Greece sees growing interest in logistics, transport facilities
Greece’s role as a transportation gateway has drawn growing interest from investors across Europe, attracted by the country’s geostrategic location, its expertise in shipping, and a multi-billion euro infrastructure plan that promises to transform Greece into a logistics hub for Southeast Europe and beyond.
In the past two years, property investors like international fund Invel Real Estate, Ten Brinke from The Netherlands and Sweden’s Sterner Stenhus – as well as Greek property specialists Prodea, Briq Properties and Sarmed – have been investing in the sector, mainly in new warehousing space. In 2020, Greece saw an estimated €150 million invested in logistics-related facilities.
Since then, the coronavirus pandemic has further highlighted the importance of global supply chains and, with it, the prospects for the post-COVID logistics industry, say market sources.
Helping to drive the sector’s development is Greece’s €13 billion infrastructure masterplan that aims to upgrade the country’s road, rail, shipping and air links, and which foresees the privatization of ports, and the construction of new road and rail networks. The country’s two most important logistics projects – the 58-hectare Thriasio Pedio freight village near Athens that is currently under construction, and the Gonos logistics center now being planned in Thessaloniki – will also help transform the sector.
According to a recent EY study, between 2017 and 2019, transportation and logistics accounted for 12% of total investment in Greece, making it one of the top five investment sectors in the country, double the ratio in the rest of Europe.