CTP, a premium industrial parks developer and long term manager in Romania and Central and Eastern Europe, continues to strengthen its status on the domestic market through a series of important investments in the development of CTPark Bucharest West, which is designed to become the largest logistics park in Eastern Europe, with the fastest growth rhythm in Romania. The total investment in the CTPark Bucharest West will exceed EUR 150 million by the first quarter of the next year.
The company currently has 100,000 sqm under construction in CTPark Bucharest West, and significant plans to continue this expansion. In order to achieve this, CTP acquired land in the area so that it could reach a built area of more than 700,000 sqm by 2020, a figure that would make CTPark Bucharest West the largest industrial park in Eastern Europe. In cooperation with local authorities, CTP aims to heavily invest in improving the infrastructure surrounding the park, located at 23 km West of Bucharest, as well as creating additional access roads and several highway exits to facilitate the transportation of goods for its tenants.
CTPark Bucharest West is also the only industrial park near Bucharest where tenants do not pay property taxes. Future investment plans include a range of customer facilities such as catering services, restaurants within the park, buses that will provide direct transportation between the park and the city, as well as hotel-type buildings to accommodate the employees of tenant companies.
“CTP has major targets for both Bucharest and the rest of the country. We are in a continuous expansion process and we want CTPark Bucharest West to become the most important logistics park in the region, in terms of built area, the development rhythm and the quality standards. This last aspect is extremely important to us, which is why we make significant investments to ensure our customers do benefit of services above market standards. We currently have 30 tenants in CTPark Bucharest West, a number we wish to increase. We are committed to providing premium services and helping our customers grow their business. I strongly believe that a long-term owner, such as CTP, who is constantly expanding its logistics spaces, who does not compromise on quality of the buildings and who manages its properties with the utmost responsibility, will attract valuable customers and will build long lasting business relationships with them,” said Ana Dumitrache, Country Head of CTP Romania.
CTP acquired CTPark Bucharest West in 2015, when the park had about 130,000 sqm of built area (Bucharest West I and Bucharest West II). Meanwhile, another 100,000 sqm has been developed for customers such as: DSV, Quehenberger, Geodis, Cargo Partner, Gefco. Following the current expansion process, around 3,000 people will work in the park, and the various industries to which tenants belong will allow the creation of very useful links between complementary sectors of activity.
CTP currently owns approximately 500,000 sqm of leasable area, distributed in two logistics and industrial parks, both with direct access from the A1 motorway: CTPark Bucharest (located at km 13) and CTPark Bucharest West (km 23). Nationwide, the company manages 650,000 sqm of leasable area, located near Bucharest and other nine strategic cities in the country. CTP plans to reach a total leasable area of approximately 1 million sqm in Romania by the end of 2018.
