“Our scalable platform is positioned for continued growth, targeting more than 7.5 million sqm GLA by end of 2021 and more than 10 million sqm GLA by end of 2023. Our strategy is to reach these targets primarily via largely pre-let developments, as well as targeted acquisitions and decisive expansion into adjacent markets and segments,” explains Vos. “Our pipeline looks great and we are well placed to take advantage of the favourable market circumstances, providing the solutions the markets and tenants are looking for.”
Logistics is a hot sector nowadays, with high tenant loyalty and increased business satisfaction, especially in CEE. Demand for modern logistics properties in the region is primarily driven by increasing e-commerce penetration and deep integration of supply chains with Western Europe. There is a high potential to benefit from nearshoring due to favourable manufacturing labour costs, quality of infrastructure, environment regulations and trade openness. Today, existing logistics property stock per capita in CEE is only 50%compared to Western countries, offering strong growth potential.
The highly attractive outlook for logistics property, with multiple positive demand drivers accelerated by COVID-19 further underpins the attractiveness of CTP portfolio, the largest one in Central and Eastern Europe. Further expansion will be primarily focused on neighbouring countries such as Austria, Poland, Serbia and Bulgaria but prospectively also on other European countries. CTP has made first investments in Austria and Bulgaria expects them to commence by the end of 2021.
As CTP announced its intention to float on Euronext Amsterdam stock exchange in March 2021, a new Board with a majority of independent directors will be established, in line with the Dutch Corporate Governance Code. CTP’s executive committee consists of the two executive directors, CEO Remon Vos and Richard Wilkinson (CFO), together with four key officers: Jan-Evert Post, Ana Dumitrache, David Chládek and David Huszlicska, who are responsible for day-to-day management of the Group. The non-executive directors will be newly appointed to CTP for term up to four years: Barbara Knoflach, Gerard van Kesteren, Susanne Eickermann-Riepe and Pavel Trenka. Our new Board members have a wealth of experience ensuring active and transparent governance.