CTP becomes largest industrial property developer in CEE

The gross lettable area of industrial locations operated by CTP has passed 6 million sqm. The growth has continued due to long term trends of increasing e-commerce and supply chain relocations, supported by the covid-19 crises.

“With the completion of our latest warehouse in CTPark Bucharest, CTP’s portfolio now exceeds 6 million sqm. Romania is contributing significantly to the group’s growth, with a 25 percent growth in our portfolio,” said Ana Dumitrache, the CTP Head of Romania. CTP wants to reach 10 million sqm of floor space by 2023 and has plans for dramatically increasing expansion, both in its current markets and into new markets. Earlier this month, CTP issued a debut €650 million green bonds, attracting a significant level of interest from investors. The bonds were several times oversubscribed, with investor demand peaking at more than €2 billion. CTP’s inaugural green bonds became the largest debut issuance of a real estate company in the CEE region.

CTP eyes new markets

“The finance generated by the bond issue is earmarked for CTP expansion in existing markets,” said CTP founder and owner Remon Vos. CTP is currently seeing demand fuelled by covid-induced changes to the way companies do business. Interest in new lettable space comes mostly from tenants in the e-commerce sector, in which warehouses of individual online shops are moving closer to customers. Vos sees great opportunities in Romania, where the company is now experiencing a period of rapid growth.

“This year, we closed 85 percent of new business with existing clients that have broadened their activities in their current markets or expanded into new markets in the CEE region. We expect similar organic growth to continue, but we will also consider completely new strategic acquisitions if an opportunity arises in line with our portfolio,” said Remon Vos about CTP’s future plans.