Petar Kolognat, CTP: We start construction of CTPark Belgrade Borča, 20,000 m² Already Pre-Leased

CTP, Europe’s largest listed developer, owner and operator of industrial and logistics properties by gross lettable area, is commencing construction of CTPark Belgrade Borča, a major new logistics and business park set to introduce new formats of industrial and storage facilities to the Serbian market. With 20,000 m² already pre-leased, the project is attracting interest even before its construction started, demonstrating demand for modern, flexible business spaces close to Belgrade. During a live interview with eKapija at a recent real estate conference in Belgrade, Petar Kolognat, Director of Business Development at CTP Serbia, discussed the project’s development, its strategic location and the opportunities it will offer companies of all sizes.

- CTPark Belgrade Borča is an important addition to our portfolio in Serbia. The project will comprise 222,700 m² of Gross Lettable Area across 15 buildings, offering a combination of established industrial and logistics facilities and new formats that are not yet widely available on the Serbian market.

- Workforce availability was one of the main factors behind our decision. In recent years, as our business has grown, the availability of labour has increasingly become an important consideration for our clients.

We estimate that approximately 300,000 people live within a seven-to-ten-kilometre radius of the site. Many currently commute to other parts of Belgrade, and we believe the new park can create opportunities for them to work closer to home.

Infrastructure development was another important consideration. Borča is expected to benefit from a direct connection to the new Novi Sad–Zrenjanin–Belgrade highway, which will further improve accessibility and strengthen the area's potential as a logistics and business location.

- We are developing the project on a plot of approximately 40 hectares, where we plan to introduce several formats designed to meet different business requirements.

Alongside our established CTSpace and CTFit formats, we will offer new formats CTFlex and CTBox. These solutions are intended to meet the needs of companies that do not necessarily require a conventional large-scale warehouse but need a modern, professional space combining storage, sales, showroom or service activities.

The available spaces will range from approximately 600 m² to 60,000 m², with the possibility of subdividing units into smaller spaces of around 300 m². This will allow us to accommodate a much broader range of tenants, including SMEs that have previously struggled to find suitable facilities in modern industrial parks.

- We see opportunities across a wide range of sectors. Companies selling construction materials, PVC joinery, automotive parts, furniture and HoReCa equipment are examples of businesses that may need both a warehouse and a customer-facing sales or exhibition area.

CTBox and CTFlex are designed to provide that combination in a modern, professionally managed environment. Similar formats are already available in some of our other markets, including the Czech Republic and Romania, where they serve businesses with diverse operational needs.

We believe there is significant potential for these solutions in Serbia, particularly in and around Belgrade, where companies need convenient access to customers, suppliers and employees.

- Flexibility is one of the biggest advantages. Historically, around two-thirds of our new business has come from existing tenants. This reflects the fact that companies can start with a smaller unit and then expand into larger premises as their operations develop.

That is a key principle behind CTPark Belgrade Borča. A company might initially move into a CTBox or CTFlex unit and, as its business grows, relocate to a larger building within the same park. This allows it to remain in a familiar location while avoiding the disruption of moving to an entirely different area.

Our long-term ownership and property management model is another important benefit. We take responsibility for maintaining our buildings and remain the main point of contact for our tenants, allowing them to focus on their core business.

- Sustainability is central to CTP's strategy. As a green bond issuer, we place a strong emphasis on environmental performance and responsible development.

The buildings in Borča are planned to achieve BREEAM certification with high scores, and their roofs will be designed to accommodate solar panels. Energy-efficient buildings can help tenants reduce electricity and gas consumption while improving the long-term performance of their facilities.

For us, sustainability is not separate from the business case. It is an integral part of developing modern properties that meet the expectations of our clients and support their long-term competitiveness.

- We are encouraged by the response so far. We are in discussions with companies interested in moving existing operations closer to Belgrade and available workforce and businesses already active in the surrounding area that want to improve their facilities.

We are also seeing interest in the new building formats, which address requirements that have not been fully served by the traditional warehouse market.

- We have started construction of a new 34,000 m² KRAG04 building at CTPark Kragujevac within existing Free Trade Zone, and we have secured building permits for new development

phases at CTPark Niš and CTPark Novi Sad East.

This approach allows us to act fast and start construction when opportunities arise, which is

particularly important for clients in the logistics and production sectors, where project

timelines are often tight and operational deadlines are critical.

Our diverse portfolio of locations across Serbia enables us to offer tailored solutions to meet

the needs of every client, regardless of their business sector, operational requirements or

future growth plans.