Ctp: record leasing activity in the first half 2026 with revenue of 858 million euros

Ctp, Europe's largest owner, developer and manager of logistics and industrial real estate by gross lettable area, has announced its first-half financial results 2026.

Key figures

Having recently entered the Italian market through the acquisition of Vld, the Group as at 30 June 2026 recorded gross rental income of 413,3 million euros (+12,6% year on year), with like-for-like rental growth of 4,7%, driven mainly by indexation and rent reviews upon renegotiation and lease expiry. The rental income annualised rose to 858 million euros.

Together with 152 million euros of potential rental income from 2 million sq m of GLA (gross lettable area) under construction, Ctp remains on track to achieve 1 billion euros of annualised rental income in 2027, generating growing cash flow to finance further profitable development. The occupancy rate remained stable at 93%, with a Wualt (weighted average unexpired lease term) of 6,1 years, demonstrating the resilience and visibility of Ctp's cash flows.

Strong occupier demand, supported by long-term structural trends such as the professionalisation of supply chains, production in Europe for Europe and growing domestic consumption in Central and Eastern Europe, has translated into record leasing activity. Ctp signed 1,6 million sq m of leases in the first half 2026, 55% more than in the same period of the previous year, including a new quarterly record of 813.000 sq m in the second quarter.

Average rents on signed leases increased by1,7% year on year, excluding country mix. Approximately 65% of new leases were signed with existing customers, demonstrating the strength of Ctp's long-term relationships with its customers and its ability to grow together with its customer base.

Guidance 2026 confirmed

Ctp also confirms its guidance to deliver between 1,4 and 1,7 million sq m in 2026. Its industry-leading land bank, totalling 33,7 million sq m, offers significant embedded future growth potential, with 55% located close to existing parks and 39% in new parks, each with the potential to exceed 100.000 sq m of GLA. Combined with Ctp's industry-leading development yields, in-house construction capabilities and deep customer relationships, this land bank provides the platform for sustained long-term growth in earnings, cash flows and NTA.

The comment

Remon Vos, Ctp's CEO, commented: "Occupier demand in the markets where we operate remains strong. Following a record first quarter, we reached a new leasing milestone in the second quarter, taking the first-half total to 2026 almost 1,6 million sq m, 55% more than last year. This demand is broad-based across sectors and markets and reflects the structural drivers underpinning our business: nearshoring, with production in Europe for Europe, rising disposable incomes and the professionalisation of supply chains. We are seeing new sectors emerge, such as life sciences, defence, semiconductors, robotics and battery and electric vehicle supply chains.

Our integrated owner-developer model enables us to respond directly to this demand. Approximately 65% of new leases were signed with existing customers, who continue to grow with us across the CtPark Network. We have 2 million sq m under construction, most of it already pre-let, providing clear visibility on future cash flow growth.

We are on track to reach 1 billion euros of annualised rental income by 2027. The growing cash flow generated by our operating portfolio finances our highly profitable development pipeline, while our land bank of 33,7 million sq m gives us the capacity to more than double the portfolio over time. This combination supports continued growth and attractive long-term returns for our shareholders".

This article was translated from the original Italian version with the assistance of artificial intelligence. In case of discrepancies, please refer to the original Italian version.