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BUCHAREST (Romania), September 13 (SeeNews) - Czech real estate developer CTP said it plans to invest 15 million euro ($17.9 million) in a new logistics park in northwestern Romania.
CTPark Cluj II will be located near the city of Cluj-Napoca and will be completed in two stages, CTP said in a press release on Tuesday.
The first stage is expected to be completed in March 2018 and the second after June 2018.
The logistics park will have a total leasable area of 29,000 sq m, of which 8,000 sq m have already been leased out to a strategic customer.
This will be CTP's second logistics park in Cluj county, after CTPark Cluj I, which was completed in 2016 in Apahida, near Cluj airport.
CTP plans to invest a further 4.5 million euro in the expansion of CTPark Cluj I by adding 10,500 sq m to the existing 23,000 sq m. The building will be completed in November this year and will be occupied by Romanian retailer Profi.
At the beginning of September, CTP bought two logistics parks located in western Romania from Slovak group IPEC for 18 million euro. The two parks are located in Ineu, Arad county and Salonta, Bihor county and have a total leasable area of 37,000 sq m.
In August, the company announced that it is investing 13 million euro in the expansion of its second logistics park in the western Romanian city of Timisoara.The developer will add 32,000 sq m to its CTPark II in Timisoara to meet increasing demand for logistics space in the area.
In July, the European Bank for Reconstruction and Development and Romania's Banca Comerciala Romana arranged a package of 75.8 million euro to finance the expansion of CTP's logistics park in the capital Bucharest.
CTP specialises in the delivery and management of custom-built, high-tech business facilities for leading international and domestic companies making strategic investments in new or expanded operations in Central Europe. At the moment, it owns 10 industrial and logistics park across Romania and other 48 in the Czech Republic, Slovakia, Ukraine, Hungary, Slovenia and Poland.
($ = 0.8363 euro)