GTC with a binding term sheet for the financing of Ada Mall

  • GTC signed a binding term sheet with Banca Intesa Beograd, VUB and PBZ for EUR 64 million for the financing of Ada Mall in Belgrade
  • Ada Mall will offer 34,400 sq. m of modern, well designed retail space
  • The project is scheduled for completion in Q4 2018

GTC S.A. has signed a binding term sheet for the financing of construction of Ada Mall, its first retail investment in Belgrade. The agreement concluded with Banca Intesa Beograd, VUB and PBZ, all banks of Intesa Sanpaolo group, one of the top banking groups in Europe, amounts to EUR 64 million.

Ada Mall will offer 34,400 sq. m of state-of-the-art retail space designed and built according to the highest international standards.

“With our first retail investment in Serbia, we wanted to create something extraordinary and leave a permanent mark on the city’s landscape. That is why Ada Mall was designed to provide its visitors with a unique Belgradian shopping experience” – said Thomas Kurzmann, GTC’s CEO.

This first class shopping center will be located in Cukarica, directly opposite Ada Ciganlija – a popular recreational area. Apart from the state-of-the-art design concept and an attractive offer with over 100 shops and brands, Ada Mall will also provide entertainment and relaxation zones, like a panoramic roof garden with a view of the lake.

We are very pleased to be the main financial partner of this project in cooperation with subsidiaries of our parent group Intesa Sanpaolo, thereby supporting the completion of one more significant foreign investment in Serbia that will help create jobs while also providing new content for citizens. We are confident that in this way we will also contribute to the further recovery of the domestic construction industry given that investments of this scope always have wider effects, engaging a large number of local firmssaid Draginja Djuric, President of Banca Intesa Executive Board.

GTC received the final building permit for Ada Mall in mid-February 2017 and started the construction on 6 March 2017, whereas the opening of the mall will take place in autumn 2018.

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First tenants moved into Fortyone III

  • FortyOne III – the third building of the modern FortyOne complex in Belgrade – was completed on time
  • The FortyOne complex comprises three A-class  office buildings
  • Total leasable area of the project is 27,000 sq. m

GTC Group has officially opened the third building of the FortyOne complex in Belgrade, marking the completion of the entire investment. The first tenants moved into the building at the beginning of April. The prominent list of tenants that have already chosen FortyOne III as their new premises include Endava and DHL.

FortyOne III offers a total leasable area of over 10,700 sq. m and was built in accordance with the highest international standards of ‘green’ development. The first tenant has already moved in. Endava, an IT services company, with over 16 years of experience of working with some of the world’s leading Finance, Insurance, Telecommunications, Media, Technology, and Retail entrepreneurs, leased 6,500 sq. m, over a half of the building’s lettable area.

Additionally, FortyOne III will feature Muscle Beach Gym – a modern fitness centre encompassing over 370 sq. m.

“Since the very beginning, the FortyOne complex brought us many reasons to be proud of. Therefore we are very happy to announce the successful completion of the whole project, especially as the complex is highly valued among tenants and was awarded the LEED Gold certified as the first building in Belgrade” – said Thomas Kurzmann, GTC’s CEO.

Also DHL, a division of the global market leader in the logistics and transportation industry, will be moving into the building shortly and will occupy 280 sq. m.

FortyOne is a world-class complex with three office buildings conveniently located in the New Belgrade municipality (on the corner of Bulevar Milutina Milankovica and Bulevar Umetnosti). The business park is close to Belgrade’s main highway, which makes it easily accessible by both car and public transport.

FortyOne III

GTC signed a refinancing loan agreement for Corius office building

  • GTC signed a refinancing loan agreement for Corius – the third building of the modern Aeropark Business Centre office complex
  • New investment loan in the amount of EUR 11.4 million from Berlin Hyp Bank

GTC S.A., one of the leading commercial real estate companies in Central, Eastern, and Southern Europe, has signed an EUR 11.4 million investment loan with Berlin Hyp Bank for the refinancing of the previous loan agreement for the Corius office building. The A-class office building offers a total leasable area of over 9,700 sq. m and is GOLD LEED certificated.

The Corius office building is a part of Aeropark Business Center complex located at 17 Stycznia Street, in the direct proximity of Warsaw’s Chopin Airport. The entire Aeropark project offers a total of 29,000 sq. m of high-quality commercial space, giving the tenants room for growth within one office park.

“The refinancing granted by Berlin Hyp Bank confirms the unceasing potential of this pro-ecological development. We appreciate the continued relationship of the company with its lender” – said Erez Boniel, GTC’s CFO.

The whole complex combines both the good quality modern office space with easy access to public transport, thus meeting the needs of even the most demanding tenants. Its architectural design, reflecting the natural advantages of the surroundings (including a pond and green areas) and the proximity to the airport, was created by the renowned APA Kuryłowicz & Associates studio. Aeropark Business Center offers 180 parking spaces that are available for tenants in an underground garage and additional parking spaces for guests, taxis, and couriers on the ground level.

Currently, the entire Aeropark Business Center complex (consisting of Nothus, Zephirus, and Corius) boasts tenants such as are Novo Nordisk, Mitsubishi, Eaton, Avon, Pandora, and Funai. Corius received a prestigious LEED (Leadership in Energy and Environmental Design) certificate, granted by American Green Building Council, that promotes environmentally friendly real estate development.

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