CTP owns the CTPark Network, the biggest integrated system of top quality business parks in Central and Eastern Europe, with more than 4.5 million m2 of A-class facilities in over 97 strategic locations. The company plans to expand its portfolio of spaces for lease through expanding the cooperation with its existing clients, and at the moment we are the only international institutional investor-developer in Serbia in the field of industry. We have a clear intention to remain active and to keep developing in the Serbian market.
This is how Vlatko Djuricek
, the Director of CTP for Serbia
announces the plans of one of the biggest European investors in the field of industrial facilities and the biggest one in the CEE region.
The company has operated globally for 20 years now, and they highlight as their most representative projects the Industrial Park Brno in the Czech Republic and CTP Park Bucharest in Romania. They currently have 370 employees, of which five in Serbia.
Our interviewee sees the Serbian market as an important opportunity for the further development of their business and believes that it is comparable to the company’s experience in CEE so far. He notes that there is qualified workforce and an adequately developed infrastructure, as well as a great possibility of the realization of large industrial facilities.eKapija: In July you announced your plans to expand business in Serbia that involve buying real estate in Belgrade and Novi Sad. How far have you come in implementing those plans?
– In the first phase, CTP plans investments in Serbia worth EUR 75 million in the first 120,000 m2 of facilities in Belgrade and Novi Sad. The first project in Serbia, CTP Park Belgrade West, with its two independent facilities, is in the final stage of realization. This is a 12,000-m2 facility, where the client Phoenix Pharm is located and which can be extended by 5,500 m2. The second investment in the same region will be an investment in a 13,600-m2 facility, for which the opening deadline is the second quarter of 2019.
As for the other investment, CTP Park Novi Sad, we have finalized the purchase of land and we are starting the process of engineering design and obtaining the building permits. I expect us to get the building permit in late September or early October, following which we will start the construction. The facility in Novi Sad, which should open in the fourth quarter of 2019, will have more than 23,000 m2.eKapija: CTP develops and manages commercial real estate and specializes in building high-tech business parks for companies realizing strategic investments in Central Europe. Could you describe the construction phases of one “plug-and-play” project?
– The realization of one such project begins with an analysis, seeking and acquiring an adequate building location, followed by the preparation of the project documentation and the obtaining of all the necessary permits and the construction of the facility and handing it over to the end user. Once the client starts using the industrial park, CTP continues to manage the facility and execute the necessary adaptation, extension or reconstruction.eKapija: What does commercial real estate management entail? What other services can your clients expect beside the construction of industrial parks?
– We are aware that cooperation with clients is our focus and we are fully oriented to meeting their needs and demands. For example, in certain projects, we built hospitals and hotels at the request of our clients, and we also build artificial lakes, decorate facades... The aim of all this is for the employees at the companies-users of real estate to be as satisfied as possible.eKapija: Who are your biggest clients, that is, users of space in industrial parks?
– Globally, these are Bridgestone, Continental, Faurecia, Honeywell, Johnson Control, ABB, Zodiac Aerospace, DHL. This is only a small part of CTP’s references, as the list of all clients includes over 450 large multinational companies.
eKapija: What would you say your advantage is compared to your competition?
– Our company has a very diversified portfolio and a flexible expansion. We are continuously investing in the existing portfolio, and the satisfaction of our partners is confirmed by the fact that we are building 70% of new projects for the existing clients.eKapija: What is CTP's experience when it comes to operating on several markets? What are your plans in Serbia for the upcoming period?
– We have not noticed any considerable differences in the way of doing business. The key difference is the level of industrial development in each country and of international clients in certain states.
As for the plans for the Serbian market, we believe that we will repeat the Romanian scenario in Serbia, proportional to the size of the market, of course. Our long-term goal is to stay here and build a portfolio in the first two phases of 200,000 m2, with the intention of continuing to invest and employ.The entire contents of the Real Estate and Interior Design – Market Growth Leads to New Business Opportunities newsletter can be found HERE.