GTC with €291 mln loan for Galeria Północna

Centrum Światowida, a Globe Trade Centre's (GTC) subsidiary, has signed a €291 million credit agreement with commercial lender Pekao Investment Banking for the construction of commercial center Galeria Północna in Warsaw. Galeria Północna will have 64,000 sqm GLA and will be located in the Warsaw's district of Białołęka. GTC had earlier informed that it will start the construction immediately after getting a permission from the mayor of Warsaw. It was granted in June. The GTC Group is a leading real estate company in CEE and SEE, operating in Poland, Romania, Hungary, Croatia, Serbia, Bulgaria, and Slovakia. Additionally, it co-owns land in Ukraine and Russia and operates in the Czech Republic through its associates and joint ventures. The Group was established in 1994.