CTP OPENS ASIA OFFICE AMID GROWING DEMAND FOR EUROPEAN I&L SPACE

Amsterdam, 21 August 2023 – CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has opened its first office in Asia. CTP’s new Asia office reflects the growing demand from its Asian client base for increased production capabilities in Europe driven by the pandemic and a changing geopolitical environment that have increased supply chain risk.

The new office will be based in Hong Kong and headed up by Jaromir Cernik, who joins from fast-growing fintech company Qupital, where he served as a Board Member and Director. Based in Hong Kong for over 20 years, Cernik brings a diverse experience in managing different businesses and a wealth of financial and investment expertise with him. Having previously worked with CTP in his roles with CzechInvest and the Czech government, Cernik’s initial focus for CTP in Asia will be on developing clients in Mainland China, Hong Kong and Taiwan.

The growing demand from international companies to expand their industrial and logistics space in Europe has been driven by a changing geopolitical environment, with organisations increasingly seeking to build resilient and ESG-compliant supply chains by nearshoring their production capabilities closer to their end customer base. New and planned EU regulations, reflected in the European Commission’s support for the development of European Value Chains (EVCs), are also starting to encourage companies selling goods in Europe to make them in Europe, while firms storing customer data or using certain types of complex technology will increasingly need to locate these operations within the continent for cyber security reasons.

Central Eastern Europe (CEE), with its close proximity to Western European markets, is exceptionally well placed for multinationals nearshoring. It also benefits from a strong manufacturing base, a wealth of skilled human capital, attractive labour costs, market connectivity and robust and growing economies that have all combined to make the region a nearshoring hot spot. The continued growth of emerging high-tech industries such as the electric vehicle (EV) industry and micro and consumer electronics is contributing to the demand for facilities in Europe, with its access to skilled and competitively priced labour essential for manufacturing automation.

One example of a CTP client increasingly nearshoring is Taiwanese electronics manufacturer Inventec, which supplies some of the world’s largest computer and automotive companies.

About CTP
CTP is Europe’s largest listed owner, developer, and manager of logistics and industrial real estate by gross lettable area, owning 11 million sqm of GLA across 10 countries as at 30 June 2023. CTP certifies all new buildings to BREEAM Very good or better and earned a ‘Low-Risk’ ESG rating by Sustainalytics, underlining its commitment to being a sustainable business. For more information, visit CTP’s corporate website: ctp.eu

CONTACT DETAILS:
CONTACT DETAILS FOR ANALYST AND INVESTOR ENQUIRIES:

Maarten Otte, Head of Investor Relations
Mobile: +420 730 197 500
Email: maarten.otte@ctp.eu

CONTACT DETAILS FOR MEDIA ENQUIRIES:
Patryk Statkiewicz, Group Head of Marketing & PR
Mobile: +31 (0) 629 596 119
Email: patryk.statkiewicz@ctp.eu

SEC Newgate
James Carnegie
Mobile: +44 (0)7827 486 224
Email: CTP@SECNewgate.co.uk