Largest warehouse owner in Romania plans new project near Bucharest

Real estate developer CTP, the largest owner of warehouses in Romania, will begin this spring the construction of a large logistics park in Stefanestii de Jos near Bucharest, on a plot of about 19 hectares bought last year from Willbrook, according to information obtained by Profit.ro.

Last year, real estate developer Willbrook, owned by Israeli billionaire Eyal Ofer, sold the land to CTP for about EUR 6 mln.

The land is adjacent to the Stefanesti forest and the former owner was planning a residential project there. Given the connection with the A3 motorway, the new owner wants to build a logistics park instead, with an area of about 90,000 square meters, dedicated mainly to electronic commerce.

“We will start the project this spring, with units starting from 3,000 sqm for warehouses, logistics spaces, and spaces with controlled environment and temperature. We plan to invest about EUR 60 mln in this project, which will be completed next year. The project will support the increasing e-commerce consumption,” said Remon Vos, CEO and one of the founders of CTP.

So far, CTP has invested about EUR 500 mln in more than one million square meters of industrial and logistical spaces located in 15 parks in Romania. The investor also has more land for expansion, worth about EUR 25 mln.

(Photo source: the company)