25,000 m² under construction for Profi in CTPark Cluj
Construction is underway on a 25,000 m² facility for supermarket Profi in CTPark Cluj, Romania. Profi also has space at CTPark Bucharest West, which was recently acquired from Prologis.
CTP has been successful in Romania and recently completed a custom built industrial property for Fraenkische, one of CTP´s long-term clients. CTP also acquired 44,000 m² of A-class logistics space in Arad earlier this year as well as 25,000 m² in Deva. CTP is currently constructing property in Cluj, Pitesti and in Bucharest, mainly for existing CTP clients.
“This is the right time to invest in Romania with over 4% GDP growth projected for 2015, and a market of around 20 million inhabitants. Bucharest and other cities in Romania offer educated and available work force at competitive prices. Romania has significantly improved the infrastructure, including the road network, over the past years and these improvements look set to continue”, says Remon Vos, CTP CEO
CTP´s portfolio of A-class industrial properties has lettable area of approximately 3 million m² and CTP´s commitment is to grow to 5 million m² by 2020.