Globe Trade Centre S.A. (GTC), the leading developer of commercial real estate in Central, Eastern and Southern Europe, has signed letters of intent with the LPP S.A. and Cinema City International on leasing in total over 16.7 thousand sq m of retail space in the latest shopping malls expected to be built in Warsaw.

Both projects, Galeria Wilanow and Galeria Bialoleka, have been increasingly popular with prospective tenants. Cinema City International, the largest cinema operator in Central and Eastern Europe and Israel, as well as the third biggest cinema network in Europe, has reached an initial agreement with GTC on renting more than 4 000 sq m in Galeria Wilanow and more than 3 300 sq m in the Galeria Bialoleka.

“A 12-screen cinema will be built in the Galeria Wilanow. On the other side of Warsaw, Galeria Bialoleka will benefit from the Cinema City multiplex with 11 screens”- said Jacek Wachowicz, member of GTC’s Management Board.

The company has also reached an agreement with LPP S.A. (LPP), Poland’s biggest clothing company and owner of popular brands and chain stores such as: Reserved, House, Cropp, Mohito, a newly introduced and successful brand Sinsay as well as Home&You, a brand of popular house decoration stores. LPP will rent over 4 600 sq m in Galeria Wilanow and over 4 700 sq m in Galeria Bialoleka. Reserved’s flag stores will be located in both of the shopping malls.

“We are extremely pleased with the agreements with LPP and Cinema City. An interest of such important tenants, who offer both shopping and entertainment is one of the main factors which attracts customers to shopping malls. It goes without saying that it also proves validity of our decisions in terms of planned investments’ location. Signing letters of intent with LPP and Cinema City is important for us, as we are talking with other key potential tenants interested in retailing in our two future malls.”- added Jacek Wachowicz.

Jones Lang LaSalle, a company that regularly works with GTC, provided advisory services during talks with the LPP.

Both projects, Galeria Wilanow and Galeria Białołęka are at the final stage of the conceptual work prior to commencing construction works. GTC estimates that Galeria Bialoleka will open its doors in 2015, and Galeria Wilanow in 2016.

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GLOBE TRADE CENTRE S.A. (GTC) is one of the leading developers in Central, Eastern and Southern Europe. The company was established in 1994 in Warsaw, Poland. Currently GTC operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine. GTC develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centres and residential. To date, GTC has developed approximately 950,000 sq m of net commercial and 300,000 sq m of residential spaces. The company currently manages a combined 602,000 net sq m of completed and operational commercial space (of which the Group’s proportional interest amounts to 548 thousand sq m). GTC also holds an impressive portfolio of investment projects at various stages of development. Those will facilitate the construction of 1.1 million sq m of commercial space and 615,000 sq m of residential space. GTC S.A.’s total assets exceed EUR 1.9 billion. GTC S.A. is listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company’s shares are also included in the international Dow Jones STOXX Eastern Europe 300 and the GPR250 index, which comprises the 250 biggest and most liquid real estate companies of the world. Also, GTCS.A. is listed on the FTSE EPRA/NAREIT Emerging Index. GTC S.A.’s shareholders include many of the biggest Polish and international institutional investors.