Goodman Group, recently ranked by PropertyEU as the largest European property developer, expects a huge leap in its completions of logistics space in Europe this year.
Goodman Group, recently ranked by PropertyEU as the largest European property developer, expects a huge leap in its completions of logistics space in Europe this year.
The global logistics property specialist currently has over 520,000 m2 under construction in Germany, Poland, Belgium and the Czech Republic and forecasts it will have completed up to 800,000 m2 of developments in Europe by end-2012.
If Goodman achieves the 2012 forecast this will correspond to more than 70% of the total 1.1 million m2 of completions recorded by the company between 2009 and end-2011. The PropertyEU ranking was based on completed space over the three-year period.
Danny Peeters, CEO of Goodman Continental Europe, said the results underline Goodman's position as the number one developer of logistics real estate in Europe. 'In addition to our extensive list of completed projects and developments under construction, we also have an impressive pipeline of active enquiry,' Peeters said.
The growth in the e-commerce sector is a key driver of logistics real estate, and has accounted for 35% of the new business secured by Goodman in Europe. In 2011, Goodman developed 518,000 m2 of new space for e-retailers, including a total of more than 440,000 m2 for Amazon in Germany.
'Building on last year’s success in Germany, Goodman continues to be the clear market leader as an owner and manager of logistics real estate, with around two million m2 in assets under management, valued at EUR 1.1 bn,' Peeters added.
Since 2009, the group has doubled its presence in the German market and now has 45% of its European portfolio in Germany. Goodman aims to be the number one developer in France and Poland within the next three years.
An interview with Goodman appears in the next edition of PropertyEU Magazine. Click on the link below to find out about the PropertyEU subscription package.
