Czech real estate developer CTP investing 50 mln euro to expand in Romania

Czech real estate developer CTP said it is investing 50 million euro ($59.2 million) to expand its logistics parks in central Romania, according to SeeNews.com.

During the first phase of expansion, CTP will add a 32,200 sq m building to Timisoara II park, it said in a press release.

In the second stage of construction that begins this fall and will end in March, CTP will deliver another 17,000 sq m in the same park.

The expansion of Timisoara II is part of CTP’s plan to double the leasable area of its ​​logistics spaces located in Romania’s historical area of Transylvania by 2023.

The retailer also said it plans to expand in the central area of ​​Transylvania, in its parks located in Turda and Sibiu.

CTP is a full-service commercial real estate developer which builds, manages and delivers custom-built, high-tech business parks throughout Central and Eastern Europe.

Read more HERE

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