CTP's €1B Gambit: Reshaping Italy's Undersupplied Logistics Market

AMSTERDAM, NL – November 28, 2025

In the world of European real estate, few announcements carry the weight of CTP N.V.’s latest move. The continent's largest listed logistics developer has declared its entry into Italy, backed by a formidable €1 billion investment plan spread over the next five years. The opening salvo is the €241 million acquisition of development firm VLD S.r.l., a deal that instantly hands CTP a vast 8.7 million square meter landbank. But this is far more than a simple line item on an investor report; it’s a strategic, multi-faceted gambit that signals a potential turning point for Italy’s industrial backbone and a major new chapter in CTP’s own story of aggressive European expansion.

Beyond the headline numbers, the true significance lies in the why behind this billion-euro bet. CTP is not just buying land; it is buying into a compelling market inefficiency. The move is a calculated response to a critical undersupply of modern logistics infrastructure in Europe’s fourth-largest economy, and its impact is poised to ripple through local economies, supply chains, and the competitive landscape for years to come.

A Market Ripe for Transformation

For years, Italy has been a paradox in the European logistics map. Despite its strong industrial base, strategic Mediterranean location, and status as a global manufacturing hub, its logistics infrastructure has lagged significantly behind its peers. The data paints a stark picture: Italy currently has approximately 0.5 square meters of Grade A logistics space per capita. This figure is less than half the average of over 1 square meter per capita seen in most other major Western European markets like Germany, France, and the Netherlands.

This supply-demand chasm has created a market under intense pressure. Vacancy rates for modern, efficient warehouse space are near zero, and the demand, fueled by a booming e-commerce sector and a post-pandemic push for supply chain resilience through reshoring, is only intensifying. Businesses, from multinational corporations to the small and medium-sized enterprises (SMEs) that form the bedrock of the Italian economy, are struggling to find facilities that meet today's standards for efficiency, technology, and sustainability.

CTP’s leadership sees this gap not as a problem, but as a prime opportunity. “We see great potential in Italy where demand for modern and sustainable logistics space is growing, yet the market remains relatively undersupplied,” said Remon Vos, CEO of CTP. His confidence is bolstered by an attractive projected yield on cost of 8.5%-9.5% for Italian projects, a figure that signals strong returns in a market hungry for new development. By acquiring VLD, CTP has bypassed the slow and arduous process of land acquisition, securing a nationwide footprint overnight with land concentrated in the most critical economic corridors: 71% in the industrial north around Milan and Bologna, 25% in the central regions near Rome and Florence, and a strategic foothold in the south around Bari.

The CTP Blueprint: From CEE Powerhouse to Pan-European Dominance

CTP's Italian venture is not a tentative first step into Western Europe, but a decisive stride in a long-term strategic march across the continent. Since 2020, the company has more than doubled its portfolio, growing from 5.9 million to 13.8 million square meters of Gross Lettable Area (GLA). This Italian entry is a key pillar in its ambitious “30-30” plan: to reach a staggering 30 million square meters of GLA by 2030.

Originally building its empire in Central and Eastern Europe (CEE), CTP perfected a model of developing, owning, and managing entire business parks—the CTParks—that serve as ecosystems for tenants. This integrated developer-landlord approach has allowed it to build long-term relationships and gain significant market share, particularly with manufacturing clients who now comprise nearly 50% of its portfolio. The move into Italy is a natural extension of this expertise, targeting a market with a similar industrial profile to its CEE strongholds.

This expansion into a G8 economy represents a crucial diversification of CTP’s portfolio. Having successfully entered and scaled its operations in Germany and Poland, the company is proving its model is not just a CEE phenomenon but a robust, pan-European platform. By establishing a major presence in Italy, CTP is not only tapping into a new growth market but also creating strategic and operational synergies for its 1,500+ existing tenants, many of whom are looking to expand their own operations across the continent. It’s a power play that solidifies its standing against other major European logistics players and reinforces its claim as the continent’s dominant force in the sector.

Building a Greener, More Efficient Future

CTP's investment promises to deliver not just more space, but better space. The company has built its brand on a steadfast commitment to sustainability, certifying all its new buildings to BREEAM ‘Very Good’ or higher standards. This is not merely a box-ticking exercise; it is a core business principle that aligns perfectly with the evolving demands of the Italian market.

In Italy, as across Europe, tenants and investors are increasingly prioritizing ESG (Environmental, Social, and Governance) compliance. Recent Italian regulations offer incentives for green logistics initiatives, and market data shows that ESG-compliant, Grade A warehouses accounted for nearly 85% of take-up in late 2023. CTP’s established track record, including achieving BREEAM ‘Outstanding’ certifications and implementing energy-saving measures like solar power and heat pumps across its portfolio, positions it to meet this demand head-on.

For its Italian projects, this means developing facilities designed to minimize carbon footprints, reduce water consumption, and enhance biodiversity. This focus will provide Italian businesses with the sustainable, future-proofed infrastructure needed to compete globally while helping them meet their own corporate responsibility goals. This commitment to quality and sustainability is a key differentiator in a market where much of the existing stock is outdated and inefficient.

The On-the-Ground Impact: From Landbanks to Local Livelihoods

Beyond the corporate strategy and market analytics, the most profound impact of CTP’s €1 billion investment will be felt on the ground in communities across Italy. The development of the newly acquired landbank, now under the banner of CTP Italy, will be a significant driver of local economic activity. The company plans an aggressive development schedule, aiming to deliver 200,000 square meters of new space in 2026 and ramping up to 300,000 square meters annually from 2027.

This translates directly into job creation, first in construction and subsequently in logistics operations, warehousing, and facility management. For regions like Lombardy, Emilia-Romagna, and Lazio, the arrival of state-of-the-art CTParks will provide a vital boost. It offers a lifeline to local manufacturers and SMEs, giving them access to modern logistics facilities that can streamline their supply chains, reduce operational costs, and enable growth. For major Italian brands like Brembo and UFI, already CTP clients elsewhere, it offers the opportunity to consolidate and modernize their logistics within their home market.

Ultimately, CTP’s entry is about more than just building warehouses. It is about laying the physical groundwork for a more efficient, resilient, and competitive Italian economy. As the first bulldozers break ground, this billion-euro investment will serve as a powerful catalyst, addressing a long-standing infrastructure deficit and unlocking new potential for businesses large and small. The success of this venture will not only determine CTP's future in Western Europe but will also be a telling indicator of Italy's capacity for an industrial renaissance in the decade to come.