BUCHAREST (Romania), June 23 (SeeNews) - The European Bank for Reconstruction and Development said on Wednesday that it is investing 42.5 million euro ($50.7 million) in the 500 million euro green Eurobond issue by Czech real estate developer CTP to support CTP's expansion in Romania, Serbia and three other European countries.
The proceeds from the bank’s investment will be used to finance the development and acquisition of sustainable industrial parks in Hungary, Poland, Romania, Serbia and the Slovak Republic, the EBRD said in a press release.
CTP is the largest full service industrial and logistics property owner-developer in central and eastern Europe, with a portfolio of 100 industrial parks in key hubs, according to the bank.
"The investment addresses challenges related to supply chains and logistic infrastructure in the EBRD’s regions, by supporting CTP’s continuous development of the logistics sector," Vlaho Kojakovic, EBRD director for property and tourism, said.
As part of the EBRD’s investment, CTP is committing to reduce the greenhouse gas emissions in its supply chain. In addition, and with EBRD support, the company aims to upgrade skills standards and policies in green industrial real estate management, logistics and engineering.
In March, CTP said that it aims to complete the construction of new buildings with a total area of 300,000 sq m in Romania by the end of 2021, with investments planned for these projects amounting to 200 million euro.
CTP is an European commercial real estate developer and manager providing complete services in the real estate sector. CTP owns the ctPark Network in Central and Eastern Europe, with over 6 million sq m of Class A real estate in more than 100 strategic locations in seven countries. In addition to the Czech Republic, CTP is present in Slovakia, Hungary, Serbia, Romania, Poland and Bulgaria.