November 24 (SeeNews) - Polish real estate developer Globe Trade Centre (GTC) said on Tuesday that it has commenced the construction of the Sofia Tower 2 class A office project in the Bulgarian capital.
The new office building will be located above the GTC-owned Mall of Sofia shopping centre, GTC said in an interim financial statement.
GTC, which is also active on several other markets in Southeast Europe, swung to a net loss of 16.5 million euro ($19.6 million) in the first nine months of 2020 from a net profit of 62.8 million euro in the same period of 2019. However, its result was mostly impacted by a 66.9 million euro loss from revaluation/impairment of assets in the review period.
In Bulgaria, GTC currently operates three projects - Mall of Sofia, Sofia Tower 1, and Advance Business Centre 1. The company has two office projects under construction - Sofia Tower 2 and Advance Business Centre 2.
($ = 0.8420 euro)