CTP has leased circa 18,000 sqm of industrial and logistics space at CTPark Prešov South in Slovakia to a Chinese company producing interior parts for the automotive sector.
Jiangsu Xinquan Automotive Trim is leasing 17,486 sqm, combining warehouse and office space. This will be Jiangsu Xinquan’s first plant in Europe. It is also evidence of the nearshoring trend where multinationals are increasingly basing their manufacturing closer to where their customers are located, in response to global supply chain disruptions and a shifting geopolitical backdrop.
CTPark Prešov South is strategically located in Slovakia’s third-largest city, with a motorway connection to Košice (40km) and the automotive cluster in Žilina /Martin (200km), and easy access to Poland (70km). The Prešov region benefits from a skilled workforce, competitive labour costs, a diversified local economy with an industrial heritage and the highest available level of state aid.
The CEE region, in particular Slovakia, the Czech Republic, and Hungary, has established itself as an automotive manufacturing hub worldwide and surpassed Germany in nominal car production in 2022. Asian companies (mostly from China, Japan, and Korea) are part of this trend, having been steadily investing in the CEE region since the 2000s, and their investment is set to increase further given that Europe has emerged as a pivotal component of China's worldwide expansion in the electric vehicle sector.
CTP invested in speculative land purchases in the east of Slovakia several years ago. It owns and operates three parks in eastern Slovakia - CTPark Prešov South, CTPark Prešov North and CTPark Košice.
