CTP's Hungarian Logistics Portfolio Hits 1 mln sqm Mark
CTPark Budapest East
By the end of 2022, the size of the logistics real estate portfolio of CTP reached 1 million sqm in Hungary, the company tells the Budapest Business Journal.
The company now operates some 14 logistics parks in Hungary. CTP's Hungarian subsidiary has now has the third largest portfolio within the group, which has a presence in 10 countries and posesses some 10 million sqm of leasable industrial area.
In addition, CTP is planning to launch the largest real estate development in their history in Szigetszentmiklós near Budapest next year.
"The hard work is now coming to an end. The figures speak for themselves because while we started the year with sqm 500,000 in 2021, we will close 2022 with 1 million sqm, doubling our portfolio. It is hard to imagine what this volume means, but CTP's domestic real estate portfolio covers even more area than Margaret Island. With this milestone, we have further strengthened our leading position in the market, as CTP owns more than one-fifth of the total modern industrial/logistics stock in Hungary", stressed Ferenc Gondi, country manager of CTP Hungary.
The rapid growth can be attributed to a number of factors. On the one hand, global social and economic trends and lifestyle changes have made logistics an increasingly important asset class for the real estate sector. On the other hand, the company says that high quality and professional project execution, from design to operation, are a benchmark and reliability factor for CTP, which underpins the rapid expansion of its client base.
In addition, ESG aspects also play a prominent role in the life of the group. The company's portfolio in Central and Eastern Europe is fully Breeam certified, and CTP has moved to carbon neutrality from 2021, issuing green bonds, and their renewable energy capacity includes solar parks in their logistics centers.
Although a significant part of the market remains concentrated in the capital and its suburbs, CTP believes that, in addition to their parks in Western Hungary, locations in the east and south of the country will play an increasingly important role. The company has therefore continued to invest outside the agglomeration this year. CTP's portfolio currently consists of 700,000 sqm located in the Budapest area and 300,000 sqm in the rest of the country.
"The group is conquering the industrial real estate market at record speed with its speculative developments. The company, which is also listed on the Amsterdam stock exchange, has been building and operating their own warehouses in Europe for almost 25 years. It arrived in Hungary in 2016, where in just a few years it has become not only a market leader but also a trend-setter thanks to its innovative solutions and green approach. Full speed - that's our motto, and that's the spirit in which we work every day. While maintaining our market position, we have set ourselves the new goal of doubling our current portfolio by 2026," noted Gondi, outlining plans for the future.
The group will be adding adding 40,000 sqm of leasable space in Ecser in January and 35,000 sqm in Tatabánya in February. In addition, a new industrial park will be opened on a 62-hectare site just south of Budapest, where one of the largest, modern, energy-efficient industrial halls in the capital area will be built, with a floor area of 100,000 sqm.
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