CTP invests heavily in Romania
Amsterdam, 8th September 2015 – CTP, the Dutch-based investor, developer and operator of the CTPark Network, invests heavily to extend the CTPark Network into core-markets in central Europe.
CTP has successfully agreed terms and conditions with Prologis to take over Prologis´ logistics parks at Bucharest comprising 4 warehouse properties with a total lettable area of more than 100,000 m² plus 36 hectares of land prepared for custom built projects. The site is located strategically across the street from an existing CTP property.
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 is looking forward to do more investments in Romania and estimates its Romania assets to exceed EUR 250 million. The park in Bucharest currently has an occupancy of more than 80% with tenants like Cargo Partner, Geodis, Gefco, Quehenberger and others.
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.