CTP Serbia to Reach More Than 70,000 m2 GLA in 2019
CTPark Belgrade West recently obtained a building permit for 14.110 m2. Half of the GLA is already rented and there is a high demand for the rest of the warehouse space already. We expect the start of construction in the first quarter of 2019 and hand over to tenants in Q3 2019.
The development of the first phase of 25.660 m2 in CTPark Belgrade North is in progress. Eventually the park will offer 64.720 m2 in the 15.3 ha. Park. The permitting process is in progress with a goal to obtain permits in mid 2019 so we can start offering the industrial spaces to the market as soon as possible. Currently we plan to start construction of phase one in Q3 2019, with a possible hand over to clients in Q4 2019. Next year phase 2 expects the development of another 39.060 m2.
In CTPark Novi Sad CTP expects building permits in February 2019, totaling the leasable area to 24.340 m2. Due to the park’s strategic location, we already have several clients in negotiation and the production facility and warehouse construction is set to start Q2 2019, with hand over to tenants in Q4 2019.
Among the several acquisitions in progress, CTP is in the midst of serious negotiations in central Serbia, where we intend to purchase 5ha. of land. The acquisition deal is in its finalization phase together with the permitting process and client negotiation. Total surface of the new Serbian park is expected to be 21.500 m2.
The target for CTP Serbia is to reach more than 70.000 m2 of GLA at the end of 2019 and to secure more land for new development for 2020.