CTP explores potential market entry in Vietnam

CTP N.V., has confirmed it is examining opportunities in Vietnam following recent market speculation.

The company, which operates in 10 European countries, manages a portfolio of 13.5 million sqm of space, with a further 2 million sqm under construction and a landbank of more than 26 million sqm. CTP’s growth strategy is largely organic, with 85% of new developments built in existing parks and two-thirds of leasing activity linked to current tenants.

Around 20% of the company’s leasing over the past 18 months has been with Asian clients, reflecting rising demand from manufacturers adapting to nearshoring trends. Many of these companies are seeking production bases in Europe to avoid trade barriers and tariffs, while maintaining access to the EU’s single market.

According to the company, Vietnam is benefiting from similar dynamics, particularly through the “China plus one” strategy adopted by multinational manufacturers. In response to requests from tenants, CTP has begun assessing potential for developing business parks in Vietnam, drawing on its experience in Central and Eastern Europe.

Maarten Otte, Head of Investor Relations and Capital Markets at CTP, noted that Vietnam’s economic performance, skilled workforce, and foreign investment record make it a candidate for the company’s expansion model. He stressed that any potential move would be evaluated against CTP’s established return requirements.