Dutch Logistics Developer CTP Plans €1 Billion Italian Expansion

Logistics and industrial property group CTP NV plans to invest €1 billion ($1.2 billion) in Italy over the next five years as it continues its expansion across Europe.

CTP is entering the Italian market through a €241 million acquisition of VLD SRL, a development company, it said in a statement Friday. VLD holds a pipeline of 1.7 million square meters of owned land and a further 7 million square meters either under contract or option.