GTC's perfect 10

One of the leading developers in Central and Eastern Europe (CEE), Globe Trade Center (GTC), will spend EUR 500 million on investments in CEE real estate in 2006-2008. The company plans to launch 500,000 sqm of space, the bulk of it being commercial.

The plans will be developed on the six markets of the region where GTC is already present, i.e. Poland, the Czech Republic, Romania, Serbia, Croatia, and Hungary. The company also plans to enter the Bulgarian, Slovakian and Ukrainian markets.

In the next two years GTC plans to complete 10 investments in Poland. The general director of GTC, Piotr Kroenke, told Parkiet daily that the new projects will include the Okęcie Business Park office complex in Warsaw, and a hotel in Kraków.

GTC's new strategy will be developing projects via joint ventures with its business partners. This system has already been used by GTC in the case of Galeria Mokotów in Warsaw, where 50 percent of shares belongs to Dutch firm Rodamco.

Last year GTC invested approximately EUR 100 (zł.377) million and completed 75,000 sqm of total space. (Reuters)