GTC Serbia, part of the GTC S.A. Group, one of the leading commercial real estate companies in Central, Eastern and Southern Europe, has broken ground at “Fortyone” class A office complex, its newest investment in Belgrade, capital of Serbia.
On 1st October 2014, GTC conducted an official ground breaking ceremony for its newest project in Serbia – the class-A Fortyone office complex – with the presence of Sinisa Mali, Mayor of the city of Belgrade, and Thomas Kurzmann, GTC’s Chief Executive Officer.
“We are very satisfied with the performance of our existing office portfolio in Belgrade. Pretty strong tenants’ demand, beyond availability of space, is supporting our decision to start construction of the new office building. We are proud to say that the first building of the Fortyone office complex is 60% preleased before the first shove was put in to the ground.” – said Thomas Kurzmann, GTC’s CEO.
Fortyone office complex will add over 27,000 sq m of class A office space to the market, in three separate phases. The first building will offer its tenants approx. 10,000 sq m. The building, featuring raised floors and offering flexible floor division, will allow its tenants to efficiently plan their office space and to create comfortable work environment for their employees. Phase one of the investment is planned for completion in the third quarter of 2015.
“We are proud to be able to deliver the first office building in Serbia designed and constructed in accordance with LEED Gold standards. It will provide the highest standard of office environment in combination with low energy consumption and optimized operating expenses. Additionally, it will be the first complex larger than 5,000 sq m to be delivered in Belgrade during the last 5 years.” – added Thomas Kurzmann.
Fortyone will be located in the prominent corner of New Belgrade, at the intersection of Milutina Milankovica Boulevard and Umetnosti Boulevard, a place both close to center of the city and the airport, as well as one conveniently connected with the main highway. For the convenience of the tenants, the building will offer close to 500 ground and underground parking places. Each of the buildings will include retail facilities to improve the working environment of the its tenants.
The GTC Group, established in 1994, is one of the leading commercial real estate companies in Central, Eastern and Southern Europe. The Group operates in Poland, Romania, Hungary, Croatia, Serbia, Bulgaria, Slovakia and Czech Republic.
GTC develops and actively manages real estate portfolio in two sectors of the market: office buildings and retail centres. Since its establishment, the Group has developed 43 office buildings and 12 shopping malls with a total net space amounting to more than 1 million sq m. GTC currently manages 28 commercial real estate projects with a total commercial space of over 589,000 sq m.
GTC S.A. is listed on Warsaw Stock Exchange on WIG30 index. The company’s shares are also included in the international indexes: Dow Jones STOXX Eastern Europe 300 index, GPR 250, which comprises the 250 largest and most liquid real estate companies of the world and the FTSE EPRA/NAREIT Emerging Index.