The gross lettable area of industrial locations operated by CTP has passed 6 million square meters. The growth has continued due to long term trends of increasing e-commerce and supply chain relocations, supported by the covid-19 crises.
Ana Dumitrache, the CTP Head of Romania, said:
“With the completion of our latest warehouse in CTPark Bucharest, CTP’s portfolio now exceeds 6 million sqm. Romania is contributing significantly to the Group’s growth, with a 25 % growth in our portfolio,”
CTP wants to reach 10 million m2 of floorspace by 2023 and has plans for dramatically increasing expansion, both in its current markets and into new markets. Earlier this month, CTP issued a debut EUR 650 million green bond, attracting a significant level of interest from investors. The bonds were several times oversubscribed, with investor demand peaking at more than EUR 2 billion. CTP’s inaugural green bonds became the largest debut issuance of a real estate company in the CEE region.
CTP eyes new markets
Remon Vos, CTP founder and owner, said:
“The finance generated by the bond issue is earmarked for CTP expansion in existing markets,”
CTP is currently seeing demand fueled by covid-induced changes to the way companies do business. Interest in new lettable space comes mostly from tenants in the e-commerce sector, in which warehouses of individual online shops are moving closer to customers. Vos sees great opportunities in Romania, where the company is now experiencing a period of rapid growth.
Remon Vos about CTP’s future plans:
“This year, we closed 85 percent of new business with existing clients that have broadened their activities in their current markets or expanded into new markets in the CEE region. We expect similar organic growth to continue, but we will also consider completely new strategic acquisitions if an opportunity arises in line with our portfolio.”