News Article Belgrade CTP development industrial land logistics SEE Serbia
by Property Forum | Industrial

CTP has completed the acquisition of 27.5 hectares of land close to Belgrade city centre and is moving plans forward to develop CTPark Belgrade Centre, which will become Serbia’s largest logistics and technology facility to date with over 130,000 sqm of gross lettable area. The new CTPark will be strategically located 6 km from Belgrade’s city centre, 2 km from New Belgrade, and 5 km from Airport Belgrade.  

Vlatko Djuricek, CTP’s Country Head for Serbia, who secured the deal and lead the business discussions, confirms that the situation on the Serbian market is similar to other CEE markets where logistics stock is significantly lower than in the West, creating a short supply of warehouse and other industrial space: “Logistics property is in massive demand due to booming e-commerce and there is an undersupply of available space on the Serbian market. Over 80% of CTP's new business is done with our existing 700 clients and several of those are now ready to expand. CTP Belgrade Centre will be constructed in two years, but 40% of the space is already pre-leased to our tenant Tehnomanija.” 

Tehnomanija, a leading retail and e-commerce consumer electronics chain and CTP’s long-term tenant at CTPark Belgrade North (currently largest logistics park in Serbia), has preleased 50,000 sqm in the new park, with CTP starting the construction next year and a handover set for Q1 2023. 

Kveta Vojtova, CTP’s Head of M&A and Transactional Legal lead the complex M&A negotiation process and Oliver Oros, CTP’s Head of Leasing Legal along with Vlatko Djuricek lead the negotiation of the lease. 

CTP is the Serbian logistics property market leader with five logistics and industrial parks in a total size of 355,000 sqm of leasable space.