Panattoni is launching a new strategic initiative. "This is a significant chapter in the company's history."

Panattoni , an industrial real estate developer, announced that it is launching a new strategic initiative – the development of data centers in Europe, the UK, India and the Middle East.

The developer announced that Panattoni's new data center team will be led by Richard Wellbrock , who joined the company as managing director, data centers.

The release stated that he has over 25 years of experience in the real estate industry, including nearly 20 years in data center development, and most recently served as Chief Commercial Officer at Colt Data Center Services (DCS), a global data center operator.

Richard Wellbrock has been joined at Panattoni by Nick Parker as head of capital deployment, John Belton as head of development, and Paul Terry as infrastructure director. All of them, according to the announcement, previously worked at Colt DCS.

Panattoni said all four experts will be based in the company's London office and report directly to Robert Dobrzycki, CEO and co-owner of Panattoni in Europe, the UK, India and the Middle East.

" This is a new, important chapter in Panattoni's history . Data centers are now a key infrastructure of the modern economy – and we are building a world-class platform to deliver them. Richard and his team bring unique knowledge and experience," said Robert Dobrzycki , CEO of Panattoni, as quoted in the press release.