GTC S.A.

The GTC Group is a leading real estate investor and developer focusing on Poland and three capital cities in Central and Eastern Europe, with over 170 employees across the region. Since 1994 GTC has developed 66 high standard, modern office and retail properties with a total area of nearly 1.2 million sq. m through Central and Eastern Europe. GTC now actively manages a commercial real estate portfolio of 36 commercial buildings providing 614,000 sq. m of lettable office and retail space in Poland, Budapest, Bucharest, Belgrade and Zagreb. In addition, GTC has a development pipeline of 349,000 sq. m retail and office properties in capital cities of Central and Eastern Europe, thereof 110,000 sq. m under construction. GTC S.A. is listed on the Warsaw Stock Exchange and included in the WIG30 index and inward listed on the Johannesburg Stock Exchange. The company’s shares are also included in the Dow Jones STOXX Eastern Europe 300 Index.
Name of company GTC S.A.
Name of President or Managing Director for the region Thomas Kurzmann, CEO
President or Managing Director for the region profile Thomas Kurzmann is GTC’s CEO since 2014 and in May 2017, the Supervisory Board of GTC re-appointed him as President of the Management Board for a new 3-year term. His presidency is a time of GTC’s strategy shift. Following the successful completion of company’s capital increase, GTC is now realizing a growth strategy. Under his leadership, growing activity and improving results allowed the company to pay dividend in Q2 2017, which was another milestone in GTC’s growth momentum.
Description of company and team The GTC Group is a leading real estate investor and developer focusing on Poland and three capital cities in Central and Eastern Europe, with over 170 employees across the region. Since 1994 GTC has developed 66 high standard, modern office and retail properties with a total area of nearly 1.2 million sq. m through Central and Eastern Europe. GTC now actively manages a commercial real estate portfolio of 36 commercial buildings providing 614,000 sq. m of lettable office and retail space in Poland, Budapest, Bucharest, Belgrade and Zagreb. In addition, GTC has a development pipeline of 349,000 sq. m retail and office properties in capital cities of Central and Eastern Europe, thereof 110,000 sq. m under construction. GTC S.A. is listed on the Warsaw Stock Exchange and included in the WIG30 index and inward listed on the Johannesburg Stock Exchange. The company’s shares are also included in the Dow Jones STOXX Eastern Europe 300 Index.
Regions active in (in which countries the company operates) The GTC Group is a leading real estate investor and developer focusing on Poland and three capital cities in Central and Eastern Europe. The GTC Group is operating in Poland, Romania, Hungary, Croatia, Serbia and Bulgaria. Additionally, it holds land in Ukraine through its subsidiary. The Group was established in 1994 and has been present in the real estate market since then.
Portfolio of all properties currently held by your company In line with the adopted strategy, the GTC Group has continued to grow and has been successfully expanding the company’s portfolio. Currently, GTC manages real estate portfolio of 36 commercial real estate projects providing over 614,000 sq. m of high standard office and retail space. Furthermore, the company has 5 modern investments under construction (Artico, Advance Business Center, White House, Green Heart, Ada Mall) and 7 projects in the planning phases (City Rose Park, Advance Business Center II, Budapest City Tower, Kompakt, GTC X, Matrix, and Galeria Wilanów).
Office projects included in the portfolio Completed office projects:

