CTP developer is the first real-estate developer to reach a historical milestone: 1 million square meters of built area spread in 15 logistics and industrial parks throughout Bucharest and nine other cities, strategically located in Romania, the company informed on Wednesday.
CTP hit two important milestones at the end of 2018, both locally and internationally: 1 million m² in Romania and 5 million m² for the group’s global portfolio. In 2018 alone, the company delivered over 300,000 m² of high-quality logistics spaces in Romania.
CTP increased the tenant portfolio in Romania to 50 tenants in 15 parks, 85% of which are major players from the logistics industry and 15% are manufacturing companies reflecting the versatility of its spaces to accommodate any type and scale of business. The vacancy rate in CTP parks is below 5% which is a strong indication of the healthy development of the company. CTP, together with its tenants, are generating thousands of jobs contributing to employment rates in local communities.
“I am happy to be at CTP for this significant moment, as the company hits the 1 million m² milestone. This is a psychological threshold, and the work done by the team in order to achieving this amazing result is tremendous. We have big plans in order to grow even more in the next period. I want to thank our fantastic team, our clients and all our partners for helping us reach this milestone and continue to be close to us for reaching the vision of transforming Romania and Bucharest in particular, into a regional industrial and logistics hub”, stated Ana Dumitrache, Country Head of CTP Romania.
2018 was dedicated to setting new records for CTP on the local market. From its beginning in Romania, in 2014 this is the fastest pace yet for finalizing new constructions, with over 300,000 m² being built-up.
“2018 was a full and extremely successful year for CTP that culminated with reaching this major milestone of 1 million m². In 2019 we are planning to keep our engines running even faster and to strengthen our position as market leader. We aim to achieve a major local portfolio increase and internationally move to our 10 million m² target for the end of 2020”, added Remon Vos, CEO of CTP.
One of the group’s main focus will remain CTPark Bucharest West which is the largest master-planned industrial park in Romania as well as central Europe. Currently, the park contains 400,000 m² built up area and is planned to reach 1 million m² in the coming years aiming to transform Romania in a logistics hub in Eastern Europe.