Edison follows Galileo and Newton

GTC has begun construction of Edison office building.In 1Q 2008 the developer will deliver 10,000 square meters of modern office space in an attractive Cracow venue.Newton rented out in full – first tenants to move in April 2007.

The Warsaw Stock Exchange-listed Globe Trade Center has begun construction of the Edison modern office building. The complex will be opened in 1Q 2008.

Edison will be the third building in the GTC office complex, following Galileo and Newton, which is being developed at the junction of Al. Armii Krajowej and ul. Przybyszewskiego streets in Cracow. This will be an 11-storey building with 10,000 square meters of A class office space and 400 square meters of shopping and services space on the ground floor.

The GTC office complex is situated on the way leading directly from the Cracow centre, 5 minutes driving, to the Balice international airport, with convenient access by public transportation and a quick connection with the E40 international route, near the Novotel hotel.

The architectural design has been prepared by Marek Dunikowski from DDJM, Cracow’s renowned architectural lab. In its form and technological solutions, the design draws from those applied in Galileo and Newton, which were also prepared by DDJM.

Edison will be a regular spiky block in the shape of a cube, with the elevation combining ecru ceramics and transparent glass panes. The building will be surrounded by strips of low green plants.

A typical level in the building will offer some 1,000 square meters of well-lit office space and it will accommodate one or more independent tenants. The building will comprise 4 lifts. Their internal distribution allows free arrangement of office space – from typical “office” space to “open” space. Edison will accommodate 1500 office staff.

The building will be equipped in modern telecommunication systems, elevated ceilings, openable windows, air-conditioning, and professional guards. The building will also contain an underground car park for 125 vehicles. Tenants should be content to find comfort with 3-meter-high ceilings, counted from the floor to the elevated ceiling.

“The success of Galileo and Newton confirms the fact that Cracow is in need of modern, high class office space. More and more international and Polish firms are investing and opening offices in Cracow. I am convinced that Edison offers the most attractive office space in Cracow now thanks to its excellent location, comfortable working conditions for tenants, and the technological solutions applied” – says Mariusz Kozlowski, member of the GTC Board.

Warbud SA is general constructor of the Edison office building, whereas CB Richard Ellis and Knight Frank are responsible for space rent.

The construction completion is due 1Q 2008, and the total investment cost is estimated at EUR 16 million.

In April 2007 GTC will open the Newton office building, which has been rented out in full 3 months prior to investment completion. Among the renowned firms which have chosen Newton to be their Cracow residence are IBM, which has rented nearly a half of the whole space, 5,000 square meters, Hewitt, 2,000, Fortis Bank and Deloitte.

Cracow is one of the key cities for Globe Trade Centre operations in Poland. Two years ago the company opened its first modern shopping and entertainment centre, Galeria Kazimierz. The complex is located on post-industrial areas, revitalized by GTC, of the former meat processing plant.

GTC is planning new investments in Cracow. On their completion GTC’s real estate portfolio will grow to amount to 55,000 square meters of net space. In Spring 2007 the company is planning to begin construction of offices on a new level of Galeria Kazimierz, and the Kazimierz Office Centre to be located next to the Galeria building.

Above the shopping and entertainment part of Galeria Kazimierz a new additional level will be constructed with 2,000 square meters of A class office space. These offices will expand GTC’s office offer in the historical homes of Galeria Kazimierz.

The five-storey Kazimierz Office Centre, with architecture resembling the style of Galeria Kazimierz, is to be constructed at ul. Podgorska street in direct proximity of Galeria Kazimierz. Glass and steel will be dominant the construction. The office building will offer 17,000 square meters of top quality office space. Thanks to the proximity of Galeria, apart from the excellent modern offices, the tenants will access the rich shopping and services facility.

GTC`s New Investment in Zagreb, Croatia

Globe Trade Centre expands its portfolio of Croatian investments.The company acquires a plot in Zagreb to build 24,000 sqm of shopping and office space

GTC Croatia, a company with a 97%-owned subsidiary of Globe Trade Centre (GTC), has acquired a 12,000 square meter plot in Zagreb, the capital city of Croatia. GTC is planning to develop there a modern retail and office complex.

The new GTC investment will be constructed on 12,000sqm by Slavonska Avenja, the main entrance road from the east, and one of Zagreb’s main transportation routes, linking the eastern and western ends of the city. GTC is going to develop there a retail and office complex, with the total gross rentable space of approx. 24,000 sqm.

The total investment cost is estimated at about 42 million euro.

“Croatia is one out of the nine countries where GTC conducts operations. We want to benefit from its booming real estate market by developing projects in all three segments, i.e. office, retail and residential. By expanding the GTC portfolio in Croatia, we are consistently implementing our strategy of an accelerated expansion on the most promising emerging European markets” – says Hagai Harel, the Member of GTC Management Board.

GTC began its operations in Croatia in 2004. The Company has vast experience in the development of shopping and entertainment centres – in Poland GTC has constructed two successful, third generation malls: Galeria Mokotow in Warsaw and Cracow’s Galeria Kazimierz. Such experience has been used to develop the Avenue Mall – Zagreb’s first shopping and entertainment centre (26,500 sqm NRA), together with an office tower (7,000 sqm NRA). Its opening is due at the end of 2Q 2007, and the shopping space has been almost completely leased (www.avenuemall.com.hr)

In September 2006 GTC Croatia acquired a majority interest in a prestigious residential and hotel project on the Istria peninsula on the Croatian sea coast. On the 130 hectare plot approx. 111 villas and luxury apartments, a 5-star hotel and an 27-hole golf course are to be developed. The completion of the investment is planned for 2009.