• Neptun Office Center in Gdańsk, Poland
• Sterlinga Business Center in Łódź, Poland
• Pixel in Poznań, Poland
• Aeropark Business Centre (Zephirus, Nothus, Corius) in Warsaw, Poland
• University Business Park in Łódź, Poland
• Francuska Office Centre in Katowice, Poland
• Korona Office Complex (Galileo, Newton, Edison, Pascal) in Cracow, Poland
• Globis Poznań in Poznań, Poland
• Globis Wrocław in Wrocław, Poland
• City Gate in Bucharest, Romania
• Premium Point in Bucharest, Romania
• Premium Plaza in Bucharest, Romania
• Cascade Office Building in Bucharest, Romania
• Center Point in Budapest, Hungary
• Spiral in Budapest, Hungary
• Duna Tower in Budapest, Hungary
• Belgrade Business Center in Belgrade, Serbia
• GTC Metro in Budapest, Hungary
• GTC House in Belgrade, Serbia
• 19 Avenue in Belgrade, Serbia
• GTC Square in Belgrade, Serbia
• FortyOne I-III in Belgrade, Serbia
• Avenue Centre in Zagreb, Croatia
The value of office properties held by investor (in EUR) EUR 932 million (June 2016)
Retail projects included in the portfolio • Galeria Północna was opened in September 2017. The building offers over 64,000 sq. m of space. It is the first large-scale shopping center in the North district of Warsaw, Białołęka. The unique structural design features have made it one of the most eco-friendly buildings in its category in Poland, earning it a LEED GOLD precertification.
• Galeria Jurajska is the third retail and entertainment center built by GTC in Poland and the first modern facility of its type in Częstochowa, encompassing a total area of 130,000 sq. m.
• Avenue Mall Zagreb (34,300 sq. m) is an investment realized by GTC Croatia in New Zagreb district – one of the most attractive locations of the city.
• Ada Mall is an A-class shopping mall and the first GTC’s retail investment in Serbia. Ada Mall will be located in the biggest recreational area in Belgrade – making it one of the best located malls in Serbia. The new shopping mall will offer 34,400 sq. m GLA and is scheduled for completion in Q3 2018.
The value of retail properties held by investor (in EUR) close to EUR 600 million
Warehouse projects included in the portfolio N/A
The value of warehouse properties held by investor (in EUR) N/A
The largest purchase transactions between October 2016 and September 2017 (subject of the transaction, its total take up area and value in EUR) GTC acquired Belgrade Business Center office center, including three large retail units, located in the Belgrade’s well-established residential and commercial area. Belgrade Business Center, offers 17,900 sq. m with 307 parking lots. BBC has been developed with high standards, with an all-glass attractive façade. The project is one of the most modern office buildings not only in Belgrade but in the whole Serbia. Transaction value amounted to EUR 37 million.
Future plans GTC has today 5 projects under construction and 7 projects in the planning stage that will boost income generating portfolio by 0.4 million sq. m GLA from 2017 to 2020:

• Artico office center in Warsaw, under construction
• Advanced Business Center office building in Sofia, under construction
• GTC White House office center in Budapest, under construction
• Green Heart shopping center in Belgrade, under construction
• Ada Mall shopping center, under construction
• City Rose Park office center in Bucharest, planned
• Advanced Business Center II office building in Sofia, planned
• Budapest City Tower office center in Budapest, planned
• Kompakt office center in Budapest, planned
• GTC X office center in Belgrade, planned
• Matrix office center in Zagreb, planned
• Galeria Wilanów shopping mall in Warsaw, planned

