CTP to invest 250 million Euro in Romania so far

2016-10-21 21:43:30 - From the Print Edition

CTP, one of the largest investors and developers of logistics projects in Romania, has invested 250 million Euro on the local market so far, according to a press release issued to The Diplomat – Bucharest. The company counts a portfolio of A-class industrial properties which exceeds 500,000 sqm and is planning to extend that portfolio to one million sqm by 2018. Currently, CTP is constructing various properties throughout the country while concurrent projects in Timisoara and Arad are being leased. "CTP has recently handed over a 25,000 sqm distribution centre in Cluj to Profi and new construction is underway in Bucharest with 30,000 sqm under construction in CTP′s Bucharest West Park, previously owned by ProLogis," said Marian Orzu, head of Leasing and Business Development Department. "10,000 sqm out of the 30,000 sqm remain available." CTP has also obtained a building permit for another building in the same park with a lettable area of 60,000 sqm and it plans to start construction during this year. Also at CTPark Bucharest, acquired from Portland Trust, CTP has completed its first project with a lettable area of 15,000 sqm for tenants like Englmayer, DSV and Iron Mountain. At CTPark Bucharest, CTP has 100,000 sqm of land available for new construction. Moreover, 22,000 sqm is now under construction to accommodate clients like Raben. CTP's projects are being co-financed by different banks, including Erste Bank, Societe General and Raiffeisen. "In addition to warehousing and distribution, CTP's strength is in completing properties for companies involved in manufacturing, such as the 15 million Euro project in Pitesti / Catesca which is being handed over to French automotive giant, Faurecia," added Marian Orzu. In addition to the new construction, CTP continues to invest in refurbishment and upgrading its existing properties in order to ensure these are in accordance with the latest standards. Properties under construction are built in accordance with BREEAM standards and sustainability. CTPs team currently counts around 30 people in Romania. CTP is a full-service international developer, specialized in delivering and management of high-tech personalized business parks.