CTP Launches Its First Logistics Park in Hungary at Pécs, Planning Over 66,000 m²
CTP, the largest listed developer of logistics and industrial real estate in Europe, is launching its first development project in southern Hungary, in Pécs on Tuesday. The park will include more than 66,000 m² of gross leasable area and starts with a first building of 14,200 m² already pre-leased.
CTP is developing a custom-built 14,200 m² gross leasable area building for logistics in the south of Pécs in the first phase. This initial building has already been pre-leased to an existing group client. Construction is scheduled to start in the second quarter of 2026, with completion expected by the end of the second quarter of 2027. Subsequent phases of the park will be developed based on market demand and client needs. The park benefits from a strategic location on the southern edge of Pécs, directly bordering an established industrial zone. The site enjoys good connectivity via the nearby M60 motorway, with direct access to the M6 connecting Budapest to the Croatian border.
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The development adheres to CTP's sustainability standards. The first building aims for an A+ energy certification and a BREEAM 'Excellent' rating, supported by energy-efficient technologies including a heat pump system that reduces environmental impact and operational costs. The park is designed to accommodate a wide range of occupants, including logistics providers, advanced manufacturing companies, and research and development operations. Pécs, a city of 150,000 residents, has a strong industrial base and access to a skilled workforce supported by the presence of the University of Pécs. The region has more than 22,000 students and attracts an increasing number of international companies in manufacturing, engineering, and technology sectors.
« The Group reiterates its Company-specific adjusted EPRA EPS guidance for 2026 of €1.01-€1.03. » ; « CTP expects double-digit Company-specific adjusted EPRA EPS growth in the years thereafter »
Risks mentioned
Expected broadly stable estimated rental values (ERVs) for remainder of 2026, with rental growth resuming only in 2027
Leverage ratio at 46.6% above medium-term target range of 40-45%, requiring earnings growth and disciplined capital allocation to return to target
Lower end of 2026 delivery guidance range (1.4-1.7 million sqm) reflecting timing of project completions
Opportunities identified
Record leasing activity of 1.943 million sqm (+23% YoY) driving strong rental growth
Expected to reach €1 billion of annualised rental income in 2027 through development completions and like-for-like rental growth
33.4 million sqm landbank providing significant embedded development potential with over €7 billion of illustrative development valuation uplift
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
