Globe Trade Centre S.A. (GTC) announced that in 2013 it leased almost 164,000 sq m of office and retail space throughout all its markets in Central and Eastern and South East Europe. This marks a remarkable 31% increase over 2012.
Throughout 2013, Poland remained a key destination for tenants and commercial real estate investments. Therefore it comes as no surprise that leases in Poland reached 44,900 sq m. This accounts for 27% of total GTC leases signed in CEE and SEE.
The second biggest market for GTC is Hungary, with 35,500 sq m of signed lease agreements in 2013, out of which a majority are lease extensions. The third largest market for the company is Romania, with 28,800 sq m of let office and retail space.
“2013 was very significant for us. We signed new leases and extended leases for over 160,000 sq m of space. The magnitude of such leasing activity in the CEE and SEE region is a remarkable achievement” – said Alain Ickovics, GTC’s President of Management Board. “Despite some pressure on rental rates in certain markets our performance across the region in 2013 demonstrates tenants appreciation of GTC properties and their reluctance to compromise office quality or retail locations” – added Mr. Ickovics.
Besides Poland, Hungary and Romania, other markets executed 54,500 sq m of new space leased in 2013. Those markets are: Croatia (19,700 sq m), Serbia (14,200 sq m), Bulgaria (12,000 sq m), Czech Republic (7,500 sq m) and Slovakia (1,100 sq m).
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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 548,000 net sq m of completed and operational commercial space (of which the Group’s proportional interest amounts to 530,000 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 WIG30 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.