The investment in Prague
Panattoni Park Prague Airport is a new investment of Panattoni Europe situated in the west end of the Prague capital city. The 40 ha park lies in a close neighborhood of the Prague Ruzyna international airport, just by the express route R6 exit (Prague – Karlove Vary), connecting a trans-European E48 in Germany. The investment is only 20 km away from the city center and has a great connection by means of public transport with the center. The logistics center has been developed In three phases: in December 2008 the first building was delivered with a space of 14,780 sqm, and in the beginning of 2009 – the second building of 13,670 sqm. Both had been completely rented!

Due to the immediate commercialization of the project, Panattoni started another phase of the investment. The construction works of the third building of 21,900 sqm are about to start. It shall be ready by 1st of September 2009. At the end of 2nd quarter 2009 Panattoni will offer over 56,000 sqm of modern warehouse space in the western suburbs of Prague. The planned distribution center of Panattoni will consist of 8 buildings of total area 160,000 sqm. –Panattoni Park Prague Airport has been our flagship project in the Czech Republic. An excellent location attracts a continuous interest from the potential tenants - said Pavel Sovicka, Managing Director of Panattoni in the Czech Republic and Slovakia.

Panattoni’s Tenants
Panattoni Park has so far attracted two logistics giants: Ceva Logistics, (the sole holder of building nr 1) and a Czech logistics operator – Cechofracht, occupying almost 10,000 sqm in the second building. In the 1st quarter of 2009 Cechofracht was joined by Great United Trading occupying 4,000 sqm of warehouse space and 300 sqm of office space. – Modern warehouses are the key to our growth in the future, therefore we take a lot of effort to choose the right place for our stock distribution and it is crucial that the park complies with the top standards of our system of chain supply management – commented Petr Tylk, Managing Director of Great United Trading.

Expansion in the Czech market
The third phase of Panattoni Park Prague Airport is accelerating the developer’s expansion on the Czech market. After Pavel Sovicka took over the management, the company growth accelerated. Apart from building a new logistic center near Prague, the company has also extended its D5 Logistics Park, situated in the western part of the Czech Republic, by 107 exit from D5 highway, Prague - Nurnberg. D5 Park now offers almost 28,000 sqm of space for lease. Its tenants include: Burr Oak Tool, Assa Abloy, Bock Compressors.

We have been encouraged by the commercialization index of this project - even while it was being developed 80% of space was rented before the completion. Consequently we are planning other new investments. By extending our portfolio we can predict an inflowing wave of new direct investors from abroa, who are counting on lower cost of work in the Czech market – commented Pavel Sovicka.