CTP Leases Over 100,000 sqm of Industrial and Logistics Space Across Hungary to Automotive Industry Logistics Specialist
July 01 2024 - 1:00AM
Business Wire
Regulatory News:
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 Chinese 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 in Hungary. The company has selected
CTPark Budapest West as the location for its distribution centre, a
state-of-the-art warehouse space within the park’s building complex
of nearly 300,000 sqm floorspace, making it 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 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 European
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 for 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 across
Hungary to grow its operations in the sector. Not only is CTPark
Budapest West the largest CTPark 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 inflows 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 the 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.
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