CTP has acquired 17.9 hectares of land in northern Bucharest for an undisclosed sum. The land was bought from two businessmen who were planning to invest €50 million in a logistics project.
The development plan includes four warehouses with a total leasable area of 85,000 sqm, alongside parking spaces for heavy trucks and passenger cars.
The land plot is located near the 19-hectare land where CTP is currently developing CTPark Bucharest with a leasable area of 100,000 sqm, according to profit.ro.
CTP recorded €47.3 million in rent income from Romanian properties in 2020, up 15% compared to the previous year.
For this year, the developer has an investment budget of €200 million for the construction of around 300,000 sqm of warehouse space in logistics parks in several Romanian cities. The company went public last spring and reached a valuation above €5 billion.
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