CTP has entered the Italian market through the €241 million acquisition of VLD S.r.l., a development company with a landbank in prime locations previously controlled by FBH Group. This marks the start of CTP's planned €1 billion investment in Italy over the next five years.
The acquisition provides CTP with an 8.7 million sqm landbank across northern and central Italy, including 1.7 million sqm of owned land, 2.7 million sqm under contract subject to zoning, and 4.3 million sqm under option. Multiple projects are under construction with 200,000 sqm scheduled for completion in 2026 for clients including ALS Luxury and CEVA.
"We continue to expand into Western Europe in line with our business plan and plan to invest one billion Euros into Italian projects over the next five years," said Remon Vos, CEO at CTP. "We see great potential in Italy where demand for modern and sustainable logistics space is growing, yet the market remains relatively undersupplied."
Italy's industrial base aligns with CTP's experience in Central and Eastern Europe serving manufacturing tenants, which represent nearly 50% of the Group's portfolio. The Italian market remains undersupplied in Grade A logistics space with around 0.5 sqm per capita, compared to over 1 sqm per capita in most other Western European markets.
VLD will be renamed CTP Italy, with the landbank having potential to deliver around 3.5 million sqm of GLA. The acquisition reinforces CTP's position as Europe's largest listed owner, developer and manager of logistics and industrial real estate, growing its total landbank to 34.4 million sqm.
