Central European industrial park developer CTP has launched its €75 mln expansion plan for Serbia, starting with the acquisition of a facility in Belgrade covering 12,000 m2 which is leased to Pheonix Pharm, an existing client of CTP.
CTP said it would make additional investments in Belgrade and Novi Sad and kick-start further development, targeting holdings of 120,000 m2 across the territory.
'After a couple of months of hard work, we delivered our first major acquisition in Serbia,' said CTP's country manager for Serbia, Vlatko Djuricek. 'It's a significant step in cementing ourselves as the premium developer in the country.'
The planned Novi Sad facility, with a delivery date of Q1 2019, will comprise over 23,000 m2 in a city which is regarded as one of the largest educational research centres in Central Europe.
CTP owns the CTPark Network, one of the largest business park networks in CEE with over 4.5 mln m2 of Class-A properties in more than 82 locations. The business is targeting a portolio of 10 mln m2 through the extension of existing parnerships.