CTP N.V.

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CTP N.V.

ISIN	🆔
Industry	Industrial real estate
Founded 📆	1998
Founder 👔
Area served 🗺️
Key people	Remon Vos (CEO), Richard Wilkinson (CFO)
Members
Number of employees	634 (2023)
🌐 Website	https://www.ctp.eu/
📇 Address
📞 telephone

CTP is a commercial real estate developer and manager specializing in building, delivering and managing business parks (CTParks) for both international and domestic companies. The company is based in the Czech Republic and operates mainly in Central and Eastern Europe. CTP owns the CTPark network, a large system of business parks with more than 10.5 million square meters of real estate in more than 95 locations. The business parks are used for warehousing, production, distribution centres, R&D and office space.

The CTP Group provides property development and asset management via two privately held business entities: CTP Invest, which buys land and builds new industrial properties, (Czech Republic) and CTP Property B.V. which deals with the long-term management of these properties (Netherlands).

History

CTP was founded in 1998 in Humpolec, Czech Republic by Remon Vos, Eddy Maas, and Johan Brakema. However, Brakema left the company after a few years and Maas passed away in 2016. As of July 2019, Remon Vos. has taken complete control of the CTP Group, where he serves as CEO. Vos is a Dutch entrepreneur who moved to the Czech Republic in the 1990s. In 2018, Richard Wilkinson was appointed as the Group's CFO.

The company's first construction was its headquarters in Humpolec, with an area of 5,000 square meters. Over the years, CTP expanded its portfolio and by 2007, the company owned industrial buildings with a leasable area of 1 million square meters. As of fall 2021, the gross leasable area of CTP's industrial and office space exceeded 7.1 million square meters, making it the largest owner and developer of industrial and logistics property in Central Europe.

CTP began its activities in the Czech Republic and has since expanded its operations to other Central and Eastern European countries, including Slovakia, Hungary, Slovenia, Romania, Poland, and Serbia. As of 2021, the CTP has expanded its operations to several new locations, including The Netherlands and Germany. The company's sustainable and environmentally friendly building practices have earned it certifications, such as the BREEAM Outstanding certification for the Spielberk Office Centre in Brno.

Company values

Sustainability and environmental protection

CTP aims to be operationally carbon-neutral by the end of 2023, and the company has made significant progress towards this goal. As of the beginning of 2021, CTP is the most sustainable developer in the CEE region and has achieved BREEAM certification for 90% of its industrial property portfolio. In fact, CTP was the first company outside the UK to receive BREEAM Excellent certification for its office portfolio in 2012. Additionally, all CTP buildings in the Czech Republic and Romania have achieved ISO 14001 (Environmental Management) and 50001 (Energy Management) certification. To maintain these certifications, the buildings are inspected annually and must be renewed every three years. In total, CTP has invested more than €1.75 million in achieving these certifications.

Waste free

CTP has taken steps towards implementing sustainable practices across its portfolio by selecting the Spielberk Office Center in Brno as a pilot project. The company's goal is to achieve zero waste and apply circular economy principles to the office center. This is part of CTP's wider ambition to roll out sustainable practices across its entire office portfolio. By taking a targeted approach to implementing sustainable practices, CTP can use the learnings from the pilot project to inform future developments

Solar energy

CTP has pledged that all of its buildings will be ready for the installation of photovoltaic panels by 2020. This move is expected to greatly increase the company's reliance on renewable energy sources. Additionally, CTP has entered into a partnership with a company that provides it with 100% renewable energy. This allows the company to minimize its carbon footprint and contribute towards reducing the effects of climate change.

Forests

As part of its environmental protection commitment, CTP has pledged to invest in forest reserves across Central and Eastern Europe at a 1:1 ratio to its established portfolio. In October 2019, CTP took the first step by purchasing its initial forest reserve near the industrial zone in Mladá Boleslav, Czech Republic. The forest was in poor condition due to bark beetle infestation, but CTP revitalized it by planting over 108,000 trees of various species native to the region, restoring the forest's biodiversity to its original state. In February 2021, CTP acquired 460 hectares of forest near Zlín, and in November of the same year, it planted an additional 50,000 trees near the town of Otrokovice.

Corporate social responsibility

CTP is actively engaged in supporting community organizations that focus on children, adolescents, and education. In the Czech Republic, CTP has been supporting the Tereza Maxová Foundation since 2018 and collaborates with them on the Domeq Academy project. This initiative offers young people from children's homes the opportunity to work part-time and live independently in the CTP Domeq I coliving project in Brno during the summer.

Moreover, CTP is the general partner of YourChance's Start Right project, which aims to promote financial literacy and entrepreneurship among primary and secondary school students in the Czech Republic. CTP also helps integrate young adults leaving orphanages or foster care and supports students in technical fields. In addition, the company supports the non-profit organization Czechitas, which focuses on educating young people in IT.

In Slovakia, CTP is involved with the non-governmental organization "Úsmev ako dar." Furthermore, in 2021, CTP became the first sponsor of the United Nations High Commissioner for Refugees (UNHCR) "Aiming Higher" campaign on higher education. The campaign aims to increase access to higher education among young refugees, and CTP provides a four-year scholarship to 70 young refugees.

The company also regularly engages in sports and other events, such as the triathlon race DoksyRace, which it supports as the main partner.

Projects

Artwall project

In 2017, CTP launched the Artwall project, which aimed to bring art to the walls of its industrial halls. The competition was open to artists from all over Europe, and the winning designs were announced at the Mánes Gallery in Prague. The selected buildings for the project were located at CTPark Humpolec and CTPark Prague Airport.

