported a delivery total in excess of two million m2, with Panattoni exceeding the 6 million m2 mark at 6,313,377 m2.
The healthy pipelines for 2020-2022 reported by many survey participants testify to the enduring strong demand for industrial facilities and sustained confidence in the long-term fundamentals of the sector. The anticipated surge in e-commerce – even before the coronavirus outbreak – is seen as one of the biggest growth drivers.
Combined, the pipelines of the 14 ranked companies amount to around 45.8 million m2, with Panattoni alone accounting for more than half of this at roughly 26.7 million m2. CEE-focused Panattoni is streets ahead of its nearest rivals Segro and Goodman, both of which report pipelines near the 3 million m2 mark.