GTC building 260,000 m² of commercial space

2010-01-26

Globe Trade Centre (GTC) is currently involved in a number of commercial projects due for completion in the next dozen or so months, according to Parkiet.
The company currently boasts a portfolio that includes structures with a total floor area of roughly 360,000 m². In the coming months the developer will complete work on further office and retail investments representing approx. 260,000 m² of space. One of its biggest undertakings scheduled that will be finished in the near future is the University Business Park in Lodz – a total of 37,500 m² of office space will be completed in this stage of the investment. The company is also building a similarly-sized investment – Galleria Varna (38,200 m²) – in Bulgaria. Thanks to completing such a large number of new projects, the developer's revenues from renting commercial space should increase by several dozen percent – its earnings from renting after the first three quarters of 2009 were approximately PLN 287m (€71.2m). The company has no plans to sell completed projects in the near future. On the other hand, it intends to embark on fresh projects in 2010, including an office building and a shopping centre in Bucharest, the fourth building in the Platinium Business Park and the third office building in the Okecie Business Park in Warsaw.