CTP is the largest developer and manager of modern industrial and logistics real estate in Romania and a leader at European level. How would you characterize the year 2021 in terms of business development at the local level?

Ana Dumitrache, Country Head, CTP Romania: For us, the watchword in 2021 was ”expansion” in every way. We have strengthened our position as a market leader and widened the gap between us and other competitors, but at the same time, we have supported the improvement of the quality of life in our parks and in their neighborhood, acting as goodwill agents in the communities we belong to, just to make this growth sustainable.

We have expanded our team, we are over 90 people today in CTP Romania and we are still recruiting. We have expanded our portfolio in new cities (Brasov, Craiova, Targu Mures and Oradea), and the new developments, land acquisitions and building acquisitions have turned Timisoara into the second strategic center on the CTP map, after Bucharest.

We have reached and even exceeded the target of 2 million sqm of industrial and logistics real estate, both through strategic acquisitions and through our own developments. We place great emphasis on our ability to serve the needs of our customers wherever they need, whether we talk about large markets such as Bucharest or Timisoara, or smaller but strategic markets such as Salonta or Turda.

Valentin Rosu, Construction Manager, CTP Romania: In 2021, we successfully delivered a total area of 232,000 sqm, a quarter of the total deliveries of the entire Group, Romania being the second market after the Czech Republic in terms of new projects delivered and the target for this year is even more ambitious. The special project in Oradea, with a cargo terminal directly connected to Oradea Airport, the implementation of the Clubhaus multifunctional project in CTPark Bucharest West or the bridge over A1 Motorway at km 23, probably the most daring public infrastructure project with private funds, proves that we have the expertise and resources needed not only for the development of industrial and logistics real estate, but also for the development of complex and very diverse projects.

Andrei Koszti, Regional Commercial Manager, CTP Romania: The year 2021 was a very dynamic year in terms of leasing activity. Thus, together with the business development team, we leased a total area of approximately 500,000 sqm, in some of the largest and most complex transactions on the market. Moreover, we succeeded in attracting new companies to the Romanian market, such as the online food retailer Rohlik (with the sezamo.ro brand), which rented an area of about 12,000 sqm in our park in Stefanesti, CTPark Bucharest North, and has already announced 1,000 new jobs for the first year.

What are the trends and what opportunities does the Romanian market – Group’s second largest – currently offer?

Ana Dumitrache: Romania is the second largest country in Central and Eastern Europe, after Poland, and Bucharest is the fifth largest city in Europe – these are figures that can make a difference in any business. We believe that Romania can establish itself as a regional distribution center for the entire Balkan region, because we also have a very good geographical position and we are a safe country, a member of the European Union and NATO.

We already have customers that deliver various products from our industrial park CTPark Bucharest West, from footwear to furniture, to markets such as Bulgaria, Greece, Turkey and even the Middle East. And more such projects are under discussion. From here, the manufacturers cover areas that are less controllable politically and geographically. The nearshoring trend in Romania is not new, but both we, as a developer and manager of industrial parks, and Romania, as an economy, should take more advantage of this action to move the distribution from warehouses in Central Europe to Romania.

Another issue that we regard as important is the quality of life in industrial parks. This has a direct impact on attracting and retaining the workforce and we strive, through ongoing investment, to support the tenants in our parks in this effort. Transport, easy access to quality services and existence of leisure areas have become relevant criteria in choosing a job. For example, in our industrial park in Bolintin Deal, CTPark Bucharest West, we offer the best conditions so as to facilitate the process of attracting and retaining employees for our customers, whose teams total over 2,500 people. We offer freshly-ground coffee on the house, as well as pizza on the house every Friday, we plant trees and invest in landscaping, we constantly organize events, and many such things for the community in the park.

Further on, we will replicate the model of CTPark Bucharest West – where we launched the first multifunctional center Clubhaus, which includes a restaurant-canteen with freshly prepared food, doctor’s office, barbeque area, outdoor sports center and bike path – in other CTP parks in the Bucharest-Ilfov area, as well as in Timisoara.

To what extent has the pandemic influenced the dynamics of negotiations with potential customers and what are tenants’ most important requests?

