CTP leases over 60,000 sqm in Romania in Q1

Newsroom 20/04/2016 | 16:11

Real estate developer CTP says leasing activity in Romania picked up during the first quarter of 2016 when it leased over 60,000 sqm of industrial and logistics space, according to company representatives. The 15,000 sqm lease agreed with OTZ was one of the largest signed in the country in Q1, with Laboratoarele Fares Bio Vital taking an additional 3,000 sqm in CTPark Deva, according to the same source.

“We are registering high demand across Romania, driven mainly by 3PL’s and the manufacturing sector,” said Marian Orzu, head of business development and leasing Romania.

CTP has had an aggressive expansion policy in Romania last year, when it has reached a portfolio of approximately 340,000 sqm of logistics and industrial parks after buying five projects. Following investments of approximately EUR 150 million, the Ductch-owned developer has become the largest logistics and industrial space owner in the country.

Overall, CTP has concluded approximately 260,000 sm in new lease deals in Q1 2016, taking total lettable area within the ‘CTPark Network’ to 3.5 million sqm across seven CEE markets where it is active. Over half of this volume – 151,000 sqm – was concluded in CTPs core market, the Czech Republic.

Simona Bazavan