GTC obtains building permit for The Twist – Budapest City Tower

  • The Twist – Budapest City Tower, GTC’s premium office tower in Budapest, received a building permit;
  • The Twist will be the tallest building in Budapest providing highest quality office space in the new central office district in Budapest;
  • Total leasable area of the building will amount to 37,000 sq. m.

Right after completion of the GTC White House office project in Budapest, GTC is preparing to build another office landmark in the Hungarian capital – The Twist – Budapest City Tower. The new project is located in the 13th district in Budapest, which is rapidly becoming the new business quarter of the capital.

“GTC is taking advantage of the high demand for modern office space in Budapest and we are proud to be one of the leading developers bringing new high class office space to the market. The Twist with its brilliant architecture on its very unique location will certainly become a landmark building on the business map of Budapest, the construction permit for it is an important milestone of our operations in Hungary” – added Thomas Kurzmann, GTC’s CEO.

The Twist – Budapest City Tower will be a 23 floor tower of 37,000 sq. m GLA, perfectly located with direct access to the Subway. The project will be the most spectacular office buildings in town. It features unique architecture making the building literally to “twist” up to the sky. – Fantastic views over the City, super high office quality with all features of a top class green building will serve the future tenants needs.

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Creating value in Hungarian real estate – GTC White House is completed

GTC Hungary, the leading international office developer in Budapest, has completed its latest office building in the capital. The GTC White House is a brand new A-class office building of 21,500 sq. m. The state-of-the-art project features exhilarating, uplifting green architecture, including an entirely refurbished turn-of-the-century stand-alone loft building of 2,000 sq. m. The GTC White House has been awarded LEED Gold precertification, which is one of the world’s most prestigious international environmental certification.

GTC White House

The GTC White House office building is built on the site of former elevator factory located in the Váci Road office corridor. The project was launched in June 2016 in this important and popular location in Budapest. The development has a unique atmosphere by mixing the important past with a forward thinking future and is well received on the market and popular with tenants. The site includes part of the 100-year-old former Schlick Elevator Factory which has been entirely re­furbished and now offers an impressive 2,000 sq. m loft office space, and 19,500 sq. m of new premium quality offices.  The buildings are just a few minutes away from two metro stations and tram line No. 1, has its own garage for nearly 300 vehicles, electric car charging, car wash, several hundred bike racks with shower and changing facilities. Other facilities, include a play room, a conference suite, a post office and a new restaurant and coffee bar concept for the convenience of the tenants.

The environmentally friendly solutions, efficiency and stunning architecture has been the integral element of the architectural concept of GTC White House. The architect of the new complex is Ybl Prize winner Zoltán Tima of Kozti, who has been responsible for the design of large scale residential and office projects, as well as landmark projects such as Kossuth ter and the new extensions of Budapest Liszt Ferenc Airport. The General Contractor on the building is Swietelsky, Hungary and project financing is arranged through Raiffeisen Bank, Hungary.

The green roof, reuse of harvested rainwater, efficient insulation, and windows covered with a light-reflecting foil all serve to reduce energy consumption and make a sustainable building in the heart of the city. As a result of this approach, GTC White House has been awarded LEED Gold precertification. Buildings that have won LEED certification are not only environment-friendly, but their business prestige is also outstanding: the 100 largest companies listed by Fortune magazine, 88 operate from LEED-certified offices.

The recently completed GTC White House already has leased a significant part of the offices and the rest of the building has signed terms or is under offer. The first tenant: BlackRock, the world’s largest asset manager will take their first occupancy in July 2018. BlackRock chose Hungary and GTC White House as a permanent home for their Innovation and Technology Centre in Budapest.

GTC have signed terms for a further two floors of the new office area and is currently engaging in serious negotiations for the remaining vacant space with world class tenants, which predicts the possibility that the building will be 100% occupied by Q3 2018.