Ana Dumitrache: As a market leader, with a portfolio that most likely will reach 2.5 million sqm this year, we have the advantage of being able to respond promptly and efficiently to the increased demand for flexible areas, the most common request that we have received in the past year from current or potential customers. Thus, we offer flexible areas starting from 500 sqm, with variable heights, in several parks in CTP portfolio, both in Bucharest and in the country, in cities such as Timisoara, Arad, Oradea or Sibiu. We named these areas CTFlex, just to be easy to remember and identify by the companies that need flexible areas of small or medium size, or that need a phased increase of area, proportional to the growth of the business.

We develop over 70,000 sqm of CTFlex areas, which can accommodate up to 140 companies, which will benefit from both the high quality of life that our parks offer and the safety net of an international developer, which has major advantages, such as negotiation power for construction and utilities costs, seriousness as concerns the delivery time and budget, and an in-house Property Management team, including maintenance specialists and financial experts.

How was CTP Romania business in the first quarter of this year and what are company’s priorities in 2022?

Ana Dumitrache: The beginning of year was dynamic, on the one hand we have tenants existing in our portfolio who want to expand to new cities, and on the other hand companies that consider the option to enter the Romanian market. We continue to build, we have a consistent portfolio of land suitable for new developments and we intend to expand the existing parks, and also to start new projects, with a total pipeline of 400-500,000 sqm for this year, in many cities of the country.

Of course, the tense situation in the region brings a wave of uncertainty also for the Romanian business environment, however any crisis can also bring opportunities, and here I think about companies considering relocation to Eastern Europe, and Romania is one of the options.

In the meantime, our priorities remain the same: to provide the best areas and services to our industrial park customers. This means: strengthening of the Property Management team, a service that we have internalized just to offer added value to the communities in the parks, expansion with new products such as CTFlex to cover as wide a range of needs as possible, as well as enlargement of parks with new services for the people who work there.

You lead a company that has expanded and invested steadily in the recent years, which were marked by an unprecedented global crisis. What were the main challenges you experienced as a leader? What essential qualities are required for a manager to overcome the current period?

Ana Dumitrache: No doubt, the crisis of construction materials and the related increase in prices, the late delivery deadlines and the supply chain disruptions. More recently, the electricity prices, given that Romania is the third on the list of EU countries with the highest increases in electricity prices in January 2022 as compared to the same period of the past year. As concerns the building materials crisis, we have had and still have the great advantage of working with partners who are loyal to us, in addition to our position as a major player in all countries where CTP Group is present, which allows us to keep things at a tolerable level. At the moment, all our ongoing projects advance according to the set schedules.

Another challenge we have also felt is to identify, recruit and retain the best people in the market. Personally, I strongly believe in the strength of the team above that of an individual, in the synergies that are created between colleagues and in the fact that if we work well together and put passion into what we do, no target is unattainable. I admit that I am lucky to have people near me who are passionate about what they do, who always want to get out of their comfort zone, to push their limits and who help a colleague without hesitation whenever s/he needs. Quality of life is important both in the CTP park communities and in our team.

How is your daily agenda? At the end of the work hours, how do you spend your spare time, what are your hobbies and passions?

Ana Dumitrache: My working day usually starts at 6 AM, when I review my agenda, the ”to do” list for that day, I send emails only if necessary and if they are in the category of messages to be sent in 2 minutes and you don’t want to put them off. I believe a lot in prioritizing and planning. Then I take a coffee break and if I’m lucky, I have 30 minutes of sport, and in another 30 minutes I’m ready to go out the door. Between 9 and 19, my agenda is usually full of meetings and calls, whether internal or external, interviews, etc.

The end of my schedule is late, between 20:00 and 21:00 – after I put everything back and turn off the computer, my phone and tablet remain open. I like what I do and I’m so happy. It’s a proverb I like: “Choose a job you love, and you’ll never have to work a day in your life.”

In the evening I spend my spare time having dinner with my family, we talk, read, comment on the day’s events and we are very happy together. I like to read and I read a lot and miscellaneous, sometimes I have three books at a time. I like history. And I like philosophy. And I like fashion, but I have my own definition and perception of style and fashion. I also really like decorative and applied art, I often go to museums and try to keep up with everything that happens cool and hip in the city, I know cafes well (because I love coffee!).

Interview by Ioan Dornescu

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