Real estate developer CTP Romania said on Wednesday it plans to build a third industrial park in Romania’s western county of Arad.

Works on the 100,000 sq m industrial park will begin in the last quarter of this year, with the first spaces to be delivered to customers in 2023, CTP Romania said in a press release, without disclosing the amount it plans to invest.
CTPark Arad West is located in the Arad western industrial area, less than 3 km from the city center and a few minutes from the A1 highway and the future Pan-European transport corridor Bucharest-Timisoara-Arad-Nadlac.
Its location in the industrial area of Arad will contribute to the development of businesses through the synergies it can develop together with other companies in the area that offer related services, CTP Romania said.
CTP Romania entered Arad in 2015 and now operates CTPark Arad and CTPark Arad North, with a total area of 60,000 sq m.
Currently, the company is developing logistics projects in several cities in Romania, including Arad, Oradea, Timisoara and Bucharest, with a total area of approximately 290,000 sq m.
CTP is an European commercial real estate developer and manager providing complete services in the real estate sector, owning over 9.5 million sq m of space across ten countries.