Czech company CTP, one of the leaders of premium business parks in Central Europe, has begun the works on the second phase of CTPark Bucharest West logistic park, which will include two buildings with a total area of 68,000 square meters. For this, CTP will invest EUR 25 million.
According to Remon Vos, CEO of CTP, the construction will be completed next spring.
Last year, real estate developer Portland Trust struck a deal with Dutch-based CTP for the sale Bucharest West Logistic Park. The transaction was estimated at about EUR 60 million.
The logistic complex was developed by Portland Trust in several stages since 2006 and reached an area of over 110,000 sqm.
In an strategic established location on the A1 Bucuresti – Pitesti motorway and just 2 km away from the city, Bucharest West offers class A units for warehouse and light industry. With links to industry Europe-wide, Bucharest West makes connections with 200 millions customers within 1,000 km.
This spring CTP has started the works for the development of the park’s built area to 130,000 square meters, adding the next 68,000 square meters.
The developer recently announced that it has invested EUR 250 million in Romania, with a portfolio of A Class industrial properties of over 500,000 square meters and targeting the expansion of up to 1 million square meters in the next two years.