CTP explores market options in Vietnam

AMSTERDAM--(BUSINESS WIRE)--Regulatory News:

CTP N.V., (“CTP” or the “Company”) the EU’s largest listed owner, developer, and operator of industrial and logistics real estate by gross lettable area (“GLA”) refers to recent market rumours in relation to a potential market entry in Vietnam.

CTP is the market-leader in the business smart region of CEE, and active across 10 countries in Europe. The Group has a portfolio of 13.5 million sqm, 2.0 million sqm under construction and a landbank of over 26.1 million sqm, allowing the group the double its portfolio in its current markets. Most of the growth is in line with CTP’s organic business growth model, with 85% of developments in existing parks and two-thirds of all leasing with existing tenants.

A significant proportion of CTP's new clients are coming from Asia. Asian clients represented around 20% of the leasing in the last 18 months. This increase in demand from Asian tenants has been driven by a strengthening of the nearshoring trend, given that the CEE region is the best cost production location in Europe. This allows Asian tenants to address increasing trade barriers and tariffs by producing in Europe for consumers in Europe, which comprises 25% of the world’s GDP and the largest single market in the world.

Vietnam benefits from the same nearshoring trend, with global manufacturers in the current deglobalization phase often choosing to have a 'China plus one' strategy in Asia, with Vietnam the most preferred location for production outside of China. Following this trend and multiple requests from our tenant base, CTP has started to explore potential opportunities across Vietnam to support the development of full-service business parks, building on the Group’s in-house expertise and skillset, while leveraging CTP’s extensive client base.

Maarten Otte, Head of Investor Relations and Capital Markets at CTP, commented:

“We do look beyond Europe for opportunities to support our tenant demand for modern, high-quality business parks in new locations - to further contribute to CTP's ambitious growth plans and diversify the portfolio. In recent years, CTP has expanded successfully into new markets like Poland, as well as in Western European markets like Germany. Vietnam is one of the fastest growing countries in the world, with a GDP CAGR of 8.2% in the last 10 years and is also projected to grow significantly over the next 10 years. With a young population, skilled workforce, political stability, and a proven track record in attracting foreign FDI, Vietnam is an attractive location for manufacturing, a clear analogue to the CEE countries where CTP has been operating for the last decade. Based on the demand from our existing tenants, there are potential opportunities to implement our unique business model in the Vietnam market, while maintaining our strict industry leading return requirements.”

About CTP

CTP is Europe’s largest listed owner, developer, and manager of logistics and industrial real estate by gross lettable area, owning 13.5 million sqm of GLA across 10 countries as at 30 June 2025. CTP certifies all new buildings to BREEAM Very good or better and earned a negligible-risk ESG rating by Sustainalytics, underlining its commitment to being a sustainable business. For more information, visit CTP’s corporate website: www.ctp.eu

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