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CZECH MATE

Czech Republic is CTP’s home country with 68% exposure and a GLA amounting to 3.5 million m². That is almost a third of the entire Czech market, making CTP by far the most dominant market player. Of the total GLA, 76% is located in large Czech cities. This includes Brno, the country’s second largest city and an established innovation hub for CEE which plays a very instrumental role for us and our tenants. With 311 thousand m² currently under development in Czech territory, CTP is also responsible for 84% of the total industrial space under construction.

ROMANIA ON THE RISE

Romania is our fastest growing market comprising over half of CTP’s overall growth. In 2020 CTP made massive steps forward in Romania, with over 200 thousand m² of acquisitions and another 240 thousand m² of developments completed. CTP targets a GAV of €1 billion in the country by the end of 2021 with the help of the two largest parks in the CEE - CTPark Bucharest and Bucharest West - which together account for 24% of Romania’s total industrial and logistics stock.

CTP’s Romania Country Head, Anna Dumitrache
explains:
“After seven years on the market, CTP is now the largest Romanian developer with 1.5 million m² GLA with a 29% market share. And with currently 178 thousand m² under development, we are leading almost 60% of the total industrial space under construction,”

SLOVAK COMING IN STRONG

Meanwhile in Slovakia, occupancy rates in 2020 have been at a high of 98% and we're looking to grow our portfolio there significantly to keep up with demand. With 434 thousand m² GLA (13% of total market), CTP is currently the second largest owner of industrial parks in Slovakia with 55% of our GLA located in key cities. Future market share growth will come from the 1.3 million m² land bank, which is the highest among peers and putting us on track to become the market leader in a couple of years.

HUNGARY

In Hungary, we stand to be the second largest owner of industrial parks in the country and continued to grow its position in 2020. Our Hungarian team secured 23% of the gross market take-up last year and targets to almost double our exposure by 2023. Currently, CTP has 160 thousand m² under construction, and our land bank has another 190 thousand m² waiting for us. And, we are still eyeing to secure a further 1 million m² of land.

BIG PLANS FOR BIG POLAND

Poland is the largest economy in CEE and it is hungry for more logistics space. CTP is rolling out big plans in Poland in a strategic new partnership the Polish-based logistics and warehouse developer and manager, MDC². Construction in the first three locations will start in Q1 2021. By the end of 2025, we’re targeting to have 1.75 million m² of GLA.

NEW TERRITORY IN THE VERY SOUTH-EAST: BULGARIA

An EU member since 2007, Bulgaria is one of its most robust and resilient member states economically. Seated in the very south-east corner of Europe along the Black Sea, Bulgaria provides unique gateway access to the developing economies of the Caucasian and Central Asia regions. In 2020, we started rolling out three CTParks strategically located around the capital, Sofia.

SERBIAN SUCCESSES

The fact that CTP takes up the most market share in the country isn’t slowing us down as Serbia shows nothing but growth potential. Currently, CTP holds five thriving parks in Serbia, connecting across the country along major motorways and city centres, two of which are positioned around the country’s capital, Belgrade.

GOING WEST

We’ve secured our position as market leaders in CEE, and we’re ready for more. Comparatively, the logistics and industrial real state sector is fragmented in Europe and we’re striving to better connect for our tenants to give them more seamless operations across the continent. Going Dutch was a natural choice, not just because our CEO is a Groninger native. The Netherlands is consistently ranked in the top of the World Bank Logistics’ Performance Index and it flexes some of the most innovative and sustainability practices. Despite this, the market still lacks what CTP offers- full service parks and a centralised management team that will help them growth. We have also taken another step west into Austria where we have set up office and are soon to be rolling out CTParks around Vienna.

LANDBANK FOR DAYS

CTP is a demand driven company; market demands are rising and we’re ready. In 2020 we expanded our landbank to 12.5 million m²; 82% of it is around CEE capitals or major cities and 56% of it is adjacent to our existing successful parks.

2020 Best of Reality

Vlněna, Bronza New Administrative Centre

2020 CIJ Awards Czechia

Best Industrial Investment

Leadership of the Year

Best New Industrial Tenant

Best Warehouse

2019 CIJ Hall of Fame

Best Overall Developer at the CIJ Hall of Fame

Best Warehouse Lease for its Aldi deal in Hungary

Best Commercial Investment Property Transaction, for its deal with Deka Imomobilien

2019 Europa Property’s SEE Real Estate Awardse

Warehouse Developer of the Year

Ana Dumitrache, Real Estate Professional Woman of the Year

2019 CIJ AWARDS Romania

Best Warehouse Development & Developer

2019 Czech Green Building Council

Vlněna, Bronze Green Roof of the Year

These same CEE economies also show a lower government debt to GDP ratio than western Europe, at an average of 57% compared to same group of Western European economies which is at 123% (source Oxford Economics).

Demand driven

22 years of consecutive growth is no coincidence. A large part of this success is due to our ability to learn, listen, and understand our clients’ needs. Because we build strong, lasting relationships with our existing clients, over 85 % of new business originates with them. Our client retention rate was 92% for the year, underpinning the success of our approach. As our clients have grown, so have we. Our scale throughout CEE provides our clients with greater options for their own location decisions.

Resilience in diversity

Our tenant network makes up 700 plus primarily blue-chip international and domestic corporates. Like the old saying goes “don’t put all your eggs in one basket”, and we don’t. We keep reliance and mitigate risk but maintaining a diverse network tenants from manufacturing, automotive, high-tech, E-commerce, retail, and wholesale & distribution industries. Our relations are long term as we aim to grow with the success of our tenants; 80% of our new business is done with existing tenants. Our largest five tenants only make up 10.2% of 9M 2020 GRI. Through strategy, we can have assured and secure growth.

E-commerce

COVID-19 regulations and precautions accelerated ecommerce growth. Online distribution requires three times more logistics space that traditional brick and mortar retailing. CEE countries' ecommerce sales in recent years are nearly double that of western Europe; CEE 2019-2021E - 23%, Western Europe - 13% (source eMarketer).

3PL

Third-party logistics show no sign of slowing as they keep up with global trade trends and the ecommerce boom. As the third-party logistics service provider sector grows, they continually are demanded to move goods faster and more efficiently. This means they need more space to store, sort and distribute goods globally.

Nearshoring

2020 saw in increase nearshoring, as it reduces supply-chain risk by reducing unnecessary transportation of goods around the world and rather keeping them closer to their consumer market and thus more quickly available. More inventory closer to the end market means there is more ability to absorb shock. And, as increasing environmental regulations increase, nearshoring is an increasingly viable solution.

Why are our parks different?

Top grade

As owners with long term tenant relations, sustainability and quality are a fundamental ingredient in our strategy. BREEAM verified this when they certified our whole portfolio “Very Good” or higher.

22 years young

We continually are refining the perfecting balance between bringing our proven experience and scaled success with each project’s unique tenant and market needs.

Our parks have heart

We don’t just build facilities- we build full-service parks so our tenants can do what they do best. This looks like 24/7 security, green landscaping, facility management and community amenities.

We think bigger

We think about our tenants beyond just their own facility. Rather, we try to optimise their proximity with other stakeholders on our parks so they can complement each other's activities. As a result, our parks run like synergetic ecosystems.

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