CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, strengthens in 2018 its position of the largest owner of storage and production spaces located near Bucharest. According to a press release, the company will complete the construction of several warehouses and start new developments in its three logistics parks situated in the vicinity of the 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 m2. CTP plans a total expansion of at least 300,000 m2 at national level.
This year will be marked by a strong development process in the western part of Bucharest, where CTP owns three properties. Overall, the company scheduled the delivery of approximately 236,000 m2 GLA near Bucharest, distributed as follows:
- In CTPark Bucharest: a 50,000 m2 GLA warehouse is being built with delivery estimated for Q1 – Q2 2018;
- In CTPark Bucharest West: three warehouses with a total surface of 175,000 m2 GLA are currently under construction and will be finalized in Q1 – Q3 2018;
- In CTPark Bucharest North (former Chitila Logistic Park): the first phase of development for circa 11,000 m2 GLA was started at the end of 2017 and the whole process will be finalized in Q4 2018.
During 2018 the refurbishment works that are currently taking place in the logistics park from Chiajna (former Phoenix Logistics Center) will be also finalized. This park was acquired by CTP in 2017 and integrated in CTPark Bucharest. The last phase of the upgrade and refurbishment process will start in Q2 2018 and will end in Q3 this year.
“In 2018 we will continue to grow rapidly, at the same pace that we had last year, which was the best year of CTP since its entrance on the local market. We plan to focus in an equal manner on constructions and acquisitions of new properties. We will keep on developing intensively in the vicinity of Bucharest, because obviously this is the area with the highest demand for leasing industrial and logistics spaces throughout the country. The largest area of new storage facilities will be delivered in CTPark Bucharest West that we are determined to make the biggest logistics park in Eastern Europe in the next two years. Therefore, we will strengthen our position as leaders in what concerns the dimension of our portfolio, both near Bucharest and throughout the country. CTP will continue the expansion processes began last year in its parks across the country and will also start new construction works”, stated Ana Dumitrache, co-country head of CTP Romania.
CTP’s plans for 2018 include, among other projects, the completion of the developments began in its parks from Timisoara and Cluj-Napoca as well as continuing the development of CTPark Pitesti.