Hungary Announce Big Growth Plans for 2020
In response to brisk local demand, the company plans to prepare speculative developments of premium industrial space totalling 150,000 m2 in the Hungarian market in 2020.
These projects will affect nearly all the industrial parks of CTP Hungary.
The industrial parks owned by CTP are located at highly visible and easy-to-access strategic sites featuring high-quality infrastructure. As a result, they offer excellent opportunities to investors. The projects and deliveries scheduled for 2020 to meet tenant demand will be as follows:
- In the South-Eastern agglomeration of Budapest, at ctPark Budapest East – Üllő located the new development of a 37,300 m2 prime quality industrial building, which is in progress. At ctPark Budapest South – Dunaharaszti, a new development of 36,700 m2 is planned in addition to the 23,000 sqm building that will be delivered soon.
- There has been a constant high demand for properties in ctPark Budapest West located 20 km away from Budapest in Biatorbágy and easily accessible from several motorways. CTP plans to launch four new industrial development projects at this site to create a new premium industrial property with a combined floor space of 75,000 m2.
- Out of Budapest, the company plans to develop 5,300 m2 building at ctPark Arrabona industrial park in Győr.
“Last year’s successful acquisitions and our ambitious goals for 2020 speak for themselves. These offer opportunities for us to pave the way for fast and successful market expansion. Being an active developer in a lessors’ market with a very low vacancy rate, CTP wants to realize these industrial development projects as soon as possible,” said Rudolf Nemes, Country Manager of CTP in Hungary.
2019 was a highly successful year for CTP. The company reinforced its market presence delivering more than 72,000 m2 of premium category industrial property. Its current portfolio includes a total floor space of nearly 500,000 m2 with an estimated asset value of €300 million due to ongoing construction and development. In addition to increasing the value of its assets, CTP also plans to grow its headcount continuously.
Taken from the original article: CTP plans new speculative developments in Hungary, 18.11.2019, Property Forum, https://www.property-forum.eu/news/ctp-plans-new-speculative-developments-in-hungary/4717