GTC launches construction of a new office building in Cracow

Globe Trade Centre S.A (GTC) has acquired funding for the Pascal building in Cracow from BZ WBK S.A. The construction of the fourth building of the office complex is scheduled for completion in Q4 2009.

  • GTC started the construction of its fourth building in the Office Centre by Armii Krajowej Ave. in Cracow
  • The Company has signed a EUR 12mln credit agreement with BZ WBK S.A to fund the Pascal building project

GTC Korona S.A – the investment vehicle constructing the Pascal building, has entered a credit agreement with BZ WBK S.A bank for EUR 12 mln.

“The ability to acquire funding despite the current situation on credit markets confirms the stable position of GTC and the high level of our investments” – said Erez Boniel, Financial Director and Board Member at GTC.

The construction is planned to end in Q4 2009. Approximately 5 300 sq m of area of class A modern office space will be constructed on a 2 800 sq m plot by the Przybyszewskiego and Lea St. junction. Parking space for more than 50 cars is also planned for the convenience of the future users.

The Pascal building will be the last and the smallest (as far as area is considered) part of the GTC Office Center by Armii Krajowej Ave. in Cracow The body of the building will differ from the adjacent office blocks Galileo, Newton and Edison not only in size but in the external appearance as well. That will make Pascal and interesting conclusion of the whole complex. The design of the building was created by DDJM – a Cracow based architecture office.

The main contractor for Pascal is Warbud company.

The value of all of GTC’s investments, in all sectors of Cracow’s real estate market amounts jointly to EUR 200 mln.

Globe Trade Centre presents – KARKONOSKA Office Center

In September 2008, Globe Trade Centre SA (GTC) began realization of the Karkonoska Office Center – a modern A class complex of total lease area of nearly 33 500 sqm. Karkonoska Office Center will be the GTC’s second office investment in Wrocław. In the GLOBIS office building completed in the spring of the current year, among others, Hewlett Packard opened their offices.

  • Globe Trade Centre SA has commenced realization of the first phase of Karkonoska Office Center in Wrocław
  • Karkonoska Office Center is the company’s second investment in the city after Globis office building, which gained recognition amongst lessees.

Construction of KARKONOSKA Office Center began in September 2008. At present on lot of 1, 3 ha at Karkonoska Str. preparation works are being conducted. The future office complex is located near the „Bielański” junction, by the route connecting the city centre with the Special Economic Zone. The additional asset of the Karkonoska Office Center is good communication with the key roads in Poland, as well as with A4 motorway and International Airport.

Project of Karkonoska Office Center prepared by Studio EL in Wrocław foresees construction of three buildings arranged in cascade manner (A,B,C), connected with connecting passages on the first or second floor. They will be twelve, eight and five storeys high. The area of a typical floor of the A building is 1 335 sqm of the modern office space. Total available lease area amounts to 33 500 sqm. Apart from the offices, there will also be trading and service area and nearly 550 parking spaces available in the buildings.

Budimex Dromex is the general contractor for construction of the Karkonoska Office Center. The first phase of the Karkonoska Office Center shall include construction of two buildings which are going to be commissioned in the first half-year of 2010. In the next stage the building C, which will offer another 5 500 sqm of the lease area, will be built. The cost of construction of the two buildings shall amount to about 50 mln EUR.

International advisory company Knight Frank and local real estate office IK Development are responsible for the lease of the area.

Beside Warsaw and Cracow, Wrocław is the most dynamically developing office property market in Poland. It is perceived as perfect location for business operations and research centres by multinational concerns. Hewlett Packard, which rented 6 500 sqm in the GLOBIS office block – building realized by GTC earlier, may constitute an example.

In the first quarter of 2008 in Wrocław over 37 000 sqm of new offices were commissioned. It is estimated that realization of another 90 000 sqm will be completed until the end of the current year. The average rent amount per a sqm of the office area in Wrocław is 14-18 EUR.

Globe Trade Centre SA wins the awards in the annual Euromoney real estate survey

Globe Trade Centre SA received the prestigious Euromoney Liquid Real Estate Awards 2008 for the Best Overall Developer in Emerging Europe and the Best Office Developer in the region. The awards are based on the annual real estate survey among the real estate professionals.

GTC SA was ranked as number one in two categories. The company was elected „Best Overall Developer in Emerging Europe” and also gained recognition for its office investments and awarded „Best Office Developer in Emerging Europe” title.

„The voting for nomination in the Liquid Real Estate Awards constitutes exceptional recognition by our partners and clients for GTC’s accomplishments. The long-standing experience, both geographical and sector diversification of our portfolio and highly-qualified team of managers and employees contributed to GTC’s strong position in the region” – said Mariusz Kozłowski, the Investor Relations Director in GTC during Liquid Real Estate Awards ceremony.

The Euromoney Real Estate Survey canvasses the opinions of real estate experts from 54 countries worldwide including: developers, advisors, financial institutions, analysts and tenants.

The nominations were conducted from March until the end of April 2008. This year Liquid Real Estate Awards were given for the fourth time.

