New tenants in Platinium Business Park

Globe Trade Centre S.A. has signed lease agreements for a total office space of 2700 sq m in the second building of Platinium Business Park. Media house ZenithOptimedia Group, as well as OKI Printing Solutions and Electrabel, will move into the new offices this August, directly following the completion of construction.

Media house ZenithOptimedia Group belongs to Publicis Groupe – one of the largest advertising holding companies in the world. The company has been operating on the Polish market since the beginning of 2006, and it will open offices with 1 700 sq m space in Platinium II.

OKI Printing Solutions Polska is the Polish branch of the world leader in the colour printer market. The company has its agencies in 120 countries and is a specialist in creating professional printing equipment for business purposes. OKI will already move into Platinium II in September taking up over 700 sq m.

Electrabel Grupa Suez Polska will move into over 300 square metres of office space. The company provides energy services and energy for industrial clients and deals in wholesale of electric energy and energy fuels. The company owns a power station in Połaniec.

The fact that some of our tenants are international companies from a variety of industries proves that Platinium Business Park is an excellent location for all those who are searching for well-organized comfortable and modern office space as well as creative atmosphere at their workplace,” said Katarzyna Pankiewicz, Director for Office Space Lease in Globe Trade Centre S.A.

Platinium Business Park is being constructed in Warsaw at the crossroads of Domaniewska and Wołoska streets. The complex of 5 buildings situated in a prestigious and convenient area, in the vicinity of shopping and leisure centre Galeria Mokotów, will offer the total A class office space of 45 000 sq m.

”The Mokotów district has become a part of the city which is very attractive for investors. Many tenants choose that district for headquarters for their companies mainly because of the availability of space and the convenient communication connecting it with the city centre and the airport, but also because of a significant difference in lease costs as compared with the centre of the city. The buildings of Platinum BP guarantee, among other things, a high standard, easy space arrangement and a tenant friendly neighbourhood,” said Monika Rusek from &Wakefield’s Office Space Department – exclusive agent responsible for lease of Platinum Business Park.

In PBP buildings there will be, among other things, raised floors for structural wiring; the buildings will meet the highest technical standards, and glazed façades will ensure the optimum sunlight access. The central point of Platinium Business Park is a yard with a pond and a green area which will be a spot for leisure and meetings for those working in the office buildings of the complex. The design of Platinium Business Park has been prepared by architectural studio JEMS Architekci. The general contractor for the first two buildings of the complex is Warbud. Cushman&Wakefield, exclusive agent, is responsible for the lease of office space in Platinium Business Park.

Globe Trade Centre S.A. Developer of the Year 2007 for Southeastern Europe

Globe Trade Centre S.A. is currently implementing 40 real estate investment projects in Southeastern Europe, specifically Romania, Bulgaria, Croatia and Serbia. The company’s project portfolio in this region consists of 330,000 sq m of commercial real estate, 140,000 sq m of office space and 440,000 sq m of residential buildings. The highlights of GTC’s operations in this part of Europe over the past 12 months include the opening of Avenue Mall (Zagreb’s first shopping and entertainment centre is fully tenanted and visited by 800,000 customers a month), the sale of 1,400 apartments in Romania and Serbia, and the commencement of constructing shopping malls in Romania, Bulgaria, Serbia and Croatia.

The Developer of the Year 2007 for Southeastern Europe award is the second distinction in recognition of the Company’s achievements after the Developer of the Year 2007 for Central and Eastern Europe award. The award was made by a 15-member jury comprising the most prominent representatives of the European real estate industry, including finance experts, developers, real estate agents and consultants. Apart from GTC S.A., the Developer of the Year Award nominees for 2007 included the Anchor Group, Avrig 35, Baneasa Investments, Cefin Real Estate, Mivan, Phoenix Real Estate, ProLogis, River Invest and TriGranit.

“This award demonstrates that our company’s successful operations continue to win recognition. GTC is currently developing 130 construction projects in three market sectors. The fact that this is the second award we’ve received this year – the first being the the best developer for Central and Eastern Europe – makes the jury’s verdict all the more special to us. This underscores the importance of GTC’s contribution to the growth of the regional real estate market”, said GTC Board Member Hagai Harel.

