December 18 (SeeNews) - Czech real estate developer CTP said on Monday it has leased 13,000 sq m of production space in its industrial park in the western Romanian city of Deva to Chinese automotive component manufacturer KSHG Auto Harness.
The company is thus expanding its presence at the CTPark Deva II, having already taken 8,000 sq m of production space there last year, CTP said in a press release.
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The deal reflects growing demand from multinational companies looking to nearshore the production of their goods destined for European markets, CTP said.
When KSHG Auto Harness moved to CTPark Deva II in 2022, it created 400 jobs in the process, CTP said.
KSHG Auto Harness is the European arm of China's Kunshan Huguang Automotive Electric, which was established in 1988 and specialises in the development and production of high- and low-voltage cable sets for motor vehicles.
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. In Romania, the company owns warehouses in multiple cities with a total area of over 2.6 million sq m, with the country being its second largest market.