Industrial developer CTP has announced the leasing of 19,000 sqm of warehouse and office space in Serbia-based CTPark Novi Sad East to Shanghai Huizhong Automotive Manufacturing (SHAC), a Chinese supplier of car parts and systems.
This park is strategically located in north of Serbia, offering connectivity with direct access to the international railway network that passes through the city. It is positioned just 100 kilometres from the EU border and 90 kilometres northwest of Belgrade, making it an ideal hub for cross-border business.
“This deal is a clear indication of how the region is becoming an increasingly attractive destination for global manufacturers, and especially Asian companies with whom 20% of our leases were signed in 2024. We have seen strong demand across various industries and expect this trend to accelerate as companies continue to nearshore production closer to their European customers,” says Petar Kolognat, Business Development Director at CTP.
The facility will focus initially on the production of chassis components for BMW. Construction of the first phase is set to begin in February 2025, with operations expected to begin in December 2025. The first phase will cover 19,000 sqm, with the potential for future expansion up to 30,000 sqm.
Gong Min, Deputy General Manager at SHAC, added that this is the first European manufacturing facility of the company, which will serve as a development base for the region.
CTP’s portfolio in Serbia covers 500,000 sqm across seven parks.
