GTC`s first retail development in Czech Republic

• GTC starts the construction of Galerie Harfa in Prague
• The company has signed a EUR 147 m loan agreement with Eurohypo AG
• Galerie Harfa is scheduled for completion in Q4 2010.

GTC starts the construction of Galerie Harfa in Prague after having secured financing of the investment from Eurohypo AG bank. Interspar, Marks & Spencer, Esprit and Intersport are among the first anchor tenants of Galerie Harfa.

The investment will be financed by the loan of 147 million Euro from Eurohypo AG – a leading international specialist bank for real estate and public finance.

Galerie Harfa is located near Prague’s city centre, in the district of Prague 9 on Českomoravská Street, next to a metro station. The multifunctional O2 Arena with capacity of 18,000 people is situated within the immediate vicinity. The hall is a real attraction for the crowds attending sporting and cultural events in the capital of Czech Republic.

The three-storey Galerie Harfa will offer a total 41 000 sq m area of retail and entertainment, as well as 20 000 sq m of modern office space. With primary catchment area of nearly 220 000 people and excellent traffic accessibility, the project will create a new shopping destination in Prague.

The construction of Galerie Harfa in Prague started in June 2009. GTC has already concluded lease agreements for more than 15 500 sq m of retail space. The tenant mix includes the most popular and recognizable international and local brands.  Interspar supermarket chain will occupy more than 4 800 sq m. Marks & Spencer, one of the leading retailers of clothing and home products, will take nearly 2 100 sq m. Other clothes brands, Esprit and Lindex, will together occupy more than 2 600 sq m. Intersport will lease more than 1 100 sq m. Datart (electronics) will lease more than 1 100 sq m. Local brand HM Studio (toy store) will take more than 890 sq m.

Galerie Harfa is scheduled for completion in Q4 2010.