Where will new industrial and logistics parks be developed in Hungary?

CTP had its most successful year since entering the market in 2024, with reported leasing activity reaching 320,000 square metres. This represents 38% of the total domestic market, while in Budapest, their volume accounted for 42% of the market.

The company increased its market share to 22%, demonstrating CTP's speed, flexibility and active presence in the sector. The dynamics of tenant demand showed an interesting pattern: while the number of logistics-related demands decreased, the size of requested areas increased.

Most incoming inquiries came from industrial manufacturing companies, and this trend is expected to continue in 2025.

The increase in demand for industrial buildings requires more complex internal resource management, longer planning and contracting processes, and naturally longer construction periods. In addition,

developers can expect higher technical content and higher construction costs. At the same time, the rise in industrial demand is expected to be followed by a rise in logistics demand, as logistics service providers serving the activities of manufacturing companies are somewhat delayed in entering the market.

The market trends show some deadline adjustments and delays in certain investments. Several automotive manufacturers have shown some degree of slowdown, though they have begun to catch up. These delays also affect the demand structure in their market.

In the current market environment, there is a kind of strategic wait-and-see: while processes have not come to a standstill, players are reacting cautiously to market dynamics. This is partly due to preparations for technological change.

EV technology is evolving rapidly. For example, the proliferation of solid-state batteries will rewrite the rules of electric driving. Radical reductions in charging time and the development of a charging network will accelerate the previously predicted 15-year period in which internal combustion engine cars will be replaced.

The automotive sector accounts for approximately 30% of CTP's total tenant portfolio, demonstrating the sector's strategic importance in their parks. However, tenants are not experiencing payment difficulties, and there is no demand for returning leased areas after contract expiration.

The tenant portfolio structure is highly diversified, including manufacturing companies, logistics service providers, and players from other special industries. While logistics and industrial properties dominate, office spaces are also available in their parks.

The fact that Lenovo's first European manufacturing plant is located here is an excellent example of the presence of the high-tech sector.

"Last year we signed more than twenty leases with logistics companies, demonstrating continued activity in the sector," said Gondi.

In February, CTP announced an agreement with Chinese construction and agricultural machinery manufacturer Zoomlion, involving a 55,000 square metre lease transaction. This was part of a regional tender, where locations from Poland onwards were examined, and Hungary was chosen after thorough market research.

27% of CTP's portfolio is located outside Budapest. They are familiar with regional submarkets and are preparing developments in all significant locations. Regional markets are expected to expand, though the exact timing remains uncertain.

Logistics companies are not yet setting up major regional distribution centres, but are beginning to do so. However, these developments anticipate the greater demand that will come later,

said Gondi.

Many logistics companies are solving regional demands by building on Budapest's central role, a trend likely to continue in the next year, he added.

CTP has installed 17 MW of solar panels on their 1.25 million square metres of managed area in Hungary, which will be expanded by an additional 5 MW this year.

Their goal is to supply the entire portfolio with renewable energy.

The developments realised since 2021 account for approximately half of the current stock, meaning about 600,000 square metres have been built considering ESG principles. The company primarily uses air heat pump technology in industrial property development since 2021, which, although initially more expensive, results in significant long-term energy savings.

Cover photo: András Hajdú D.

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