The portfolio of Dutch owned industrial park developer CTP in Romania grew by 73 percent and reached more than 700,000 sqm of logistics and industrial spaces and a total market value of EUR 364 million. According to CTP officials, 2017 is the year with the most accelerated development pace: over 180,000 sqm GLA were built by the company in Romania and approximately 300,000 sqm are in the construction pipeline with delivery dates estimated for Q1 2018.
“2017 was our best year so far. The stock of logistics and industrial spaces grew and exceeded 700,000 m2 and we invested according to plan in CTPark Bucharest West which is designed to become the largest logistics park in Eastern Europe. We continued to invest and acquire land and properties in key areas of Romania. In the future we will maintain our development’s rapid pace according to the needs of our current clients, but we plan to begin some speculative constructions too”, Ana Dumitrache, Co-Country Head of CTP Romania stated.
Currently, the vacancy rate of the spaces ready to be leased is under 3 percent. In the first three quarters of 2017, new leasing agreements were signed with strategic clients in 7 parks owned by CTP near Bucharest and other strategic locations in Romania. Some of the deals are with new tenants and other agreements are with existing clients that expanded their spaces to accommodate the needs of their growing businesses.
2017 also marked important investments in the construction of new buildings and acquiring of new industrial parks near the capital and throughout the country. Such investments as CTPark Bucharest West, CTPark Timisoara, CTPark Cluj II, Chitila Logistic Park strengthened CTP’s position as the largest developer and administrator of class A logistics and industrial spaces in the country.
CTP’s plans for 2018 include the development of circa 200,000 sqm in CTPark Bucharest West and 290,000 sqm in different cities of Romania, such as: Pitesti, Cluj, Turda, Chitila.