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CTP plans to invest €200 million in Slovakia to satisfy high demand for industrial property and targets 1 million m2 portfolio by 2023

Since the company’s founding 22 years ago, it has grown to be the largest and most sustainable industrial real estate developer in CEE region. After recently announcing its intention to float its shares on the Euronext Amsterdam and setting up the statutory seat in Utrecht, CTP has now appointed a CTP Netherlands Country Head and plans to invest €300 million.

CTP, a Dutch industrial real estate developer which has listed on the Euronext Amstersam stock exchange last week, announces the acquisition of an industrial park in Žilina, consisting of existing buildings and land for further development in strategic location by Žilina airport. New park will provide a leasable space of 145,000 m2 after completion. CTP plans to invest €200 million over the next two years to more than double its current Slovak portfolio of 460,000 m2 in 12 locations.

Stanislav Pagáč, Head of CTP Slovakia, comments:

“CEE has been experiencing strong acceleration in the demand for logistics and industrial space - in 2020 the occupancy in our parks reached 98% while our rental income has grown by 24%. There is a sizeable undersupply of the logistics stock in the Central and Eastern Europe with less than 50% of stock per capita than in Western Europe, which is spurred by new consumer habits such as online shopping but also new emerging manufacturing trends such as near-shoring. Our strategy is to expand our CTPark network to strategic locations throughout Slovakia to take advantage of the unique posi-tion of the country, which is a natural gateway between East and West, connecting Austria, Poland, Czech Republic and Hungary,”

Today, the company acquired an industrial park which will soon become the new CTPark Žilina Air-port. The park now consists of three modern industrial buildings providing 25,000 m2 of logistics space with long-term rental income secured in average for next 7 years, and adjacent land with po-tential to build 120,000 m2 of additional space for companies from CTP’s pool of more than 700 in-ternational and domestic clients. The city of Žilina is in the north-west of the country with close pro-ximity to both Czech Republic and Poland through prime motorway connections. Žilina is situated in Slovakia’s main high-tech/ automotive cluster centred around Kia Motors, Huyndai, and other Slo-vak and Polish OEMs. CTP already operates CTPark Žilina which is positioned at the Kia manufactu-ring site.

Ivan Šimo, CTP’s Slovak Construction Director comments:

“After the acquistion of CTPark Košice in 2019, we‘ve completed our second transaction with Immo-rent Slovakia with acqusition in Žilina. This deal strengthens our position in Slovakia and provides more development potential in the very attractive Žilina region. Our intention is to start developing a new 24,000 m2 building in the location in just a few months to meet growing tenant demand.”

CTP has currently 88,000 m2 under development in sites in Bratislava, Trnava, Košice and Prešov. All new CTP buildings are being constructed to BREEAM standards “Excellent” and higher, along with CTP’s longterm commitment to sustainability and carbon neutrality operations. This year, CTP will start installing photovoltaics on their facilities’ rooftops with 2 MWp capacity and plans to do so on its entire portfolio where feasible, including CTPark Žilina Airport.

About CTP

CTP is a top five industrial property and manager developer in Europe and the largest in CEE, holding over 6.3 million m² of logistics space across eight countries. The company plans to expand its portfolio to 10 million m² by 2023. With its entire portfolio BREEAM certified, CTP claims the position of the most sustainable developer in the region and is on track to reach carbon neutrality this year. At the end of March CTP has listed on the Euronext Amsterdam stock exchange, issuing 397,017,000 shares priced at EUR 14 per share. This implies a market capitalisation for the company of EUR 5.6 bln.