CTPark Bucharest - 13k



Project number:


Business sector:

Property and tourism

Notice type:


Environmental category:


Approval date:

17 Jan 2018



PSD disclosed:

10 Nov 2017

Translated version of this PSD: Romanian

Project Description

A senior secured loan of up to EUR 43.8m to borrowers CTPark Bucharest SRL and CTPark Gamma SRL to support their expansion in the logistic park located on the outskirts of Bucharest, at the 13th kilometre of the Bucharest- Pitesti highway.

Project Objectives

The loan, alongside other commercial bank financing, will be used to refinance existing logistics assets and for the development of new ones at the 13th kilometre of the Bucharest- Pitesti highway.

Transition Impact

The main transition impact for this project is expected to be "green" and derives from the client's commitment to achieve sustainable building certifications for the new developments (BREEAM Very Good or Good Certification) and also possibly for certain existing assets (BREEAM In-Use certification). Building certification of logistics assets is not very common in Romania and the project is expected to promote best practices from an energy efficiency perspective and demonstrate the benefits of certification for this asset class.

Client Information


CTPark Bucharest SRL and CTPark Gamma SRL are part of CTP Group and own and operate two logistics parks of around 222,500 m2 gross leasable area (GLA). CTP Group owns the largest portfolio of premium business parks in Central Europe with over 3 million m2 GLA of A-Class properties in over 60 strategic locations.

EBRD Finance Summary

EUR 43,795,000.00

EBRD financing of up to EUR 43,795,000 includes senior loan of up to EUR 38.9 million and a VAT facility of up to 4.9 million.

Total Project Cost

EUR 135,053,000.00

Total project cost is EUR 136.35m and includes the value of existing buildings within CTP Bucharest and CTP Gamma and the development costs of the new warehouse.

Environmental and Social Summary

Categorised B (2014) Environmental and social impacts associated with the three warehouses in the existing logistics park can be readily identified and addressed by adequate mitigation measures. Environmental and Social Due Diligence (ESDD) undertaken for the preceding project by the EBRD's Environment and Sustainability Department included a site visit in 2016 as well as a review of the additional information for this project in 2017. The ESDD confirmed  that both the preceding and new projects have been developed in accordance with national law and good international practice. The Environmental and Social Action Plan (ESAP) developed for the preceding project which addressed mainly occupational health and safety (OHS) issues during the remaining construction period and operation stage, covers the new project as well.

ESDD confirmed the sponsor has the largest portfolio of premium business park in Central Europe and is certified with ISO14001 Environmental Management and ISO 50001 Energy Management systems at the Group level.  The sponsor both at the group level and at the project level confirmed no legal violations in relation to environment, labour and health and safety for the past two years. The geotechnical study for the land plot showed that the ground conditions are suitable for the project. Public disclosure of the project information has been carried out by the municipality. The project has been developed with relevant environmental permits for the construction, water supply, waste water and waste. The project is equipped with automated fire detection and sprinkler systems. The ESDD, however, identified a scope for improvement for construction OHS performance. The ESAP addresses construction OHS measures, construction and public grievance mechanisms and life and fire safety of the warehouse. The sponsor is required to ensure that the project complies with EBRD's performance requirements as well as submit an annual environmental and social report to the Bank. The Bank will review the project's environmental and social performance by reviewing the annual environmental and social reports as well as site visits if deemed necessary.

Technical Cooperation


Company Contact Information

Ana Dumitrache, Co-Country Manager
CTP, 5-7 Vasile Lascar St., 2nd floor, Bucharest, sector 2, 020491, Romania

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Share this page: