CTP is accelerating its growth trajectory with its first entry into the Italian market. This strategic expansion comes through the €241 million acquisition of VLD, a development company holding a significant landbank in prime locations, previously controlled by FBH Group. The move supports CTP’s ambitious goal of reaching 30 million sqm of GLA by 2030, enhancing its scale, portfolio quality and development pipeline, allowing it to better meet the needs of over 1,500 CTP tenants. This deal represents the start of CTP’s investment in Italy, where it plans to invest €1 billion over the next five years.
The acquisition provides CTP with a pipeline of development opportunities primarily across northern and central Italy. An 8.7 million sqm landbank, including immediate development potential, has been acquired in the deal, providing CTP with 1.7 million sqm of owned land, a further 2.7 million sqm under contract subject to zoning for industrial and logistics use, and 4.3 million sqm under option to be exercised at CTP’s discretion upon successful zoning completion.
“We continue to expand into Western Europe in line with our business plan and plan to invest one billion Euros into Italian projects over the next five years. We see great potential in Italy, where demand for modern and sustainable logistics space is growing, yet the market remains relatively undersupplied. As a fully integrated developer, operator, and long-term owner, CTP is uniquely placed to tap into this opportunity, providing our clients with state-of-the-art business parks tailored to their needs with an end-to-end real estate service,” said Remon Vos, CEO at CTP. “The Italian market offers an attractive return profile with a yield on cost target of around 8.5 percent to 9.5 percent. For 2026, we already plan to deliver around 200,000 sqm of GLA, ramping up to 250,000 sqm to 300,000 sqm annually from 2027. This is one of the key steps towards achieving our ambition of 30 million sqm of GLA by 2030.”
CTP sees strong demand in Italy for its modern full-service business parks with an occupier base that values a developer that builds its properties to own long-term. In addition to major manufacturers, CTP expects to see demand from Italian-based SME occupiers, FMCG and 3PL operators, as well as multinational businesses looking to expand into Italy. Currently, the Italian market remains relatively undersupplied in terms of Grade A logistics space, with around 0.5 sqm per capita, compared to over 1 sqm per capita in most other Western European markets, providing strong long-term growth potential. This is backed by a skilled workforce, a strategic geographic location for business and strong real estate momentum with low vacancy rates, rising prime rents, and attractive prime yields.
VLD will be renamed CTP Italy.