Globe Trade Centre id creating Katowice business district

Before the end of 2009 Katowice will have its business district, similar to those in most large cities. In June Globe Trade Centre S.A. (GTC) started its first Katowice-based office investment at Francuska 34, worth 50 millions Euro. The Francuska Office Center is to fill in the gap in the supply of A-class office spaces in the capital of Upper Silesia. Great location will make it the central point of the modern business district of the city concentrated along one of the main streets in Katowice.

  • GTC is to complete the first out of two buildings of the Francuska Office Center already in 2009
  • Over 21,500 sq m of A-class office space is being constructed in the emerging Katowice business district.

The modern complex of the Francuska Office Center will consist of two seven-storey A -class buildings. The office blocks comprising 11,000 and 10,500 sq m will be provided with a professional security system and an underground car park with for 400 cars. The developer is planning to complete the first building in a year.

– The demand for office spaces in Katowice is great, especially for class-A buildings. The Francuska Office Center will respond to market needs and upgrade the image of Katowice as the right place for business. What is more, it can also transform the part of the city along Francuska street – says Piotr Kroenke, GTC’s General Director.
– Katowice needs a place that would play the role of the city’s business district. Just as GTC’s investments in Warsaw’s Służewiec have transformed the factory and warehouse area into an office, retail and entertainment district, our office buildings in Francuska can change Katowice – adds Piotr Kroenke.

The Francuska Office Centre is being built in an ideal location for this type of an investment – close to the new seat of the Regional Court, public and cultural institutions as well as retail centers. Another advantage will be direct access from Francuska street, the vicinity of the Muchowiec airfield, A4 motorway, national road no. 86 connecting Warsaw and Bielsko-Biała as well as very good communication with the Kraków-Balice airport. Good transport connection with downtown Katowice, which is only 3 minutes away, will be provided by public transport.

– We want Katowice to have its business district similar to those in other cities we invest in. But to be called a business district such an area has to meet several conditions. Besides office buildings it needs to have public institutions, hotels, restaurants and retail parks. Very good communication is crucial here. In Katowice, Francuska street meets these conditions (neighbourhood of District Court, Silesian Library and building of Silesian Seym) and we hope that our investment, the two modern office blocks, will be a breakthrough – adds Piotr Kroenke.

The architectural concept prepared by the Warsaw-based APA Wojciechowski studio and Katowice-based STABIL assumes that GTC’s modern office complex will blend in with the adjacent Regional Court and be an integral part of the planned development of this part of Katowice. The Francuska Office Centre is based on a rectangular plan with some folds. The glazed facade will be completed with light stone panelling. High quality of the finishing elements will not only give the complex an attractive image but also access to natural light.

A typical floor in the A building will have 1,740 sq m, whereas in the B building – 1,600 sq m. The flexible design of the interior of each floor will allow one or more tenants to arrange the available office space either as an open space or in the form of separate rooms. Each floor will be fitted with tilt windows, air conditioning, suspended ceilings and floor carpets.

The general contractor is HOCHTIEF Polska, Kpis-Cracovia Branch, and the leasing of office space is the responsibility of international real estate market consultants: Cushman Wakefield and Knight Frank. The project is managed by Gleeds Polska Sp. z. o.o.

Katowice is one of seven Polish cities where GTC undertakes its investments. The company started its activity in the capital of Upper Silesia in 2006 with the purchase of plots of land at Francuska street, where the Francuska Office Centre is being built and at Mikołowska street, where an office and residential investment will be carried out.

Examples of GTC’s investments that have transformed their surroundings:

in Poland

Służewiec – Warsaw
A few years ago this was an industrial and warehousing district. Today, after a complete revival of this area, Służewiec is a place where the biggest property developers carry out their investments. GTC is building a complex of office buildings called Platinium Business Park.

Bronowice – Kraków
Armii Krajowej Street is getting a business image, with modern office buildings and banks emerging there. The district’s ambience is also created by GTC, with its three identical buildings – Galileo, Newton and Edison – seating such companies as IBM Business Consulting Services, Raiffeisen Bank Polska or Grupa Lotos.

Galeria Kazimierz – Kraków
In 2003 the company started construction works in the former meat processing plant. After thorough revitalisation of industrial land the developer created a unique project combining historical structures with modern architecture. In March 2005 GTC completed Krakow’s first modern retail and entertainment centre – Galeria Kazimierz. The company has started the construction of offices on an additional floor of Galeria Kazimierz, and in Q2 2009 the adjacent Kazimierz Office Center will be erected here.

in Europe:

Holesovice – Prague – Czech Republic
The Holesovice district located on the Vltava river is only a few minutes away from the centre of Prague. Thanks to the Prague Marina complex (three A-class office buildings owned by GTC), and its reputed tenants, the Holesovice area has become as important a part of the city as Downtown Prague.

Budapest – Hungary
Budapest’s Vaci Street is one of its most popular office locations. GTC, with its Center Point class-A office building, contributes to creating Vaci’s business image. The area of 41,000 sq m is leased by such reputed companies as Exxon Mobil, Raiffeissen Bank, Honeywell and Alianz Bank.

Bucharest – Romania
The areas around Piata Presei Libere in Bucharest, in the vicinity of the Sofitel hotel and the Romexpo exhibition centre are known as the most prestigious district in Romania’s capital city. GTC’s modern City Gate office complex is also located there. It is regarded as Bucharest’s business gate.