This was the third SEE Real Estate Awards. The award ceremony was held at the Marriott Hotel in Bucharest and was attended by 350 real estate industry figures.

GTC`s profit triples in Q1 2008

In Q1 2008 Globe Trade Centre S.A. (GTC) achieved a net profit of EUR 34.8m – an increase of 211% y-on-y. The operating profit grew 236% y-on-y to EUR 59.9m. The total assets reached almost EUR 2bn, whilst the total equity has exceeded EUR 1bn.

GTC continues to report impressive financial results. Both profit from operations and net profit in Q1 2008 more than tripled year-on-year. Revenues from operations grew 7% to EUR 15.9 m, as advanced sales in the current residential projects has not yet been reflected in the financial statements.

The value of investment property has increased by almost 70% y-on-y to EUR 947.7m, while total assets reached EUR 1.976 bn (an increase of 58% y-on-y).

The revaluation profit upon completion of two office buildings – Nefryt (15 300sqm NRA) in Warsaw and Globis Wrocław (14 700 sqm NRA), as well as an office part of Galeria Kazimierz in Kraków (2 000 sqm NRA), amounted to EUR 52.5 m.

In Q1 2008 the company achieved a development margin of 95%, an increase from the 88% margin recorded in Q4 2007. Such an impressive performance proves that GTC is able to achieve above-the-market returns on new developments thanks to location, efficient design and the technical specification of the buildings, as well as the prime quality of its tenants.

The Q1 2008 results indicate that the level of investment yields for a high quality, class A commercial property has remained unchanged compared to Q4 2007 . The international, independent property appraiser that conducted a valuation of Nefryt and Globis Wrocław, based their valuation on investment yields of 5.9% and6.3% respectively.

In May 2008 GTC signed the largest lease agreement in the history of its operations. State Street – the world’s leading financial institution with $15 trillion in assets under custody and $2 trillion in assets under management, leased 11 600 sqm in Kazimierz Office Centre in Kraków and 3,000sqm in the recently completedEdison Building. The Kazimierz Office Centre comprises of 15 300 sqm of net rentable area and is scheduled for completion in Q2 2009.

GTC is responding to strong demand for office space in Poland with its largest development pipeline ever. In Warsaw a second building in Platinium Business Park (9 100sqm) and Zephirus in Okęcie Business Park (9 000sqm) will be delivered in Q3 2008, while office projects in Łodz (37 000 sqm), Katowice (21 500 sqm) and Wrocław (15 000 sqm – the first phase) are scheduled for completion at the end of 2009.

The company is expanding its retail portfolio quickly. In Q1 2008 GTC started construction of its largest retail project in the pipeline – Galeria Jurajska in Częstochowa (48,000sqm NRA). In Romania three shopping centers are scheduled for completion in 2008 – Galleria Buzau, Galleria Piatra Neamti, and Galleria Suceava. 12 more shopping centres in the Czech Republic, Hungary, Romania, Bulgaria , Romania, Serbia and Croatia are planned to be opened in 2009-2010.

GTC continues to successfully develop residential projects in the region. Over the last 12 months the company has sold 1200 apartments in its two projects in Bucharest: Rose Garden and Felicity, of which 500 units are expected to be handed over in 2008. In two other projects scheduled for completion this year – Belgrade’s Park Apartments and Prague Marina, 100% and 70% of flats have been sold respectively. The revenues and profits from these 4 projects will be recognised in GTC’s financial statements only upon completion and hand over of apartments.

The company starts its operations in Russia – in April 2008 GTC Russia, acting through its subsidiary, acquired 50% interest in the office project in Sankt Petersburg. The joint venture is going to develop 110,000 sqm of net office space, scheduled for completion in 2011-2013. Globe Trade Centre S.A. holds 95% in GTC Russia.

GTC’s financial liquidity is strengthening its competitive position in the region. At the end of Q1 2008 the company held EUR 286 m in cash, the ratio of long-term debt to total assets stood at 39%, while the bank financing of all projects under construction in Poland as well as for most of the projects in other countries has been secured.

