CTP recorded gross rental income of EUR 664.1 million in 2024. This represents a year-on-year increase of 16.1%. The Group recorded a like-for-like rental growth of 4.0% year-on-year. As of 31 December 2024, annual rental income reached EUR 742.6 million and occupancy was 93%.
In 2024, CTP delivered 1,286,000 m² of industrial buildings to the market with a Yield on Cost (YoC) of 10.1 and an occupancy rate of 92% at completion, increasing CTP’s portfolio to 13.3 million m² of Gross Leasable Area (GLA). As of 31 December 2024, the Group had projects under construction with a total area of 1.8 million m² with a potential rental income of EUR 142 million (if fully leased) and an expected YoC of 10.3%. CTP’s largest development in Slovakia in the last fiscal year was the 37,000 m² hall at CTPark Žilina Airport.
CTP’s land bank has grown to 26.4 million m², of which 21.7 million m² are owned and included in the balance sheet. The land bank provides further potential for future growth, mainly in the vicinity of existing industrial parks. Combined with its industry-leading YoC position, CTP expects to continue double-digit Net Tangible Asset (NTA) growth in the coming years. The Group’s client retention rate remains at 87% (2023: 90%), demonstrating CTP’s ability to leverage long-term client relationships.
“Last year, we leased a record 2.1 million m², up 7% year-on-year. This illustrates the continued strong demand and growth potential in Central and Eastern Europe (CEE). We were able to sign more preliminary agreements than last year, creating a strong pipeline of potential leases for 2025. This level of leases allows us to continue to develop more than 10% of GLA per year and continue to increase our market share in CEE,” commented Remon Vos, CEO of CTP Group.
