CTP sees 11% growth in leasing during H1 2025

Business Forum
Industrial developer CTP said its gross rental income for H1 2025 reached €367.2 million, marking a 14.4% year-on-year increase, while signing 1 million sqm of new leases, an 11% increase compared to H1 2024.

Like-for-like rental growth was 4.9%, primarily due to indexation and the renegotiation of expiring leases. The average monthly rent on new leases saw a 5% year-on-year increase, while its annualised rental income increased to €757 million.

The company's standing portfolio now totals 13.5 million sqm, with an occupancy rate of 93% and a rent collection rate of 99.7%.

CTP holds a dominant market position, with an average market share of 28.2% in the Czech Republic, Romania, Hungary, and Slovakia as of mid-2025, where it is the largest owner and developer of industrial and logistics real estate. The company is also a market leader in Serbia and Bulgaria.

The company's extensive and diversified international tenant base includes over 1,500 clients, many of which are blue-chip companies with strong credit ratings. CTP's tenants operate across a wide range of industries, such as manufacturing, high-tech/IT, automotive, e-commerce, retail, wholesale, and third-party logistics providers (3PLs).

Remon Vos, CEO of CTP, said: “We are benefiting particularly from the nearshoring trend, shown by our growth with Asian manufacturing tenants, who made up around 20% of our overall leasing activity in the last 18 months, compared to an over 10% share of our overall portfolio.” 

During H1, CTP delivered 224,000 sqm of new developments, all of which were 100% let upon completion and achieved a Yield on Cost (YoC) of 10.3%. 

The company's development pipeline continues to be a key driver of future growth, with 2 million sqm currently under construction, also at an expected YoC of 10.3%. This pipeline has a potential rental income of €160 million once fully leased.

The group's landbank stands at 26.1 million sqm, with 22.2 million sqm owned and on-balance sheet. This extensive landbank positions CTP to meet its goal of reaching 20 million sqm of gross lettable area by the end of the decade.

The company's gross asset value (GAV) rose by 7.2% to €17.1 billion, a 15.9% year-on-year increase. In addition, the group secured €1.7 billion to fund its organic growth.

CTP is expanding its photovoltaic systems, aiming for a 15% Yield on Cost (YoC) on investments that average ~€750,000 per MWp. The company has an installed PV capacity of 138 MWp, with 108 MWp fully operational. In H1 2025, revenues from renewable energy increased by 136% year-on-year to €8 million.

The company also announced an interim dividend of €0.31 per ordinary share, a 6.9% increase over the interim dividend for 2024. 

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