01. 07. 2024

CTP LEASES OVER 100,000 SQM OF INDUSTRIAL AND LOGISTICS SPACE ACROSS HUNGARY TO AUTOMOTIVE INDUSTRY LOGISTICS SPECIALIST

Budapest, June 2024 – CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has leased over 100,000 sqm of logistics space across its business parks in Hungary to a leading Korean logistics specialist for the automotive industry.

CTP’s latest tenant, which serves some of the largest e-automotive companies in Europe, is taking new space as well as expanding in multiple CTParks within CTP in Hungary. The company has selected CTPark Budapest West as the location for its distribution centre, a state-of-the-art warehouse space within CTPark Budapest West’s building complex of nearly 300,000 sqm floorspace, the largest CTPark in Hungary and the sixth largest in the CTPark Network, with plans underway to develop an additional 80,000 sqm. Housing Hungary’s first ever “Outstanding”- rated BREEAM-certified building, CTPark Budapest West boasts exceptional connectivity, being located next to the town of Biatorbágy at the M1 highway, in the vicinity of the M0 ring road and only 15 kms from Budapest city centre.

The automotive supplier is also extending its existing space at the CTPark Komárom business park. Located at the Hungarian-Slovakian border by the town of Komárom, CTPark Komárom has superior road access to the main M1 motorway and major Europan cities, making it an ideal location for both manufacturing and warehousing. The property is only 40 kms from the Audi factory in Győr, 85 kms to Budapest, 80 kms to Bratislava and 150 kms to Vienna.

The CEE region has firmly established itself as a highly efficient automotive manufacturing hub worldwide. Within the six CEE countries there are a total of 33 car manufacturing plants, and the region surpassed Germany in nominal car production in 2022. Eurostat data shows that car production in the CEE has increased by almost 50% over the past eight years, reflecting the Foreign Direct Investment (FDI) inflows and illustrating the strength of the CEE region as the leading production location in Europe.

Ferenc Gondi, Managing Director CTP Hungary said:

“The CEE, and Hungary especially, is becoming an increasingly strategic location for the automotive industry. We are thrilled that our existing business partner has selected our CTParks again across Hungary to grow its operations in the sector. Not only is CTPark Budapest West the largest CTP Park in Hungary, it is exceptionally well-connected and offers state-of-the-art facilities and progressive sustainable credentials, an astute choice for our client’s new distribution centre.”
 

Bordering seven countries in the heart of Central-Eastern Europe, Hungary’s optimal geographic location has attracted significant FDI inflow in recent years. Robust national infrastructure, a tradition of logistics, and one of the highest densities of Trans-European Transport networks in Europe all facilitate movement across CEE and into the nations of Europe’s south. Hungary’s low corporate income tax and relatively limited bureaucratic red tape make it easy for investors to capitalise on a bustling domestic market and proximity to a vast network of consumers abroad.

 

 

 

ABOUT CTP

CTP is the largest listed owner, developer and manager of logistics and industrial real estate in terms of gross leasable area, with 12.0 million sq.m. GLA in 10 countries (as of 31 March 2024). The company certifies all new buildings to BREEAM at a level of ‘very good’ or above and has achieved a low-risk ESG rating from Sustainalytics, reaffirming its commitment to sustainability. For more information, please visit: www.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
Sara Champness/James Carnegie
Mobile: +44 (0)7962 387 949
Email: CTP@SECNewgate.co.uk

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