New Projects

Besides the completed new office, GTC Hungary has two other ongoing office real estate projects. Both of which are located in the 13th district in Budapest, which is rapidly becoming the new business quarter of the capital. The TwistBudapest City Tower will be a 23 Floor tower of 37,000 sq. m of leasable offices. The project will commence by July 2018 and is promising to be one of the most spectacular office buildings in the capital.

GTC Hungary’s other significant project; Pillar will offer 29,000 sq. m over 7 floors, is in a highly visible landmark location also in 13th District. Construction is expected to commence in Q3 2018. Both these new office projects will offer coffee shops, juice bar, restaurants, co-working spaces, bank and ATM, bike facilities, shopping, conference centre and many more features for the future tenants, creating real value in the Hungarian real estate market.

GTC’s portfolio in Hungary

With GTC White House, the Hungarian affiliate of the region’s leading commercial real estate developer GTC, extends its entire domestic office portfolio to 141,000 sq. m. GTC Hungary also owns and manages Budapest’s presently tallest office building; Duna Tower, Center Point Office, the capital largest office centre, GTC Metro and Spirál – all fully leased.


GTC distributes its M-series dividend shares

On its path of growth, GTC announces that it has paid dividend of 0.33 PLN per share. Eligible investors are recommended by the Management Board to subscribe for dividend in the form of shares. 4 funds holding 73% of GTC share capital have elected to receive shares and subscribed for 13.233.492 M series shares.

“We managed to secure attractive value for our shareholders thanks to our self-propelling growth, including expansion of our portfolio and strong refinancing activity in 2017. We are very satisfied that major shareholders decided to reinvest their dividend proceeds into new shares benefiting further from the growth that we offer. With acquisition of the Mall of Sofia in April this year and realization of the development pipeline, our FFO further increases and we are confident to provide additional dividend capacity by the end of 2018” – said Thomas Kurzmann, GTC’s CEO.

GTC’s Sterlinga Business Center sets an example in Łódź as the first BREEAM In-Use -certified office asset in the city at the “Excellent” level in two categories

  • GTC’s Sterlinga Business Center was granted In-Use BREEAM certificate with “Excellent” rating
  • The certificate was obtained in two categories: building performance (“Asset”) and quality of building management (“Management”)
  • Sterlinga Business Center is a class A office building in the center of Łódź offering 13,400 sq. m GLA

After several months of intensive preparation works, GTC Sterlinga Business Center has successfully gained In-Use BREEAM certificate for “Asset” and “Management” categories. Great efforts of GTC Sterlinga’s management team and the overall building’s environmental performance resulted in rating at “Excellent” level. It is the first office property in Łodź to receive such high notes for ecological standards in two categories.

“The positive results of the certification process were primarily influenced by the refined building management procedures, including the improved energy efficiency and the use of water-saving fittings. Points were awarded for excellent location of the complex and numerous amenities for tenants, such as terraces or a 24/7 service system for tenants’ requests. Our dedicated property management team, regularly checks the level of satisfaction among the building users and maintains an open dialog on continues improvements. Obtaining a high grade in both ‘Asset’ and ‘Management’ parts by Sterlinga Business Center, after acquiring the asset in 2016, confirms the effectiveness of GTC’s standards applied to office building management,” commented Justina Ivan, GTC Commercial Leasing Director.

Sterlinga Business Center is located 2 minutes away from stops of numerous bus and tram lines, as well as only 5 minutes away from the center of Łódź. The project offers 13,400 sq. m of modern office space on nine floors, and 180 parking spaces on two underground levels. Sterlinga office building is characterized by the highest functionality of the interior, e.g. maximum access to natural light. The unique façade of the building presents well-thought-out design combining glass, metal, stone and a high-quality plaster.

Most importantly, Sterlinga Business Center is distinguished by its complex solutions for minimizing environmental pollution, including implementation of environmental and purchasing policies. Thanks to specialized installations, the building’s users have individual control over lighting and air temperature in the workplace. During certification, the auditors also paid attention to the climatic conditions of the office building maintained not only through systematic preventive inspections, but also a series of tests verifying the state of the indoor air quality.

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