More completions in Budapest and Belgrade planned for 2018 will further strengthen GTC’s yielding retail and office portfolios and contribute to rent income and NAV growth.
The value of the funds for the investment, whether the investor is permanently established in countries in the region, the number of employees The investor is permanently established in the region, 172 employees.
Acquisition activity across the CEE real estate markets between October 2016 and September 2017 • Acquisition of Belgrade Business Center in Belgrade, with transaction value of EUR 37 million, a modern high-standard office center in Belgrade’s central business district offering 17,900 sq. m GLA.
• Acquisition of Cascade Office Building in Bucharest, with transaction value of EUR 9 million from Adval Properties in Q2 2017. Cascade Office Building is an A-class office building developed by Cascade Group in Romania, located in the heart of the central business district. Cascade Office offers 4,200 sq. m of lettable area and following the transaction GTC portfolio increased to 37 projects and a leasable area of 665,000 sq. m.
• Acquisition of land for a development of Kompakt office center in Budapest, offering premium office space of 29,000 sq. m GLA. The total investment cost is EUR 64 million, expected NOI EUR 5.6 million.
• Acquisition of 150,000 sq. m land in Bucharest for EUR 10.5 million from Bluehouse Capital. GTC plans to build City Rose Garden office center on the plot, planned delivery is scheduled for 2019/2020. City Rose Garden will be a complex of three office buildings, of 46,000 sq. m GLA. Total estimated cost of investment is EUR 89 million, expected NOI EUR 9 million.
• Acquisition of land in Sofia for a development of Advance Business Center and Advance Business Center II. The land for Advance Business Center offers 14,200 sq. m GLA, expected to be completed in 2019. Advance Business Center II offers 15,200 sq. m and is planned to be completed in 2019/2020. Both buildings will have an exquisite location at the entrance to the Business Park Sofia, the largest office park in Southeastern Europe. Total investment cost of ABC is EUR 26 million, expected NOI EUR 2.3 million. Total investment cost of ABC II is EUR 28 million, expected NOI EUR 2.6 million.
Why the company deserves the award (in a paragraph you can describe the specific achievements of the company) GTC’s focuses on a robust acquisition activity on the thriving markets of CEE region that provide substantial opportunities for development of large modern office and retail projects. The company’s activities resulted in the accretive acquisition opportunities of approx. EUR 200 million of income generating assets and development land in various stages of negotiations. GTC’s growth strategy drives FFO I, that provides for growing dividend potential. Thanks to the expansion of the company’s operations and development, as well as results achieved in 2016 (13% FFO I growth improvement to EUR 43 million from EUR 38 million in 2015) Strong per share performance proved solid value creation for the company’s shareholders and GTC was allowed to recommend PLN 0.27 per share, which translates into 3.3% dividend yield.
Company website www.gtc.com.pl
Name of company
GTC S.A.
Name of President or Managing Director for the region
Thomas Kurzmann, CEO
President or Managing Director for the region profile
Thomas Kurzmann is GTC’s CEO since 2014 and in May 2017, the Supervisory Board of GTC re-appointed him as President of the Management Board for a new 3-year term. His presidency is a time of GTC’s strategy shift. Following the successful completion of company’s capital increase, GTC is now realizing a growth strategy. Under his leadership, growing activity and improving results allowed the company to pay dividend in Q2 2017, which was another milestone in GTC’s growth momentum.
Description of company and team
The GTC Group is a leading real estate investor and developer focusing on Poland and three capital cities in Central and Eastern Europe, with over 170 employees across the region. Since 1994 GTC has developed 66 high standard, modern office and retail properties with a total area of nearly 1.2 million sq. m through Central and Eastern Europe. GTC now actively manages a commercial real estate portfolio of 36 commercial buildings providing 614,000 sq. m of lettable office and retail space in Poland, Budapest, Bucharest, Belgrade and Zagreb. In addition, GTC has a development pipeline of 349,000 sq. m retail and office properties in capital cities of Central and Eastern Europe, thereof 110,000 sq. m under construction. GTC S.A. is listed on the Warsaw Stock Exchange and included in the WIG30 index and inward listed on the Johannesburg Stock Exchange. The company’s shares are also included in the Dow Jones STOXX Eastern Europe 300 Index.
Regions active in (in which countries the company operates)
The GTC Group is a leading real estate investor and developer focusing on Poland and three capital cities in Central and Eastern Europe. The GTC Group is operating in Poland, Romania, Hungary, Croatia, Serbia and Bulgaria. Additionally, it holds land in Ukraine through its subsidiary. The Group was established in 1994 and has been present in the real estate market since then.
Portfolio of all properties currently held by your company
In line with the adopted strategy, the GTC Group has continued to grow and has been successfully expanding the company’s portfolio. Currently, GTC manages real estate portfolio of 36 commercial real estate projects providing over 614,000 sq. m of high standard office and retail space. Furthermore, the company has 5 modern investments under construction (Artico, Advance Business Center, White House, Green Heart, Ada Mall) and 7 projects in the planning phases (City Rose Park, Advance Business Center II, Budapest City Tower, Kompakt, GTC X, Matrix, and Galeria Wilanów).
Office projects included in the portfolio
Completed office projects:

• Neptun Office Center in Gdańsk, Poland
• Sterlinga Business Center in Łódź, Poland
• Pixel in Poznań, Poland
• Aeropark Business Centre (Zephirus, Nothus, Corius) in Warsaw, Poland
• University Business Park in Łódź, Poland
• Francuska Office Centre in Katowice, Poland
• Korona Office Complex (Galileo, Newton, Edison, Pascal) in Cracow, Poland
• Globis Poznań in Poznań, Poland
• Globis Wrocław in Wrocław, Poland
• City Gate in Bucharest, Romania
• Premium Point in Bucharest, Romania
• Premium Plaza in Bucharest, Romania
• Cascade Office Building in Bucharest, Romania
• Center Point in Budapest, Hungary
• Spiral in Budapest, Hungary
• Duna Tower in Budapest, Hungary
• Belgrade Business Center in Belgrade, Serbia
• GTC Metro in Budapest, Hungary
• GTC House in Belgrade, Serbia
• 19 Avenue in Belgrade, Serbia
• GTC Square in Belgrade, Serbia
• FortyOne I-III in Belgrade, Serbia
• Avenue Centre in Zagreb, Croatia
The value of office properties held by investor (in EUR)
EUR 932 million (June 2016)
Retail projects included in the portfolio
• Galeria Północna was opened in September 2017. The building offers over 64,000 sq. m of space. It is the first large-scale shopping center in the North district of Warsaw, Białołęka. The unique structural design features have made it one of the most eco-friendly buildings in its category in Poland, earning it a LEED GOLD precertification.
• Galeria Jurajska is the third retail and entertainment center built by GTC in Poland and the first modern facility of its type in Częstochowa, encompassing a total area of 130,000 sq. m.
• Avenue Mall Zagreb (34,300 sq. m) is an investment realized by GTC Croatia in New Zagreb district – one of the most attractive locations of the city.
• Ada Mall is an A-class shopping mall and the first GTC’s retail investment in Serbia. Ada Mall will be located in the biggest recreational area in Belgrade – making it one of the best located malls in Serbia. The new shopping mall will offer 34,400 sq. m GLA and is scheduled for completion in Q3 2018.
The value of retail properties held by investor (in EUR)
close to EUR 600 million
Warehouse projects included in the portfolio
N/A
The value of warehouse properties held by investor (in EUR)
N/A
The largest purchase transactions between October 2016 and September 2017 (subject of the transaction, its total take up area and value in EUR)
GTC acquired Belgrade Business Center office center, including three large retail units, located in the Belgrade’s well-established residential and commercial area. Belgrade Business Center, offers 17,900 sq. m with 307 parking lots. BBC has been developed with high standards, with an all-glass attractive façade. The project is one of the most modern office buildings not only in Belgrade but in the whole Serbia. Transaction value amounted to EUR 37 million.
Future plans
GTC has today 5 projects under construction and 7 projects in the planning stage that will boost income generating portfolio by 0.4 million sq. m GLA from 2017 to 2020:

