GTC expands its portfolio of Hungarian office investments. The company has acquired plot for construction of new office centre Renaissance Plaza in Budapest.
GTC has acquired 6,000 sqm of land at Vaci ut street in Budapest, where it is planning to develop a modern office complex. In the new A class facility the developer will offer some 23,500 sqm net of office space.
GTC Renaissance Plaza will be developed at Vaci ut street, one of the quickest developing commercial areas in Budapeszt (District 13). At present, a 19th century market hall and old factory buildings occupy the plot. GTC Hungary is planning to revitalize this site and create an exceptional architectural complex whose format will be based on the existing structures. GTC Hungary representatives are co-operating with the District and City authorities on restoring and sustaining the historical symbols of this venue.
“In commencing work on this outstanding project we wish to combine the plot’s natural assets with future tenants’ requirements. GTC Renaissance Plaza will be an exceptional combination of historical architecture and the latest architectural solutions” – says Hagai Harel, Member of GTC Board.
GTC’s new investment will be developed near Centerpoint, an A class office building that GTC opened in 2006 and that is rented out in full.
“Purchasing a plot in an excellent Budapest location is a significant step in the development of GTC Hungary, whose portfolio has risen to 430,000 square meters of commercial and residential space” – admits Eli Alroy, President of the Board of Directors GTC S.A.
GTC Hungary is 97%-owned by Globe Trade Centre S.A
