GTC invests over EUR 160m in offices in Budapest

  • GTC acquires the Ericsson Headquarters and the Siemens Evosoft Headquarters office buildings in Budapest.
  • The acquisition of two unique A‑class office buildings occupied by triple A tenants is an excellent opportunity to continue the growth of GTC.
  • The acquisition is in line with the strategy to refresh developer’s portfolio to newer, more modern and green office buildings in the CEE region.

GTC, a leading developer and asset manager in Central and Eastern Europe, has decided to boost its Hungarian portfolio again by investing EUR 160 million in the acquisition of two office properties in Budapest: the Ericsson Headquarters and the Siemens Evosoft Headquarters. The acquisition of two unique A-class office buildings occupied by triple-A tenants is an excellent opportunity to continue GTC’s growth. Both buildings have LEED Gold green certification. The transaction is in line with GTC’s strategy of refreshing its portfolio to newer, more modern buildings and focus exposure on office developments in the CEE region as well as fulfil the policy of investing in projects which comply with eco-friendly standards.

Having purchased the Váci Greens D office building, GTC continues its excellent streak of seizing new opportunities by acquiring two assets in Budapest. The new acquisition complements the existing portfolio of modern, eco-friendly office properties in the Hungarian capital confirming the company’s dedication to operate green, quality projects on the CEE markets.

Both buildings are conveniently located in the southern part of Buda on the Danube riverbank. One of the most modern office buildings in Hungary, the Ericsson Headquarters comprises 21,100 sq. m of A-class lettable space, including high-tech and high-end finishes and solutions contained in offices, laboratory, canteen and 500 underground parking places. This fully-leased building is home to one of the Swedish company’s largest R&D centres. It was also awarded the LEED ‘Gold’ certification confirming pro-environmental solutions applied to meet various needs of the tenant.

On the other hand, the Siemens Evosoft Headquarters office building is WING’s newest property development project delivered in late 2020. It brings 20,700 sq. m of modern space housing research and development functions and providing employees with a sustainable 21st-century working environment. It is fully leased and LEED Gold certified. The new acquisitions are an embodiment of GTC’s policy of investing in projects complying with the highest environmental, social and governance standards.

“We strive to develop and acquire buildings that meet the highest environmental standards while blending seamlessly into the urban fabric and creating local landmarks. We are thrilled to see them project their image not only on their immediate surroundings but also reach much further shaping their entire neighbourhoods. Acquisition of the Ericsson Headquarters and the Siemens Evosoft Headquarters will complement and further boost our green office portfolio in CEE. Those two properties with a combined NOI of EUR 8.9 million will contribute significantly to our FFO generation. We aim to finance the acquisition with our own funds combined with bank financing and green bonds issued in late 2020 and early 2021.” – commented Ariel Ferstman, CFO at GTC.   

Currently, the rich office portfolio of GTC Hungary comprises six office assets, including Duna Tower, Váci Greens D, Center Point I and II, and GTC Metro. The company is also developing Pillar, an extraordinary development that will offer 29,000 sq. m of office space. It has been fully rented before its commissioning scheduled for Q1 2022 and will become the headquarters of ExxonMobile.

Just Breathe – GTC celebrates Earth Day in Poland

  • On April 22-23rd, GTC celebrates Earth Day in all its Polish offices.
  • The Just Breathe campaign focuses celebrations on the importance of air quality.
  • Each of the GTC’s offices will receive an air-cleansing plant to improve air quality in the workspace. Tenants may make use of seeds available at the reception desks.
  • Additionally, e-waste collection and herbarium for tenants will be arranged in all properties.

To celebrate Earth Day, GTC encourages its employees and tenants to be active together. On April 22nd and 23rd, the company organizes a green Earth Day campaign to raise awareness of air quality and promote pro-ecological habits. As a part of the campaign, the developer will distribute air purifiers and collect e-waste from all office buildings located in Poland. The goal is to encourage people to return to offices that are greener and friendlier. The company has not forgotten about employees who work remotely by preparing a special video on plant care.

