NAME OF COMPANY
Globe Trade Center
NAME OF PRESIDENT OR MANAGING DIRECTOR FOR POLAND
Thomas Kurzmann
PRESIDENT OR MANAGING DIRECTOR FOR POLAND PROFILE
Thomas Kurzmann is GTC’s CEO since 2014, re-appointed by the Supervisory Board of GTC for a new 3-year term in May 2017. Thomas is a visionary who can foresee trends and take right decisions to meet the needs of potential tenants on a very specific commercial real estate market. During his presidency, GTC became the first Polish inward listed company on the main board of the Johannesburg Stock Exchange (JSE). Under Thomas’s rule GTC keeps growing, successfully expanding its solid portfolio.
PORTFOLIO OF ALL COMPLETED PROPERTIES CURRENTLY HELD BY YOUR COMPANY
Ada Mall – 34,200 sq m – EUR 136m
Galeria Jurajska – 48,700 sq m - EUR 198m
Galeria Północna – 64,800 sq m - EUR 312m
Avenue Mall (Zagreb) – 27,600 sq m - EUR 105m
Mall of Sofia – 22,400 sq m - EUR 98m
Value for Avenue Mall includes Avenue Centre, Mall of Sofia includes Sofia Tower.
MARKET VALUE OF PROJECTS CURRENTLY HELD BY COMPANY (in EUR)
EUR 849m = sum of above values
SIZE OF PROJECTS CURRENTLY HELD BY COMPANY (GLA)
198 000 sq m
PROJECTS COMPLETED BETWEEN OCTOBER 2009 AND SEPTEMBER 2019
Galeria Jurajska (2009) – 48,700 sq m
Galerie Harfa (2010) – 41,500 sq m
Galleria Stara Zagora (2010) – 21,000 sq m
Avenue Osijek (2011) – 28,500 sq m
Galleria Arad (2011) – 35,700 sq m
Galleria Burgas (2012) – 36,300 sq m
Galeria Północna (2017) – 64,800 sq m
Ada Mall (2019) – 34,200 sq m
MARKET VALUE OF PROJECTS COMPLETED BETWEEN OCTOBER 2009 AND SEPTEMBER 2019 (in EUR)
Data unavailable as some of the projects were sold to third parties. Therefore the value is not known (above 800 m euro)
SIZE OF PROJECTS COMPLETED BETWEEN OCTOBER 2009 AND SEPTEMBER 2019 (GLA)
311,000 sq m
PROPERTIES SOLD BETWEEN OCTOBER 2009 AND SEPTEMBER 2019
Galeria Mokotów (2011- 50%, 2003- 50%) – 62,100 sq m
Galeria Kazimierz (2013-50%, 2006-50%) – 38,200 sq m
Galerie Harfa (2010) – 41,500 sq m
Avenue Osijek (2015) – 28,500 sq m
Galleria Buzau (2015) – 13,400 sq m
Galleria Arad (2016) – 35,700 sq m
Galleria Piatra Neamt (2016) – 13,700 sq m
Galleria Suceava (2013) – 10,800 sq m
Galleria Stara Zagora (2017) -21,000 sq m
Galleria Burgas (2017) – 36,300 sq m
MARKET VALUE OF PROJECTS SOLD OCTOBER 2009 AND SEPTEMBER 2019 (in EUR)
Data unavailable – we do not value assets that have been sold (above 400 m euro)
SIZE OF PROJECTS SOLD BETWEEN OCTOBER 2009 AND SEPTEMBER 2019 (GLA)
301,000 sq m
MARKET VALUE OF PROJECTS IN PROGRESS (in EUR)
n/a
SIZE OF PROJECTS IN PROGRESS (GLA)
n/a
PROJECTS IN THE PIPELINE
GTC’s Zielone Tarasy will be an innovative project, which will be a part of the concept of Miasteczko Wilanów. Zielone Tarasy will become a new center of the district, in which residents would feel comfortable and at ease. The main element of the project will be a string of green city squares where local residents can organize sports activities, concerts and cultural events food fairs and many others. An important assumption is to divide the multi-functional center into several buildings connected by passages that will be filled with office, entertainment, commercial and cultural space.
How much land has the developer purchased over the decade and how big is the total area it has built up?
GTC acquired land designated for Zielone Tarasy in Warsaw (project in the pipeline) and land for Galeria Północna (developed in 2017). The company also acquired a standing shopping mall – Mall of Sofia – 22,400 sq m.
Innovations and new technological systems featured in the properties
GTC has successfully introduced eco-solutions to its shopping centers to make them more environment-friendly. Having in mind the importance of ecology and sustainability the investor not only implements sustainable technology and materials to its buildings but also creates places that care about the well-being of the visitors. During the last decade 8 GTC buildings in Poland were granted BREEAM certificates. The experts appreciated the reduced energy consumption achieved through the installation of energy-saving lighting and efficient air handling systems. In Galeria Jurajska there are relaxation zones with 5 aquariums, an impressive 15 m high water wall (the largest one ever created in the world) and “Bulwary Jurajskie” – the city garden at the Warta’s boulevard with walking avenues, playgrounds, beach volleyball courts, and a fountain. Galeria Północna is recognized for its green roof with graduation tower and a butterfly conservatory, it also offers electric cars charging stations.
Annual income and net profit
The Group annual income amounted c. EUR 160 m and net profit c. EUR 90m. Annualized in-place rent for retail - EUR 51m
The milestones in the company’s history over the last decade – the key events that are a measure of the company’s development and success, the scale of its development, the number of employees now and 10 years ago, new services, new markets etc.
Over the past 10 years the company has grown into a leading developer and investor in the commercial real estate sector, focusing its activities on the Polish market and five capitals of Southern and Eastern Europe, i.e. Budapest, Bucharest, Zagreb, Sofia and Belgrade. At that time GTC opened 8 shopping malls. The most important investments include the opening of new shopping centers: Galeria Harfa and Galeria Stara Zagora (in 2010), Galeria Północna (2017) and Ada Mall (2019). In the meantime, in 2011 and 2013, 50% of shares were sold in Galeria Mokotów (remaining 50% at the valuation of the whole asset at EUR 475m) and Galeria Kazimierz (remaining 50% at the valuation of the whole asset at EUR 90m).
PLEASE SAY WHY YOUR COMPANY SHOULD BE CONSIDERED FOR THE AWARD
The GTC Group is a leading developer and investor in the real estate sector, focusing its activities on the Polish market and capitals of CEE, found in 1994. Since its inception GTC developed 465,000 sq m of retail space as well as acquired Mall of Sofia. Today GTC actively manages 5 shopping centers offering nearly 200,000 sq m of retail space in Poland, Belgrade, Zagreb and Sofia. GTC is an originator and developer of some of the most characteristic landmarks, such as Galeria Mokotów, Galeria Jurajska, Galeria Kazimierz and its newest development – Ada Mall, an extraordinary shopping center, which is a genuine green oasis in accordance with the environment. GTC creates comfort space for its tenants and customers, its buildings are often rewarded by the industry and distinguished with BREEAM certificates. The developer is also well known as a stable WSE-listed developer and one of the pillars of a WIG-Developers stock subcategory.
