CTP N.V., the leading owner, developer, and operator of industrial and logistics real estate in the European Union, is investigating potential expansion into the Vietnamese market. The company’s interest stems from increasing demand from Asian clients.
Over the past 18 months, Asian clients have accounted for roughly 20% of CTP‘s leasing activity. This surge in demand is attributed to the growing nearshoring trend, which sees manufacturers prioritizing production locations closer to their consumer markets.
Central and Eastern Europe (CEE) offers a cost-effective production base, enabling Asian companies to bypass escalating trade barriers and tariffs. This region serves a significant portion of global GDP.
Vietnam, similarly benefiting from the nearshoring trend, is becoming a prime manufacturing location for a “China plus one” strategy among global manufacturers. Responding to requests from its tenant base, CTP is assessing opportunities to develop full-service business parks in Vietnam.
Maarten Otte, Head of Investor Relations and Capital Markets at CTP, explained the company’s strategy. He highlighted the company’s interest in supporting tenant demand for high-quality business parks in new locations to achieve ambitious growth plans and portfolio diversification. Otte cited Vietnam‘s rapid economic growth, young workforce, political stability, and attractiveness to foreign direct investment (FDI) as key factors. He emphasized the potential to replicate CTP‘s successful business model in Vietnam while maintaining high return standards.
CTP currently manages a significant portfolio exceeding 13.5 million square meters of gross lettable area across ten European countries. The company is committed to sustainable practices, with all new buildings certified to high environmental standards.
The company’s expansion into Vietnam represents a strategic move to capitalize on emerging market opportunities while maintaining its focus on sustainable growth and high returns. The company’s successful expansion into other regions, including Poland and Western Europe, demonstrates its ability to adapt its business model to new markets successfully. Further announcements regarding the company’s Vietnam plans will be made in due course.
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