CTP signs 180,000 m² of new deals
CTP has signed 180,000 m² of new deals throughout the CTPark Network in the last three months. The m² come primarily from constructing new properties for existing clients, as well as deals with new clients like HTC from Taiwan and Blika from Denmark. CTP now stands at 2.5 million m² of lettable area, on track for 3 million m² by the end of the year.
Remon Vos, CTP CEO states, “We have adjusted our business plan and are now on schedule to reach 5 million m² of lettable area by 2020. By the end of 2015, we will be at 3 million m² – our previous goal for 2017.”
Deal highlights include
A full list of new deals can be viewed in the most recent edition of CTP News, which you can download here
“Most of our growth comes mainly from constructing new properties for existing clients —like IFE at CTPark Modřice, or Danish company Kompan at CTPark Brno, or Johnson Controls at CTPark Bor,” continues Vos. “All of these companies are long-term business partners for whom we extend properties or build new premises elsewhere in the region to support their operations.”
The expected GDP growth of between 2.5 - 3.5% during 2015 and into 2016, has had a positive impact on demand for both goods and service in markets throughout central Europe (CE). As a result, retailers, e-commerce operators and automotive components producers are currently the main drivers of demand for industrial space.
This increase in demand has put commercial properties in CE as an asset class under the spotlight of international investors, with industrial properties being the most attractive among all property classes. Additionally, historically low interest rates and favourable financing conditions have had a positive impact on supply by developers.
With a vacancy rate of 8% across CE and trending lower, built-to-suit projects are increasingly common. On the country level, the Czech Republic and Romania appear the most promising for investment, with increased interest from companies carrying out high-tech manufacturing and R&D centers, especially in the Czech Republic.
“We have also recently signed with new clients like HTC from Taiwan and Blika from Denmark. These companies are involved in manufacturing or logistics. All of them understand well the benefits of locating in central Europe and appreciate a partner who provides full service property development including financing and after-care with new and existing tenants,” concludes Vos.