Earlier this year, the developer bought A1 Bucharest Park for a approximately EUR40 million. The developer already owns CTPark Bucharest West, CTPark Bucharest and CTPark Bucharest Chitila in the vicinity of the Romanian capital city.
CTP plans to continue investing in CTPark Bucharest West, for which it secured a credit line of EUR82 million from BRD-Groupe Société Générale and Komerční banka. The park is set to be expanded to 1 million square meters from a current area of 400,000 sqm, making it one of the largest industrial and logistic parks in CEE, said Remon Vos, CEO of CTP.
“Our target is for this project to reach 1 million sqm in the next few years, so we have approximately 600,000 sqm to build to reach this milestone and transform Bucharest into a logistics hub for Eastern Europe,” said Vos.
Besides Bucharest, CTP owns class A industrial and logistics parks in Arad, Cluj and Timisoara, totaling over 1 million sqm, and plans to continue development. CTP has invested over EUR500 million in Romania since entering the market.