CTP has increased its rental portfolio to some 664,000 sqm gross with the completion of its latest project in Biatorbágy. The company has been developing its industrial parks, with 235,000 sqm of new space in advanced stages of construction and a further 322,000 sqm to start construction in the near future with an added emphasis on sustainability.
With the 30,000 sqm project completed in Biatorbágy in June, CTP's Hungarian portfolio now comprises 664,000 sqm of space for rent in 11 locations. It has already leased 98% of existing space and has pre-lease contracts for some 60% of ongoing developments, accounting for 141,000 sqm of the 235,000 sqm.
Plans for 2022 and 2023 call for a further 322,000 sqm to be developed, of which 30,000 sqm, or nearly 10%, has been rented out already.
"In line with our regional growth plan, our objective is to increase gross space for rent in Hungary to 1 million square meters by the end of 2022, nearly double the early 2021 amount. Major projects are under way in Biatorbágy, Vecsés, Üllő, Tatabánya, Komárom and Győr, and the leased rate of these also gives cause for optimism," Dávid Huszlicska, Country Head Hungary at CTP, said.
Global results
CTP N.V. is active in more than 100 locations in 9 countries, with 6.3 million sqm logistics property combined. The company aims to increase its portfolio in the CEE region to 10 million sqm by the end of 2023, and to make its operations carbon-neutral as early as in 2021. CTP will complete its first fully carbon-neutral building in 2023, and all of its facilities will operate in a sustainable manner by 2025 according to plans.
