• GTC has concluded the biggest leasing deal of the last few months in Romania
• The company signed a lease agreement with Rompetrol
• Rompetrol will take more than 9,300 sq m in the City Gate office complex in Bucharest
GTC Romania – a subsidiary of Globe Trade Centre S.A. (GTC) – has signed a lease contract for over 9,300 sq m of office space in the City Gate complex in Bucharest. It was the largest rental transaction concluded recently in Romania.
Rompetrol Group is an international petroleum consortium, operating in 12 European countries and one of the key players of the fuel sector in Southeast Europe. The company is the second biggest fuel maker in Romania, with a 40% share in the local market. The sole shareholder of Rompetrol is the Kazakhstan-based KazMunaiGas. Rompetrol’s turnover for 2009 is estimated at 7 billion dollars.
Rompetrol will occupy over 9,300 sq m of space in the northern building of the City Gate complex. The object is located in a prestigious business district, in the northern part of Bucharest, it consists of two independent towers, with net rentable area of 44,000 sq m.
Rompetrol will also have 200 parking places at their disposal (out of a 1000 total parking places available). The value of the 5-year contract amounts to approximately € 11 million. With the contract with Rompetrol signed, 100% of space in City Gate’s northern building is now leased. Romtelecom – Romania’s biggest telecommunications company also located their offices in City Gate.
Some of the most prominent tenants of the southern tower include: Microsoft, Millenium Bank and Hoffmann LaRoche. Additionally, Autoitalia – a car dealer company occupies over 1,300 sq m of space at the bottom floor of the building. This part of the complex is rented in 70%.
Construction of the City Gate complex was concluded in Q4 2009. GTC Romania holds 60% of shares in the company responsible for the construction of the complex.
GLOBE TRADE CENTRE S.A. (GTC S.A.) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it 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 centers and residential sector.
GTC has developed about 700 000 sq m of net space and currently is the owner of completed commercial property with a combined net area of about 412 000 sq m. GTC also holds an impressive portfolio of investment at various stages of development which will facilitate the construction of 1.9 million of commercial and residential space.