The development pipeline has increased, either through new acquisitions or expansion of existing projects, to 2.027m sqm of net space. Most of the projects are planned to be completed by 2011.

The speed and the quality of GTC’s operations have been recognized by real estate professionals. In February 2008 Globe Trade Centre S.A. received the prestigious Central & Eastern European Real Estate Quality Award for the CEE Real Estate Developer of the Year 2007, after being awarded the same title in 2004. In May 2008 the company was also named the Developer of the Year in the Southeastern Europe Real Estate Awards organized by

GTC has sold 1,200 apartments in Romania

GTC Romania, a subsidiary of Globe Trade Centre S.A., has sold 1,200 residential units in the ROSE GARDEN and FELICITY residential projects in Bucharest. Construction of the two projects began less than a year ago.

ROSE GARDEN is the first residential development launched by GTC in Romania. The complex is situated in the Bucharest city center and consists of more than900 flats. More than 700 of them have already been sold, and about 500 are scheduled for completion by the end of the year. The first flats will be delivered to buyers this month.

The complex will comprise 11 buildings. Future residents will be provided with about 1,100 parking spaces, a retail and service area, and a playground for children. True to the name, the complex will feature real rose gardens. More information about the project is available at:

Construction of the second complex, FELICITY, was launched at the end of October last year. About 7 months after the start of construction, 500 of the 1,179 flats in the project have already been sold. Construction of the first 112 flats is expected to be completed in the first quarter of 2009.

FELICITY is located in the northern part of the Romanian capital, in a popular neighborhood of detached houses. It will be a complex of 3- to 5-storey buildings surrounded by expansive green areas. Ground-floor flats will have their own private gardens. The residential complex will also include a shopping center, playground, café, pharmacy and kindergarten. More information about the project is available at:

GTC has been active in Romania since 1999, carrying out projects in three main sectors of the real estate market: residential, offices, and shopping centers. Today GTC’s residential portfolio of projects under development in Romania comprises approximately 5,000 residential units.

Record lease in GTC history

Globe Trade Centre S.A. (GTC) concluded a lease contract with State Street for 11,600 sq m of office space in the Kazimierz Office Center in Cracow.

State Street is a leading provider of financial services to institutional investors. With $15 trillion in assets under custody and $2 trillion in assets under management, State Street operates in 26 countries and more than 100 geographic markets worldwide. Upon completion, its operations centre in Cracow will have the capacity to employ approx. 1,000 people.

Kazimierz Office Center is located next to Galeria Kazimierz shopping centre, between Podgórska and Gęsia streets. In addition to the office space on the upper floors, there will be 2,650 sq m on the ground floor dedicated to retail and service facilities. The building is scheduled to be completed in the 2nd quarter of 2009.

“The contract concluded with State Street proves that international corporations are strongly interested in investing in Poland, especially in Kraków” said Michał Melaniuk, Commercial Director at GTC. “We are proud that such a prestigious partner, one of the leading financial institutions in the world, has chosen the offices developed by Globe Trade Centre in Cracow for its expansion into Eastern Europe. This is the best recommendation for prospective tenants.”

Maciej Gołębiewski, Director of Poland’s Global Corporate Services at CB Richard Ellis, the largest real estate advisory firm worldwide, which represented the tenant during the negotiations process, commented: “We are especially pleased with this deal, with such a prestigious tenant in such an attractive development. A transaction of this scale only proves the growing attractiveness of Cracow as a major business destination for international players. The demand in Cracow has been boosted by such sectors as financial services, IT, telecommunications and new technologies”.

The lease-signing ceremony took place in Cracow City Hall on 6th May 2008 in the presence of Cracow Mayor Jacek Majchrowski and US Consul General in Poland Anne Hall. On behalf of Globe Trade Centre S.A. the contract was signed by Eli Alroy, president of the Supervisory Board of GTC, while State Street was represented by Tim Caverly, executive vice president of State Street’s investor services business in continental Europe.