BUCHAREST (Romania), June 23 (SeeNews) – The European Bank for Reconstruction and Development announced on Wednesday that it is investing 42.5 million euros ($ 50.7 million) in the euro issue. â¬ 500 million green bonds from Czech property developer CTP to support CTP’s expansion in Romania, Serbia and three other European countries.
The proceeds of the bank’s investment will be used to finance the development and acquisition of sustainable industrial parks in Hungary, Poland, Romania, Serbia and the Slovak Republic, the EBRD said in a press release.
CTP is the largest full-service industrial and logistics real estate owner-developer in Central and Eastern Europe, with a portfolio of 100 industrial parks in key hubs, according to the bank.
âThe investment responds to challenges related to supply chains and logistics infrastructure in EBRD regions, supporting the continued development of the CTP logistics sector,â said Vlaho Kojakovic, EBRD director for real estate and tourism.
As part of the EBRD’s investment, the CTP is committed to reducing greenhouse gas emissions in its supply chain. In addition, and with the support of the EBRD, the company aims to improve skills standards and policies in the management, logistics and engineering of green industrial real estate.
In March, CTP announced its intention to complete the construction of new buildings with a total area of ââ300,000 mÂ² in Romania by the end of 2021, with planned investments for these projects amounting to 200 million euros.
CTP is a European commercial real estate developer and manager providing full services in the real estate industry. CTP owns the ctPark network in Central and Eastern Europe, with over 6 million mÂ² of Class A real estate in over 100 strategic locations in seven countries. Besides the Czech Republic, CTP is present in Slovakia, Hungary, Serbia, Romania, Poland and Bulgaria.
($ = 0.8489 euros)