Between April 22nd and April 23rd, GTC will celebrate Earth Day under the Just Breathe motto in all its office properties in Poland. Due to the cooperation with Rośliny duet, each tenant will receive special plants, which fill the interior with more oxygen. In addition to that, the developer encourages tenants to install KANAREK App to track air quality. In this way, they can check how plants can improve air quality within closed spaces. But that’s not all – GTC also distributes seeds along with video tutorial to tenants, so that they can improve air quality in their homes during remote working. Finally, in all office premises, special containers have been installed so that workers could easily dispose of their e-waste.

“As the developer, we want to ensure the best possible working conditions, based on principles of well-being and sustainability. “Just Breathe” is not a randomly chosen name. As Dr. Joy Manne said, “Everything we do and everything we are begins with our breath”. We want to remind our communities how important it is to take care of the quality of the air we breathe, by improving our natural surroundings and changing our daily habits. If we, as a developer, can make the environment in our offices greener and encourage our tenants to do the same in their own spaces, in the long run, our common actions can bring a positive change. – commented Grzegorz Strutyński, GTC’s Country Manager in Poland.

Aeropark Business Center in Warsaw takes celebrations a step further. On Earth Day, GTC will invite Aeropark tenants to create a herbarium together and, together with the Łąka Foundation, will provide them with fresh herbs throughout the year. One of Aeropark’s tenants, Fiskars Gruop, is also particularly involved in the initiative, and provide tools for growing beds. The action takes place with all safety measures observed. Apart from that, starting from April 23rd, Aeropark residents can enjoy newly opened Revelo bike-sharing. With Revelo bikes, the developer hopes to introduce cycling to work as a new positive eco-habit.

“By sending out air-purifying plants, running e-waste collection, distributing seeds and installing bikes in our properties, we want to remind our tenants that pro-environmental solutions can be simple, yet effective. We want to show our tenants that, despite the pandemic, offices are an attractive and safe space to return to under the sanitary regime” – added Strutyński.

Globe Trade Center has been consistently developing its sustainability strategy, and Earth Day celebrations are just one example of it. In 2020, GTC has issued 792 green bonds with a total value of approx. EUR 110 mln. On top of that, all GTC projects in Poland have eco certificates (LEED, BREEAM), while 84% of developer’s properties in CEE received green certification.

Rompetrol extends lease agreement in City Gate

  • KMG Rompetrol, Romanian oil company, extends its lease at GTC’s City Gate until the end of 2026.
  • The tenant will occupy 9,356 sq m of modern office space.
  • City Gate is an A-class office complex with a total leasable area of 48,000 sq m.
  • This is the 1st transaction under the new Managing Director and asset management company CEE Estate.

GTC has renewed its lease agreement with KMG Rompetrol – management and support services division of the KMG International Group – one of the key players in the fuel sector in southeastern Europe, for another five years. KMG Rompetrol will continue to occupy 9,356 sq m of its headquarters in City Gate, a modern A-class office building located in Bucharest. This is the first transaction completed under the guidance of Ziv Gigi, recently appointed Managing Director of GTC’s operations in Romania, and CEE Estate, an asset management company.

KMG Rompetrol, part of an international oil company with operations in Romania, Moldova, Bulgaria, Georgia and the upstream area, has decided to prolong its lease for 9,356 sq m of modern office space in the northern tower of the City Gate complex until December 2026. The property is located in a prestigious part of Bucharest’s business district and consists of two buildings offering almost 48,000 sq m of high-quality office space in total.

 We always appreciate the trust our business partners have in the excellency of services offered in our properties. KMG Rompetrol is a company that develops dynamically in Romania and beyond, paying close attention to ensuring the best working conditions for their employees. We are happy that such a reputable company stays loyal to the quality of our services, especially during the turbulent times of the pandemic. This agreement has proven yet again that our strategy of maintaining quality partnerships and long-term cooperation with our tenants is mutually beneficial. I would also like to recognize the CEE Estate asset management team, whose efforts and dedication throughout the negotiation process resulted in our first mutual success” says Ziv Gigi, Managing Director for GTC’s operations in Romania.

