CTP has started the development of a new industrial project in Arad with a leasable area of around 100,000 sqm. CTPark Arad West will be the third project owned by CTP in the city.
The new project will accommodate both CTFlex spaces for small and medium-sized companies and CTSpace spaces for companies that need generous floor space. The leasable spaces will range from 500 sqm to 15,000 sqm.
CTPark Arad West will be located in the industrial area of Arad, close to the A1 motorway and the future pan-European transport corridor Bucharest-Timisoara-Arad-Nădlac.
"Location, location, location is everyone's mantra when talking about properties and choosing a real estate space, and our project in Arad has a truly strategic location. I am sure the players active in the Arad market are well aware of the advantages of this key location. What we still have to show are the advantages of our premium, energy-efficient buildings, built to advanced international standards, which will really help them to attract workforce and keep under control the utility costs, which have become as important as the rent," said Ana Dumitrache, Country Manager CTP Romania.
Development work will start in the last quarter of 2022, and the first of the planned 100,000 sqm will be delivered in 2023. CTP currently has around 290,000 sqm under development in several cities in Romania, including Arad, Oradea, Timișoara and Bucharest.
Across the country, CTP owns a total area of approximately 2.2 million sqm of class A warehouses in 15 cities.
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