Panattoni enters Saudi Arabian market, seeks Middle East role
Panattoni, the largest logistics real estate developer in Europe, has announced it is launching an operation in Saudi Arabia in order to capitalise on emerging opportunities in key global markets in the Middle East.
“Entering the Saudi Arabian market represents an exciting opportunity for Panattoni to support the country’s vision for sustainable development”, said Robert Dobrzycki, CEO & Co-owner, Panattoni Europe, Middle East & India.
The group said it aims to play a pivotal role in driving economic growth in Saudi Arabia, with an initial focus on Riyadh, Jeddah and Dammam, three of the largest cities.
“The Kingdom’s logistics sector is experiencing a supply-demand imbalance, as evidenced by the strong levels of occupancy and rental growth”, said Dobrzycki. “The strong demand for space is being driven by the government’s Vision 2030 plan and its initiatives to diversify away from an oil-reliant economy and to become the main logistics hub of the Middle East and North Africa region”.
The new operation will be headed by Daniele Sotti, Managing Director, Saudi Arabia, and Ali Chamoun, Development Director.
Sotti has more than 25 years’ experience in the large logistic and real estate sectors, having worked for companies including Amazon, TNT, DHL and Prologis before joining Panattoni in March 2022 as Managing Director Business.
Daniele will be joined by Ali Chamoun, Development Director, Saudi Arabia, an experienced local business strategist and real estate expert, who previously spearheaded Amazon’s real estate strategy and led IWG’s expansion in the country.
Panattoni’s entry into Saudi Arabia comes at a time of rapid transformation in the region. A pillar of the Vision 2030 plan is to maximize the benefit that comes with the Kingdom’s strategic geographical location, by transforming it into the go-to logistics hub for the region, capable of efficiently linking trade across the continents of Asia, Europe and Africa.
