ARTICLES LABELLED WITH TAG CTP

The CEO of CTP believes that logistics is a future-proof investment product that can make or break a company's success. The developer is moving ahead with full speed and hopes to increase its portfolio to 8 million sqm within the next few years. Remon Vos talked to Property Forum in Budapest about current plans and the future of industrial/logistics as an asset class.

CTP is significantly expanding activities on the Hungarian market. The company announced two new land acquisitions in strategic locations during its presentation for real estate agents and journalists. The first plot of land is located in Biatorbágy, and the second land plot is near Dunaharaszti, which is one of CTP’s newest locations. These acquisitions are a result of CTP’s expansion plan, which will increase the value of assets owned by the group in Hungary from €250 million to €320 million by the end of 2018.

The EBRD and ING Romania are joining forces to finance the logistics park CTPark, situated on the A1 Bucharest-Pitesti motorway and 2 km away from the Romanian capital. The financiers have arranged a package of €96 million, of which the EBRD is providing €43.8 million and ING €52.2 million.

CTP has appointed Andreea Odovinca as Chief Financial Officer for Romania. She will be responsible for ensuring the efficiency of financial functions, the quality of the information provided by the department, staff development and performance management.

CTP is significantly expanding on the Hungarian market, announcing two new land acquisitions in strategic locations. The first plot of the total of 30 hectares investment is located in Biatorbágy next to the M1 highway, the second land plot is near Dunaharaszti. These acquisitions are a result of CTP’s ambitious expansion plan in the country, which is the primary task of new Country Manager Rudolf Nemes.

In 2017, CTP increased its portfolio by approximately 680,000 sqm and reached a record 4.5 million sqm. Occupancy of its industrial real estate — spread across over 82 locations in the region — came to 97.7%. The greatest expansion occurred in the Romanian and Hungarian markets. By 2022, CTP aims to double its portfolio, reaching 10 million sqm.

CTP and DSV, the fifth biggest global transport and logistics companies, signed a leasing agreement for approximately 40,000 sqm in CTPark Bucharest West. CTP invested about €12 million in the development of the new logistics spaces occupied by the Danish company in the first days of February.

This year, CTP will finish the developments began in 2017 in its parks situated near Cluj-Napoca and Timișoara and will continue the development of the logistics park located in the vicinity of Pitești.

CTP announced changes and the expansion of its management team, both local and international. Ana Dumitrache, who has been the company’s Romanian Co-Country Head for 14 months, will leave CTP on 1 February to pursue a new career opportunity. Company COO Robert Pitt will take over the tasks of Ana Dumitrache. Remon Vos, CEO of CTP and Country Head for Romania will continue his position.

CTP will complete the construction of several warehouses and start new developments in its three logistics parks situated in the vicinity of the Romanian capital: CTPark Bucharest West, CTPark Bucharest and CTPark Bucharest North (former Chitila Logistic Park). It is estimated that by the end of 2018 their cumulated surface will reach approximately 680,000 sqm. CTP plans a total expansion of at least 300,000 sqm at national level.