CTP invests over EUR 150 mln in Bucharest West logistics park

CTP, a leading developer and long-term manager of premium industrial and logistics parks in Romania, aims to expand its CTPark Bucharest West logistic park to 700,000 sqm by 2020 and turn it into the biggest such project in Eastern Europe. The group’s total investment in the CTPark Bucharest West will exceed EUR 150 million by the first quarter of next year. The company currently has 100,000 sqm under construction in CTPark Bucharest West, and significant plans to continue this expansion. CTP acquired Bucharest West in 2015. The logistics park covered some 130,000 sqm back then, and the company has developed yet another 100,000 sqm. The park’s total surface covers about 150 hectares. In cooperation with local authorities, CTP aims to heavily invest in improving the infrastructure surrounding the park, located at 23 km West of Bucharest, as well as creating additional access roads and several highway exits to facilitate the transportation of goods for its tenants. CTP currently owns approximately 500,000 sqm of leasable area, distributed in two logistics and industrial parks, both with direct access from the A1 motorway: CTPark Bucharest (located at km 13) and CTPark Bucharest West (km 23). Nationwide, the company manages 650,000 sqm of leasable area, located near Bucharest and other nine strategic cities in the country. CTP plans to reach 1 million sqm in Romania by the end of 2018. editor@romania-insider.com