CTP reports 15% rental income growth on nine months

Business Forum

6 November, 2025 at 11:15 AM

Industrial developer CTP reported net rental income growth of 15.4% year-on-year to €549 million in the first nine months of 2025. The company achieved like-for-like rental growth of 4.5%, driven by indexation and lease renewals.

The company delivered 553,000 sqm of new space at a yield on cost of 10.3%, which was 100% leased at completion. This brought CTP's total portfolio to 13.8 million sqm of gross lettable area. Gross asset value increased by 10.6% to €17.7 billion, while EPRA NTA per share rose 14.0% year-on-year to €19.98.

"CTP continues to demonstrate the strength of its platform and strategy with 1.57 million sqm of new leases signed in the first nine months of 2025, 6% more than in the same period last year," said CEO Remon Vos. He noted that with annualised rental income of €778 million and 2 million sqm under construction, the company is on track to reach €1 billion in annualised rental income by 2027.

The company maintained occupancy at 93% with a rent collection rate of 99.8%. CTP signed leases for 1.57 million sqm in the nine-month period, with 73% of new leases signed with existing tenants. The company's landbank totals 25.7 million sqm, providing development potential for future growth.

CTP confirmed its 2025 guidance of €0.86-€0.88 for company-specific adjusted EPRA earnings per share, representing 8-10% growth compared to 2024. The company expects to deliver between 1.3-1.6 million sqm this year and targets 30 million sqm of gross lettable area by 2030.

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