Baltic real estate leader plans expansion with build-to-suit projects

Sirin Development, the largest logistics real estate developer in the Baltics for nearly two decades, boasts a portfolio nearing 500,000 square meters of industrial and logistics space. The company is now shifting its strategy toward build-to-suit (BTS) projects, which are customized to meet clients' specific requirements.

"This decision is purely data-driven," explained Lukasz Tomczyk, head of commerce division at Sirin Development, highlighting the escalating demand for such facilities.

Sirin Development aims to double its portfolio to 1 million square meters by the end of 2028, expanding across Lithuania, Latvia, and Estonia.

While BTS projects offer tailored solutions and reduced long-term costs, they necessitate more time and planning compared to speculative developments. Despite economic uncertainties, Sirin Development anticipates stable BTS demand over the next five years.

"Looking ahead to the next five years, we anticipate a consistent annual demand of approximately 500,000 square meters for BTS," - stated L.Tomczyk.

For deeper insights into the BTS market landscape, future prospects, and success stories, tune into the "Verslo tribūna" interview with Lukasz Tomczyk.

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