Belgian artist Dzia and Czech artist Michal Škapa, known as TRON, were announced as the winners of the competition. Dzia's design was painted at CTPark Humpolec in collaboration with a team of nine other graffiti and street artists from the Czech Republic and Slovakia, using over 3,200 spray cans in total. Meanwhile, Michal Škapa's winning design was painted on the side wall of CTPark Prague Airport in Kneževs in July 2020. At over 5,000 square meters, it is the largest mural art in the Czech Republic and one of the largest in the world.

During 2020, Michal Škapa also painted artwork at other CTP developments, including a wall on the chimney house building at the brownfield office development Vlněna in Brno, as well as construction site cabins and interior decorations in the same development.

Domeq

In November 2017, CTP introduced Domeq, a modern co-living facility for students and young professionals in Brno's Ponávka business park. The facility provides 159 rooms and suites for 309 residents and combines elements of hotel and residential living. Domeq was fully occupied within a year of its launch. It is part of the brownfield redevelopment project, Ponávka, which also includes offices, light industrial buildings, and refurbished historical buildings. CTP plans to build two additional short- to medium-term residential facilities, Domeq II and III, and construction began in late 2019.

Vlněna project

In autumn 2018, CTP finished the first phase of the redevelopment of the Vlněna site in Brno by opening the first of many office buildings built on the former textile factory site. The occupancy rate was 90% at launch, and the phase one of the office complex was completed in 2020, providing over 70,000 sqm of lettable area. The Vlněna office complex tenants include large IT companies such as Avast, Moravia IT, Oracle, and SRTV. All buildings on the site are certified BREEAM Excellent. The total investment for the project is estimated at EUR 160 million (CZK 4.1 billion).

CTParks in Central and Eastern Europe

The CTPark Network is a vast integrated network of industrial and logistics centres spanning Central and Eastern Europe. With a total of more than 100 sites spread across several countries including the Czech Republic, Slovakia, Hungary, Serbia, Romania, and Poland, it is the largest network of its kind in the region.

CTParks in Hungary

In 2015, CTP entered the Hungarian market and acquired the Rozália Park logistics project located in western Budapest in 2017. As of 2020, the company's portfolio in Hungary includes a total of nine parks with a leasable area of 498.33 thousand square meters.

CTParks in Romania

In 2015, CTP expanded its presence in Romania with the acquisition of Cefin Arad, which offered an area of 44,456 m2. The same year, the company also acquired HEE Mercury with an area of 31,146 m2, followed by Deva Logistic Center S.A. with an area of 24,980 m2 and CTPark Timisoara (2 hectares) in July 2015. In 2017, CTP continued to expand in Romania by increasing the total area of CTPark Bucharest West to 70 hectares and investing EUR 13 million in the development of CTPark Timisoara II. Moreover, the company acquired Chitila Logistics Park and Phoenix Logistics Centre, which contributed to its expansion in the Romanian market. In 2020, CTP had a total of 15 CTParks with a leasable area of 1.5 million sqm in Romania

CTParks in Poland

In 2017, the CTParks network expanded to Poland, with plans to offer almost 71,000 square meters of buildable area in the future. The company built a new logistics park in Opole and announced its intention to build another in Iłów at the beginning of 2018. As of 2020, CTP owns three parks in Poland with a total area of 42.35 thousand square meters.

CTParks in Slovakia

In 2015, CTP expanded to Slovakia with the acquisition of DNV Logistics Park, which was subsequently included in the CTPark network as CTPark Bratislava. Other CTParks in Slovakia can be found in Žilina, Voděrady, Nitra, Trnava, and Košice. As of 2020, CTP manages a total of 10 parks in Slovakia, with a combined area of 421,400 square meters.

CTParks in Serbia

CTP announced its planned expansion into Serbia in 2018 with a total investment of €75 million. This included the purchase of properties in Belgrade and construction in Novi Sad, as well as the construction of 120,000 rentable spaces. As of 2020, CTP owns four parks in the country with a total area of 58.77 thousand square meters.

CTParks in Ukraine

CTP purchased a 23-hectare property in Lviv in 2015 with intentions of constructing a CTPark.

Controversy

Tax evasion

After conducting an audit in 2011, it was discovered by the Tax Office in Humpolec that CTP was transferring profits from its Czech branch to a tax haven in Luxembourg. Following several years of legal proceedings, the Supreme Administrative Court ruled in April 2016 that CTP had engaged in aggressive tax planning and abuse of law. As a result, CTP was obligated to pay several tens of millions of crowns to the tax office, though the precise amount remains undisclosed.

Unauthorized land modifications in Brno

Before finalizing the contract for Amazon's logistics center in Brno, negotiations with the city council in 2014 revealed that CTP had already initiated ground modifications to city-owned land. The topsoil had been removed, and debris was cleared. Eventually, no agreement was reached with the city, and some councillors called on the Czech Environmental Inspectorate to investigate the matter.

Disputed building in Hradec Králové

In 2014, CTP initiated the construction of warehouses on land in Svinary, Hradec Králové. However, in March 2015, the Hradec Králové City Hall intervened and halted the construction because CTP lacked a valid building permit. The municipality also revoked the consent for the extension of the city road needed for the acquisition of an additional building permit. In April 2019, CTP reached a settlement with the city and donated CZK 15 million to Hradec Králové as compensation for the construction of a parking lot at the University Hospital. Nonetheless, during the construction suspension of several years, some permits lapsed. CTP eventually acquired new permits, and in October 2021, the construction of two industrial halls on the outskirts of Hradec Králové resumed, with completion slated for the first half of 2022.

References

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