Globe Trade Center to spend $15 million in Wrocław
"Our expansion in Central and Eastern Europe has been very dynamic and we continuously search for more investment opportunities and are planning to enter new countries in the region," said Eli Alroy, the chairman of the supervisory board of Globe Trade Center.
GTC has continued this dynamic development with the recent signing of a conditional agreement with Orbis over the right of perpetual usufruct of a plot in the center of Wrocław. The land is thought to have cost zł.6 million. With the transaction and construction permits secured, GTC is planning to construct a 12,000 sqm, A-class office building on the plot. The new office building will be located in the neighborhood of Hotel Wrocław.
"Wrocław is one of the most attractive cities for this kind of investment," said Mariusz Kozłowski, a member of GTC management board. "According to real-estate consultancy reports, the percentage of vacant office space in Wrocław does not exceed five percent." Kozłowski went on to add that construction work should be completed by the end of next year.
At the same time GTC signed a deal with Orbis about the purchase of a 25-percent stake in Globis Poznań and Globis Wrocław, which is tied to the transfer of the usufruct deed. When the purchase of the Globis Poznań and Globis Wrocław stakes goes through, GTC will own 100 percent of the start up capital in both companies.
Wrocław is the fourth Polish city, after Warsaw, Poznań and Kraków, where GTC has made an investment.
M.L.
GTC has continued this dynamic development with the recent signing of a conditional agreement with Orbis over the right of perpetual usufruct of a plot in the center of Wrocław. The land is thought to have cost zł.6 million. With the transaction and construction permits secured, GTC is planning to construct a 12,000 sqm, A-class office building on the plot. The new office building will be located in the neighborhood of Hotel Wrocław.
"Wrocław is one of the most attractive cities for this kind of investment," said Mariusz Kozłowski, a member of GTC management board. "According to real-estate consultancy reports, the percentage of vacant office space in Wrocław does not exceed five percent." Kozłowski went on to add that construction work should be completed by the end of next year.
At the same time GTC signed a deal with Orbis about the purchase of a 25-percent stake in Globis Poznań and Globis Wrocław, which is tied to the transfer of the usufruct deed. When the purchase of the Globis Poznań and Globis Wrocław stakes goes through, GTC will own 100 percent of the start up capital in both companies.
Wrocław is the fourth Polish city, after Warsaw, Poznań and Kraków, where GTC has made an investment.
M.L.
