CTP enters Italian market with €1b investment plan

Logistics and industrial real estate developer CTP is expanding into the Italian market with an ambitious €1 billion investment plan over the next five years. 

Remon Vos

This strategic entry is spearheaded by the €241 mln acquisition of VLD, a development company holding a substantial landbank in prime Italian locations.
This move supports CTP's goal of reaching 30 mln m2 of gross lettable area by 2030, enhancing its portfolio and development pipeline to better serve its over 1,500 tenants. The acquisition includes an 8.7 mln m2 landbank across Northern and Central Italy, with immediate development potential for 1.7 mln m2 of owned land, 2.7 mln m2 under contract (subject to zoning), and 4.3 mln m2 under option.
The landbank, which has the potential to deliver around 3.5 mln m2 of GLA, also includes two existing assets totalling 30,000 m2 GLA. Geographically, 71% of the development land is concentrated in Northern Italy (Milan, Bologna, Turin regions), 25% in Central Italy (Rome, Florence), and 4% in Southern Italy (Bari).
CTP already has multiple projects under construction, with 200,000 m2 scheduled for completion in 2026 for clients like ALS Luxury and CEVA. VLD will be rebranded as CTP Italy, and a local team, led by Agostino Emanuele, is being assembled to accelerate market integration.
Remon Vos, CEO at CTP, said: “We continue to expand into Western Europe in line with our business plan and plan to invest one billion Euros into Italian projects over the next five years. We see great potential in Italy, where demand for modern and sustainable logistics space is growing, yet the market remains relatively undersupplied. The Italian market offers an attractive return profile with a yield on cost target of around 8.5%-9.5%. For 2026, we already plan to deliver around 200,000 m2 of GLA, ramping up to 250,000 m2 to 300,000 m2 annually from 2027. This is one of the key steps towards achieving our ambition of 30 mln m2 of GLA by 2030.”
CTP anticipates significant demand in Italy for its modern, full-service business parks from a diverse occupier base, including major manufacturers, Italian SMEs, FMCG and 3PL operators, and multinational businesses. The Italian logistics market is currently underserved with Grade A space (0.5 sqm per capita versus over 1 sqm in most Western European markets), indicating strong long-term growth potential. This is further supported by a skilled workforce, strategic location, low vacancy rates, rising prime rents, and attractive prime yields.
Italy, CTP's eleventh market, represents the next phase in its strategy to build a broader European platform. As Europe's fourth-largest economy with proximity to CTP's existing markets, Italy offers strong strategic and operational synergies for both CTP and its occupiers seeking to expand across the continent.