• French hypermarket chain has signed lease agreement in Galleria Arad
• Reserved, House of Art, Leonardo, Sprider and Cinema City also signed leases
• Galleria Arad to open in Q4 2011
Galleria Arad, which is scheduled to open doors in the last quarter of 2011, will offer one of the most important hypermarket chain besides variety of well-established national and international fashion brands.
Romania Hypermarche decided to open a 9.000 sqm Cora hypermarket in Galleria Arad as the first shop in the city.
“We are very happy to start a long term collaboration with one of the most professional and respected hypermarket chain, Cora. We are very happy to announce that we will move this collaboration to other projects of GTC as well. With this partnership, we believe Galleria Arad will become much stronger and we continue to introduce to Arad community more brands in a close time” – Shimon GALON, CEO of GTC Romania said.
Reserved, Sprider, Leonardo, House of Art, Fox, Cinema City, Tina R, Altex and many other brands already become a part of Galleria Arad. The mall is already over 60% leased and GTC is in negotiations with several other important international fashion brands and also attracts the interest of local retailers.
Galleria Arad is consisting about 33,000 sqm leasable area with an investment of 70 million Euro. The project is financed by the European Bank for Reconstruction and Development.
The Mall is located on the main artery of the town with a dense populated area, on Aerel Vlaicu Street. With its location, tenant mix and architectural features, Galleria Arad aims to be the main attraction of the city.
GTC Romania entered retail market in partnership with Aura Investments for developing ‘Galleria’ international chain of shopping malls. GTC holds 85% of shares in Galleria Arad while Aura Investments holds another 15%. The ‘Galleria’ brand is the name under which GTC develops the shopping and entertainment centers in Central and Eastern Europe and now in Romania and Bulgaria. Besides Galleria Arad, GTC Romania owns three more shopping centers under operation in Buzau, Suceava and Piatra Neamti. GTC Romania has another shopping center project in pipeline in Galati and the construction works of the project will start by next year.
GLOBE TRADE CENTRE S.A. (GTC S.A.) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine.
GTC develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centers and residential sector.
GTC has developed about 750 000 sqm of net space and currently is the owner of completed commercial property with a combined net area of about 455 000 sqm. GTC also holds an impressive portfolio of investment at various stages of development which will facilitate the construction of 1.8 million sqm of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.
GTC’s shares are listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company’s assets are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index which comprises the 250 biggest and most liquid real estate companies of the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.