Globe Trade Centre S.A. (GTC) has purchased from Polnord S.A. (Polnord) the remaining 50% of the Galeria Wilanów shopping center project in Warsaw. As a result, GTC will be now developing and managing the Galeria Wilanow project by itself.
The modern shopping and entertainment centre in Wilanow will comprise of up to approx. 80,000 sqm of net rentable retail space. The first phase of the project will comprise of approx. 60,000 sqm of net rentable area and the cost of that phase is estimated at 160 m euro. The project is under advanced preparations and will be started as soon as all permits will be obtained. The construction of Galeria Wilanów will last about 18 months.
The primary catchment area of the mall includes the most affluent housing districts of Warsaw such as Ursynów, Wilanow and Sadyba, as well as a prestigious resort area in nearby Konstancin.
Simultaneously, GTC plans to develop another modern shopping and entertainment centre in the Northern part of Warsaw. The mall will be constructed on a 4,9 hectare site in the Białołęka area
