Up an till the end of September last year, the development group CTP increased its gross rental income by 15.3 percent year-on-year to EUR 227.8 million (approx CZK 5.95 billion). Occupancy of buildings owned by the company increased by a percentage point to 95 percent compared to the end of June.
“The demand for logistics real estate is growing significantly in all our markets, ie not only in the Czech Republic, but also in other Central and Eastern European countries where we operate. The interest is mainly from e-shops and logistics companies. We are not worried about the future of the automotive industry, which is one of the driving forces of the economy of many Central and Eastern European countries, including the Czech Republic,” said CTP Sales Manager Jakub Kodr.
The area of CTP’s leased premises increased by 5.6 percent year-on-year to 5.89 million square meters in the third quarter. According to the owner of the company Remon Vose, the group prefers its own construction instead of buying halls and land. “We do not want to build fast prefabricated parts, the buildings should last at least 50 years. Fortunately, the industrial buildings we specialize in don’t change as much as, for example, offices or retail spaces, ”added Vos. The company’s goal is to reach ten million square meters of leasable space by 2023 and further expand in current and new markets.
Source: CTK
