The real estate developer CTP had a portfolio growth of 73 percent and reached more than 700,000 square meters of industrial spaces in Romania in the last quarter of 2017.
The company has a total market value of EUR 364 million and over 180,000 square meters GLA in Romania were built by CTP. Strategic clients from 7 parks owned by CTP signed new leasing agreements in the first three quarters of 2017. The vacancy rate of the spaces ready to be leased is under 3 percent for now.
“We continued to invest and acquire land and properties in key areas of Romania. In the future we will maintain our development’s rapid pace according to the needs of our current clients, but we plan to begin some speculative constructions too,” stated Ana Dumitrache, co-country head of CTP Romania.
CTP had several investments in 2017. It started to construct two buildings in Bucharest of 100.000 sqm that are scheduled for delivery in quarters 1 and 2 of 2018. CTP invested in almost 21,000 sqm for the Phoenix project.
The company also invested in Cluj and Timisoara. The most recent addition to the portfolio is Chitila Logistic Park (CLP), a 45,000 sqm GLA property close to Bucharest.
CTP concluded a total of EUR 117 million financial agreements in 2017 with European Bank of Reconstruction and Development, BCR, Banca Transilvania, Alpha Bank and Bancpost. The company plan to extend in 2018 in other Romanian cities like Pitesti and Turda.