• Artico office center in Warsaw, under construction
• Advanced Business Center office building in Sofia, under construction
• GTC White House office center in Budapest, under construction
• Green Heart shopping center in Belgrade, under construction
• Ada Mall shopping center, under construction
• City Rose Park office center in Bucharest, planned
• Advanced Business Center II office building in Sofia, planned
• Budapest City Tower office center in Budapest, planned
• Kompakt office center in Budapest, planned
• GTC X office center in Belgrade, planned
• Matrix office center in Zagreb, planned
• Galeria Wilanów shopping mall in Warsaw, planned

More completions in Budapest and Belgrade planned for 2018 will further strengthen GTC’s yielding retail and office portfolios and contribute to rent income and NAV growth.
The value of the funds for the investment, whether the investor is permanently established in countries in the region, the number of employees
The investor is permanently established in the region, 172 employees.
Acquisition activity across the CEE real estate markets between October 2016 and September 2017
• Acquisition of Belgrade Business Center in Belgrade, with transaction value of EUR 37 million, a modern high-standard office center in Belgrade’s central business district offering 17,900 sq. m GLA.
• Acquisition of Cascade Office Building in Bucharest, with transaction value of EUR 9 million from Adval Properties in Q2 2017. Cascade Office Building is an A-class office building developed by Cascade Group in Romania, located in the heart of the central business district. Cascade Office offers 4,200 sq. m of lettable area and following the transaction GTC portfolio increased to 37 projects and a leasable area of 665,000 sq. m.
• Acquisition of land for a development of Kompakt office center in Budapest, offering premium office space of 29,000 sq. m GLA. The total investment cost is EUR 64 million, expected NOI EUR 5.6 million.
• Acquisition of 150,000 sq. m land in Bucharest for EUR 10.5 million from Bluehouse Capital. GTC plans to build City Rose Garden office center on the plot, planned delivery is scheduled for 2019/2020. City Rose Garden will be a complex of three office buildings, of 46,000 sq. m GLA. Total estimated cost of investment is EUR 89 million, expected NOI EUR 9 million.
• Acquisition of land in Sofia for a development of Advance Business Center and Advance Business Center II. The land for Advance Business Center offers 14,200 sq. m GLA, expected to be completed in 2019. Advance Business Center II offers 15,200 sq. m and is planned to be completed in 2019/2020. Both buildings will have an exquisite location at the entrance to the Business Park Sofia, the largest office park in Southeastern Europe. Total investment cost of ABC is EUR 26 million, expected NOI EUR 2.3 million. Total investment cost of ABC II is EUR 28 million, expected NOI EUR 2.6 million.
Why the company deserves the award (in a paragraph you can describe the specific achievements of the company)
GTC’s focuses on a robust acquisition activity on the thriving markets of CEE region that provide substantial opportunities for development of large modern office and retail projects. The company’s activities resulted in the accretive acquisition opportunities of approx. EUR 200 million of income generating assets and development land in various stages of negotiations. GTC’s growth strategy drives FFO I, that provides for growing dividend potential. Thanks to the expansion of the company’s operations and development, as well as results achieved in 2016 (13% FFO I growth improvement to EUR 43 million from EUR 38 million in 2015) Strong per share performance proved solid value creation for the company’s shareholders and GTC was allowed to recommend PLN 0.27 per share, which translates into 3.3% dividend yield.
Company website
www.gtc.com.pl

Main Sponsor