GTC expands into Ukraine

Globe Trade Centre (GTC) has announced its first venture in Ukraine as well as the acquisition of a 10-percent share in Tel Aviv-based real estate company Europort. GTC's Ukrainian subsidiary, GTC Real Estate Investments Ukraine (GTC REIU), will develop a mixed-use project in Odessa in cooperation with Europort. GTC REIU holds a 49.99-percent stake in the venture, with Europort holding the remaining shares. At the same time, another GTC subsidiary purchased a 10-percent stake in Europort and could increase that stake to 20 percent.