P3 plans to increase presence in Poland

P3 is planning to develop and expand its four existing parks in Poland as well as invest in new projects over the coming months. “As we announced at the beginning of the year, when P3’s acquisition by the Singapore sovereign wealth fund GIC closed, our strategy is to expand by bringing forward the development of P3’s pan-European land bank, which will enable 1.8 million sqm of modern warehouse space to be built, as well as purchasing land and standing assets in the countries in which we are already represented and new territories,” said Peter Bečár, P3’s managing director for the CEE region. “We recently acquired a 322,500 sqm portfolio of 11 logistics and distribution warehouses in Spain, increasing P3’s asset base there from just over 70,000 sqm to nearly 400,000 sqm. This latest acquisition marks the start of this process in Poland.”