CTP becomes the market leader in Hungary

CTP has increased its portfolio to 664,000 sqm of gross rentable space with its latest development in Biatorbágy, which has given it a market-leading position in the logistics real estate market in Hungary. The company is continuously developing its industrial parks with 235,000 sqm of new stockwork currently under construction, and an additional 322,000 sqm planned to begin in the near future, all of which will be built to CTP’s high sustainability standards.

CTP has been growing dynamically since entering the market in 2015. Focused on speculative developments, the company can meet unique ten-ant needs through its high-quality warehouse and industrial units. Together with the 30,000 sqm development delivered at the end of June in Biatorbágy, it increased its domestic portfolio to 664,000 sqm gross rentable area in 11 locations (98 percent of which has already been leased) and became a market leader in Hungary. Sixty percent of the developments currently under construction—or 141,000 sqm total—have already been pre-released. The plans for 2022-2023 will apply to an additional 322,000 sqm of development, of which 10 percent is already leased.

David Huszlicska, Country Manager of CTP in Hungary, said: “We are pleased to report that with this handover, we have also managed to become a market leader in Hungary. In line with our regional growth plans, we aim to increase our domestic portfolio to one million square meters of gross lettable space by the end of 2022—nearly doubling our results compared to the beginning of this year. Major developments are in progress in Biator-bágy, Vecsés, Anvil, Tatabánya, Komárom and Győr, and we are very opti-mistic them in terms of rental rates. Based on market trends, demands and feedback from our clients, we can expect to achieve our growth goal of full occupancy in the buildings.”