GTC is progressing with shopping mall development in Zagreb

GTC is progressing with shopping mall development in Zagreb.
Strong interest from retailers.

Globe Trade Centre S.A. (GTC), a leading developer in Central and Eastern Europe, is progressing with development of the shopping mall in Zagreb (Croatia). 26,000 sqm shopping center is expected to be completed in spring 2007 but is already gaining anchor tenant.

GTC, through its subsidiary GTC Croatia, is developing a shopping center of 26,000 sqm and A-class office space of approximately 7,000 sqm on a 1.7 hectare plot in Novi Zagreb district in the capital city of Croatia. Underground garage for over 1000 cars and storages are to occupy additional 34,500 sqm. The construction of Avenue Mall is scheduled to be completed in spring 2007.
The shopping center is attractively located near city’s main communication arteries and is surrounded by area where citizens with higher income live.
Renowned international experts are involved in the development of the project. The building is designed by Ed Jenkins of Laguarda.Low – the international architects that developed number of large retail centers in Russia, Portugal, Spain, Italy, Brazil, China and Japan.
Leigh Speakman, international retail consultant that was also involved in development of Galeria Mokotów and Galeria Kazimierz, is advising GTC on overall concept and a tenant mix.
Colliers International commercial real estate consultants have been nominated as the exclusive leasing agent for Avenue Mall.

GTC’s new shopping mall in Zagreb met strong interest from retailers. Currently the negotiations with cinema – Blitz Cinestar and supermarket Konzum, both the leading operators in Croatia, are in the final stage. Upon conclusion of the lease agreements with these two anchor tenants some 27% of the shopping centre will be pre-leased. Also talks with other key leases are being held.

Avenue Mall is the third shopping centre developed by GTC, after already completed two large successful centers in Poland – Galeria Mokotów in Warsaw and Galeria Kazimierz in Kraków.

New tenants in Mars building

Sun Studio – one of the largest independent studio groups in Europe has rented office space in Mars building which belongs to Mokotów Business Park. Gemius company, leader on the Internet research market, has also joined the tenants of this office building.

Sun Studio is one of the largest independent studio groups across Europe. It was established more than 35 years ago in Copenhagen (Denmark) and today it has studios in Norway, Sweden, Finland, Iceland, Netherlands and Belgium. It also co-operates with local partners in other several European countries.
Sun Studio services encompass film, TV and sound production, among others. Well-known European TV stations and music studios as well as numerous film studios from Hollywood closely co-operate with Sun Studio.
Sun Studio has rented the space of almost 800 sq. m. in Mars building within Mokotów Business Park.

Gemius SA is the largest Internet research company in Central Eastern Europe. It was found in 1999 as Global eMarketing. It has been operating under the name of Gemius since 2003. At present it is a market leader in Poland, Lithuania and the Czech Republic. Apart from that it also operates in other countries of the region. Providing reliable knowledge on the Internet market as well as professional services in the field of research, analysis and consulting for every entity are Gemius key activities. The company has rented the space of 1.100 sq. m. in the Mars building.

Mars building belongs to Mokotów Business Park office area. Each and every one of the buildings of Mokotow Business Park offers a customised space for every tenant. Within the area there are various facilities such as: restaurants, pubs, post office, three bank branch offices, travel agent and medical centre. The footbridge that spans across the street Mokotów Business Park and Galeria Mokotów is very convenient for office workers who can take advantage of numerous shops and services of the latter.

GTC is accelerating its investment in Romania

GTC is accelerating its investment in residential market in Romania. 700 apartments in two projects to be developed in Bucharest.

Globe Trade Centre S.A., through its subsidiary GTC Romania is starting two large residential projects in Bucharest.

First project called Green Dream Residence will be developed in attractive location in the northern part of the city next to Crowne Plaza Hotel and a prestigious country club. It is surrounded by parks and lakes which are popular leisure and recreation centre of Bucharest.

19,000 sq.m. of gross area and 7,600 sq.m. of underground parking will be constructed on a 1.1 hectare site. This high-end residential complex will comprise 150 to 175 apartments in 6-7 buildings, protected by 24-hours security.

The construction is planned to commence in Q1 2006, however due to strong interest in this project reservations have been already made by first clients.

The second project named Jasmine Park is going to be developed on a 2.6 hectare site in North-western part of Bucharest, in a popular residential district, close to the main road connecting to the city centre. Development program provides for construction of 60,000 sq.m. of built area above the ground. This modern residential community will contain approx. 500 apartments addressed mainly to the middle class.

These two projects mark impressive start of GTC residential developments in Bucharest.

Housing sector in Bucharest is experiencing accelerated growth resulting from increased demand stimulated by improving availability and affordability of mortgage lending, strong economic growth in Romania (8.3% in 2004) and increased purchasing power of Bucharest residents.