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GTC obtains permit for office building in Romania

GTC obtains permit for office building in Romania GTC CEO Thomas Kurzmann

BUCHAREST (Romania), January 7 (SeeNews) - Polish real estate developer Globe Trade Centre (GTC) said on Monday it was granted the building permit for an office building in Romania's capital Bucharest.

The City Rose Park will be a new high-end office development in the northern part of the city, GTC said in a press release.

The building will have an easy access to business and recreational facilities grouped around the Herastrau Park and the two main office hubs – Piata Victoriei and Piata Presei Libere.

"We are delighted with the outcome of the strong performance of our team, as last days of 2018 did not stop our activities. We signed some very important and impactful deals and received building permit, which will accelerate our further growth in 2019," GTC’s CEO Thomas Kurzmann said.

GTC also said that just before the end of 2018, it has signed new loan agreements worth 94.6 million euro ($107.8 million), out of which 40 million euro was used for the refinancing of its three FortyOne office buildings in Belgrade, Serbia.

Also, the company said it has achieved 60% pre-lease level in Matrix A building in the Croatian capital Zagreb. The building was leased to Spaces (Regus), which together with earlier leases to L'Oreal and VeniTure brings pre-lease in the office project to over 60%.

Poland-headquartered GTC group has developed 68 high standard, modern office and retail properties with a total area of over 1.2 million sq m in Central and Eastern Europe since 1994.

GTC now actively manages a commercial real estate portfolio of 43 commercial buildings providing over 703,000 sq m of lettable office and retail space in Poland, Budapest, Bucharest, Belgrade, Zagreb and Sofia. In addition, GTC has a development pipeline of over 425,000 sq m retail and office properties in capital cities of Central and Eastern Europe, nearly 103,000 sq m under construction.

($=0.8815 euro)