CTP announces 15 percent portfolio growth in 2020

CTP, CEE’s largest logistics property developer announces 15 percent annual growth to reach 344 million Euro of annualised rental income by the end of 2020. With a portfolio of 6.3 million sqm and 740 thousand sqm under construction at year end 2020, CTP solidified its position as the largest logistics property owner and developer based on GLA in the Czech Republic, Romania and Serbia while announcing new developments in Austria, Poland and Bulgaria.

“From a business perspective, one of the best years in CTP‘s history,” says Remon Vos, CEO of CTP. “Despite the global pandemic we have grown our business significantly. With 2020 in the books, CTP now has 22 years of uninterrupted, profitable organic growth. Our portfolio is set to markedly exceed 7 million sqm by the end of 2021 and CTP is well on track to reach 10 million sqm of total lettable area by the end of 2023.”

As of year-end 2020, 740 thousand sqm of developments was under construction to be finished during 2021. Of this, 63 percent was already pre-let to existing and new clients. Also, a total of 235 million Euro will be spent on capital expenditure to complete these developments during 2021. CTP’s available funding per year end 2020 consists of a mix of committed bank facilities plus a large cash position and is well in excess of the amount needed to complete these developments.