GTC is accelerating its investment in residential market in Romania. 700 apartments in two projects to be developed in Bucharest.

Globe Trade Centre S.A., through its subsidiary GTC Romania is starting two large residential projects in Bucharest.

First project called Green Dream Residence will be developed in attractive location in the northern part of the city next to Crowne Plaza Hotel and a prestigious country club. It is surrounded by parks and lakes which are popular leisure and recreation centre of Bucharest.

19,000 sq.m. of gross area and 7,600 sq.m. of underground parking will be constructed on a 1.1 hectare site. This high-end residential complex will comprise 150 to 175 apartments in 6-7 buildings, protected by 24-hours security.

The construction is planned to commence in Q1 2006, however due to strong interest in this project reservations have been already made by first clients.

The second project named Jasmine Park is going to be developed on a 2.6 hectare site in North-western part of Bucharest, in a popular residential district, close to the main road connecting to the city centre. Development program provides for construction of 60,000 sq.m. of built area above the ground. This modern residential community will contain approx. 500 apartments addressed mainly to the middle class.

These two projects mark impressive start of GTC residential developments in Bucharest.

Housing sector in Bucharest is experiencing accelerated growth resulting from increased demand stimulated by improving availability and affordability of mortgage lending, strong economic growth in Romania (8.3% in 2004) and increased purchasing power of Bucharest residents.

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