City Gate is a high-end office building located in the North of Bucharest, with easy access to business and recreational facilities grouped around the Herăstrău Park and office hubs like Piața Victoriei. The facility offers 48,000 sq m of modern office space, tailored to suit various tenants’ needs. Served directly by a bus and a tram line, the property offers approx. 1,000 underground parking spaces. Tenants are invited to recreate between the City Gate Towers office building within the Plaza premise. The Plaza provides a moment of tranquility for tenants and visitors, who can relax in one of the lobbies, arranged in a matching urban design. The upper floors of City Gate offer an exceptional view of Herastrau Park, where one can enjoy lunch or have a coffee break in the sky-bar and restaurant.

GTC’s Green Heart is LEED certified

  • In February 2021, the N3 building in the Green Heart complex has obtained LEED Gold certificate. 
  • The five A-class buildings provide 46,300 sq m of high-tech office space embedded in an eco-friendly environment. 
  • Completed in 2020, the Green Heart complex is the most modern campus-like office site in Belgrade, Serbia. 

The Green Heart office complex consists of five A-class offices occupying 46,300 sq m state-of-art space, designed with the environment and tenant comfort in mind. In February 2021, the Green Heart’s building N3 has received the LEED Gold certificate for its ecological excellence, thus finalizing the certification process for the whole complex. 

Green Heart is an office project located on the corner of Milutin Milanković Boulevard and Boulevard of Art, in New Belgrade, Serbia. It includes two revitalized buildings (GTC Square) and three new ones, creating the campus-style office park. Now the whole complex is fully LEED certified, proving its function to serve as a green oasis in the busy capital of Serbia. 

Completing the process of LEED certification for Green Heart is an important achievement on GTC’s sustainable agenda. It is our firm belief that highly efficient energy-saving solutions, renovable energy, recycling-stations, accessibility instalments are must-have elements of any modern property and the Green Heart project fully proves our approach. Thanks to the hard work of our team, each square meter of the N3 building and the whole Green Heart is tailored to suit individual needs of the tenant while addressing the environmental challenges” – commented Pedja Petronijevic, GTC’s Country Manager in Serbia. 

The Green Heart complex is distinguished by unique architecture and energy-saving elements such as smart lighting or air conditioning systems to meet the most exorbitant tenants’ expectations and adjust to individual requirements. Solar panels have been installed on the roof of the Green Heart N3 building to deliver the most accurate energy-saving measures. The facility is highly accessible, as it is adjusted to wheelchairs. Besides, Green Heart developments are made up of large glass windows, allowing tenants to enjoy the peaceful view of the green courtyard from each of the spacious terraces. The complex provides an extensive entertainment offer that includes a spacious restaurant and sport bars. These attractions allow employees to improve their office experience to the next level of satisfaction. 

Ziv Gigi appointed as Managing Director for GTC’s operations in Romania

GTC, a leading developer and asset manager in Central and Eastern Europe, has announced the promotion of Ziv Gigi to the position of Managing Director Romania. He will be responsible for all operations of GTC in the Romanian market.

Ziv Gigi has more than 15 years of experience in Central and Eastern European real estate markets, developing and operating dozens of projects in office and Retail space. Ziv expertise covers the spectrum of a real estate development, sales and acquisitions, to include ideation, identification, realization, and ongoing operations. In addition, his previous tenure as the CFO of GTC’s operations in Bulgaria, Romania and Serbia provided him with all the financial acumen needed to successfully execute and support the company’s strategic direction.

“I’m excited for this new opportunity with GTC. Romania is a dynamic and promising strategic location for the company’s development and growth. My deep knowledge of real estate sector and years of experience in this market will support GTC in realizing brand-new projects and implementing operational excellence” – commented Ziv Gigi, Managing Director of GTC in Romania.

“Throughout his time in GTC, Ziv has consistently shown exemplary performance, doing above and beyond what is expected of him. I am thrilled to welcome him as the Managing Director in Romania and confident that his expertise in CEE real estate markets coupled with his dedication will propel our company’s success” added Yovav Carmi, the President of the Management Board at GTC.

Apart from his impressive expertise in development and Asset management, Ziv Gigi is a certified public accountant (CPA) with over a decade of financial management experience specializing in capital raising and strategic planning. In the past, Ziv worked as an auditor for Ernst & Young Israel, and as a financial manager for a private developers in Hungary and Turkey.