GTC begins construction of Newton office building in Krakow

Globe Trade Centre S.A. is launching the construction of the Newton office building in Krakow. This will be the second edifice in the GTC Office Centre compound following Galileo. The building process will be completed in early 2007 but the first tenants have rented the office area yet before the start of the construction works.

The Newton office building is second of the four buildings to make up the GTC Office Centre compound in Krakow, situated at the junction of the Armii Krajowej and Przybyszewskiego streets. Newton is a class A building featuring unique technological solutions. Its office area will equal that of its twin ten-storey Galileo edifice, which has 10,000 square meters.

The completion of the construction works is due in the first quarter 2007. It has already been agreed that part of Newton’s office area will be occupied by Hewitt Associates, whose offices are also housed in the Galileo edifice. Also, a world famous corporation has declared its intention to take on a substantial office area in Newton.

Newton, as its twin Galileo, has been designed by Mr. Marek Dunikowski of Krakow’s DDJM. Warbud S.A. will be General Constructor whereas Gleeds’ role will be that of Project Manager.

CB Richard Ellis and Knight Frank are in charge of renting out the office area in the Newton building.

GTC Office Center’s first edifice, Galileo, was made available to use in 2003. Its highly functional office area, attractive location and modern architecture have led to Galileo’s 100% renting. Among the tenants there are such well-known companies as IBM Business Consulting Services, Raiffeisen Bank Polska S.A., KPMG, Grupa Lotos and Cetelem.

Galileo’s success and the huge interest in the Newton building confirm it that both the location and the offices’ technological standard meet the requirements of the most demanding tenants. We believe that Newton’s office area will be rented out entirely before the works completion” – says Mr. Mariusz Kozlowski, Development and Investor Relations Director at GTC S.A.

GTC placed in the prestigious GPR 250 index

GTC is Central and Eastern Europe’s only company that has been placed in the GPR 250 index, which reflects trends in stock prices of the world’s 250 largest and most liquid property companies.

Globe Trade Centre S.A. stocks were added to the GPR 250 index on 1 January 2006. GPR 250 is a liquidity-weighted index, which reflects changes in stock prices of the world’s 250 most liquid property companies. Companies are selected based on their stocks’ USD trade volume over the past year. It is only companies with a free float market capitalization exceeding USD 50 million that are eligible for GPR 250 inclusion. Global Property Research (GPR), the GPR 250 Index publisher, is part of Kempen & Co., a Dutch investment bank established in 1903.

GPR specializes in analyzing the real estate companies sector. It is a leader in the creation of international share indexes from this sector. GPR’s client base comprises corporate investors and assets management companies. It is estimated that as much as USD 90 billion worth of assets are managed based on indexes developed and published by the Global Property Research.