Czech real estate developer CTP investing 65 mln euro in new logistics park in Romania

Czech real estate developer CTP said it is investing 65 million euro ($76.4 million) in a new logistics park in southern Romania, near the capital Bucharest.

CTPark Bucharest North will be located in Stefanesti, Ilfov county and will be completed in several stages until the end of 2021, CTP said in a press release on Wednesday.

The first 20,000 sq m are expected to be completed in November, while another 20,000 sq m should be ready in the first quarter of 2021, the company added.

The logistics park will have a total leasable area of 100,000 sq m, of which 10,000 sq m have already been leased out to transport and logistics services provider DSV Group.

CTP specialises in the delivery and management of custom-built business facilities for international and domestic companies making strategic investments in new or expanded operations in Central Europe.

At the moment, it owns over 1.25 million sq m leasable area in ten Romanian cities: Arad, Bucharest, Cluj-Napoca, Deva, Pitesti, Sibiu, Timisoara, Turda, Ineu and Salonta.