Jiangsu Xinquan leases 17,486 m2 in CTPark Prešov Juh, which combines warehouse and office space. CTPark Prešov South has a strategic location in the third largest city of Slovakia with excellent highway connections to Košice (40 km) and the automobile cluster in Žilina/Martin (200 km) and easy access to Poland (70 km). The Prešov Region has a highly qualified workforce, competitive labor costs, a diversified local economy with a strong
industrial heritage and the highest available level of state aid.
The region of eastern Slovakia has been the site of significant foreign direct investments, which underlines the economic potential of the area. Jiangsu Xinquan Automotive Trim is one of China's leading total solution providers for auto parts, and this will be its first plant in Europe, the latest evidence of the nearshoring trend in which multinational companies are increasingly moving in response to global supply chain disruptions and a changing geopolitical backdrop. they base their production closer to where their customers are located.
The region of Central and Eastern Europe, especially Slovakia, the Czech Republic and Hungary, has firmly established itself as a highly efficient center of automobile production worldwide, surpassing Germany in nominal automobile production in 2022. Asian companies (mainly from China, Japan and Korea) are part of this trend as they have continuously invested in the CEE region since the 2000s and their investments will continue to increase as Europe has become a key part of China's global expansion in the sector electric vehicles.
Ivan Pastier, CTP's Business Development Director for Slovakia, said: "Given Slovakia's historical popularity in the automotive sector, it is not surprising that Jiangsu Xinquan Automotive Trim has chosen CTPark Prešov Juh as the location for its first European plant. This agreement demonstrates not only how the automotive sector drives industry in the CEE region, but also how popular the CEE region is becoming for multinational companies looking to set up, thanks to its strategic location, developed transport infrastructure and skilled workforce its production in Europe. A significant part of our Slovakian portfolio is made up of tenants from the automotive sector and we expect this number to continue to increase as car companies and Asian manufacturers continue to shift car production to CEE countries due to the nearshoring trend. Having invested in our land bank in Slovakia several years ago, we are now seeing the benefits of this investment with new nearshoring clients enabling the expansion of our parks across the region. We look forward to welcoming Jiangsu Xinquan Automotive Trim to the thriving business ecosystem we are creating at CTPark Prešov Juh, where companies can collaborate and grow together, helping to revitalize the local economy. Strong demand from our Asian clients led us to open CTP's first Asian office in Hong Kong last year, bringing us closer to them and better understanding their needs as they move more and more production to Europe.”
Chairman and CEO of Jiangsu Xinquan Automotive Trim, Tang Zhihua, said: “We are looking forward to opening our first plant in Europe with CTP in Slovakia. CTPark Prešov Juh offers a strategic location with exceptional connectivity, and its equipment will allow us to efficiently manufacture our products in a location that is closer to our end users."
Eastern Slovakia is a location where CTP invested in speculative purchases of land a few years ago. As a result, it is now poised to respond to the growing demand for industrial real estate in the area, driven by a combination of factors such as nearshoring and rapidly expanding economies in the CEE region. CTP owns and operates three parks in eastern Slovakia – CTPark Prešov South, CTPark Prešov Sever and CTPark Košice.
