CTP Serbia reposted this
Today we published our CTP Q3-2024 results. We continue to see strong tenant demand. We signed 1.5 million sqm leases in the first 9 months, 4% more than the same period last year and at higher rental levels. Demand is driven by existing tenants expanding with us, with CEE being the fastest growing region in Europe, but we are as well benefiting from new pockets of demand. Asian tenants producing in Europe for Europe are making up around 20% of our leasing activity this year, and now over 10% of our portfolio. This illustrates the accelerating nearshoring trend, which is one of secular demand driver were CTP disproportionately benefits from, thanks to its market leading position in the CEE and exposure to manufacturing tenants. Our Rental Income increased by 15.9% yoy to €488.4 million, with the annualized rental income for the standing portfolio coming to €702.0 million. The EPRA NTA per share, mainly driven by the positive revaluation of developments, increased by 10.1% in the first 9 months to €17.52. We delivered 545,000 sqm of GLA this year, 95% pre-let at delivery. Our standing portfolio came to 12.6 million sqm of GLA and we have currently another 1.9 million sqm under construction, adding €142 million of rental income when fully let. And this is just the beginning, with our 27.1 million sqm landbank, most of which is already paid for and on balance sheet, we have the next growth phase already locked in. This positions us well to also deliver in the coming years double digit NTA growth. Dial in today for the earnings call at 9am (GMT) / 10am (CET): https://lnkd.in/eQtDRaqx The press release and presentation are available on our website: https://lnkd.in/d6BvCqp6