Globe Trade Centre (GTC)

The GTC Group is a highly-experienced real estate investor and developer focusing on Poland and capital cities located across the CEE region. Since 1994, it has been operating in Poland, Budapest, Belgrade, Bucharest, Zagreb and Sofia. Since the company was founded, GTC has developed 60 high standard, modern office and 14 retail properties with a total area of over 1.3 million sq m (c. 820 ths of office space). In each country of its operations, GTC has a regional office, led by a country manager who is responsible for asset and facility management. Each of the regional offices employs a highly-experienced and motivated team of leasing managers, asset managers and technical staff who are supported in each country by legal, marketing and accounting teams. GTC is also an originator and developer of some of the most characteristic facilities, such as Korona Office Complex, GTC White House Green Heart, Matrix, or Advance Business Center.
Name of company Globe Trade Centre (GTC)
Name of President or Managing Director for the region Yovav Carmi, President of the Management Board
President or Managing Director for the region profile Yovav Carmi leads GTC as the President of the Management Board since September 2020. He holds an in-depth knowledge of GTC’s operations and activities in the region collected through 19 years of working for the company as Chief Financial Officer, Chief Operating Officer and Member of the Management Board. Yovav Carmi distinguishes with extensive knowledge of the European real estate market and an ability to foresee trends and take right decisions during hard times of the coronavirus pandemic.
Short description of the company and team The GTC Group is a highly-experienced real estate investor and developer focusing on Poland and capital cities located across the CEE region. Since 1994, it has been operating in Poland, Budapest, Belgrade, Bucharest, Zagreb and Sofia. Since the company was founded, GTC has developed 60 high standard, modern office and 14 retail properties with a total area of over 1.3 million sq m (c. 820 ths of office space). In each country of its operations, GTC has a regional office, led by a country manager who is responsible for asset and facility management. Each of the regional offices employs a highly-experienced and motivated team of leasing managers, asset managers and technical staff who are supported in each country by legal, marketing and accounting teams. GTC is also an originator and developer of some of the most characteristic facilities, such as Korona Office Complex, GTC White House Green Heart, Matrix, or Advance Business Center.
Portfolio of all completed properties currently held by your company Currently, GTC actively manages a commercial real estate portfolio of 46 buildings providing nearly 750,000 sq m of lettable office and retail space located in the CEE capitals. The projects are adjusted to demanding requirements of the LEED and BREEAM certificates to meet the highest standards in terms of their design and construction. One of our most recognizable projects commissioned recently is Green Heart complex in New Belgrade, Serbia. The realization of this complexion project includes the revitalization of two existing buildings known as GTC Square as well as rebuilding the campus-style office park of three new developments. The whole Green Heart complex will provide 46,000 sq m of a green oasis as it provides high-tech space embedded in an eco-friendly environment which reflects a sustained attitude of GTC.
Value of the projects currently held by company (in EUR) 1.2b euro
Size of the projects currently held by company (GLA) c. 547,500
Properties sold between October 2019 and September 2020 Neptun Office Center is an A-class office building, located in Wrzeszcz, a Gdańsk district, at the main arterial route connecting the city center with Sopot and Gdynia. Commissioned to the market in 2014, it was the first office building in the Tricity to become an architectural icon symbolizing the dynamic development of the metropolis. Neptun has been in GTC’s portfolio since 2016, when the developer acquired this property from Hines. The office building offers 16,100 sq m of lettable state-of-art office space and provides 160 parking places. Based on a ssustainable approach of GTC, Neptune Office Center has been modernized and in result was awarded the BREEAM VERY GOOD certificate. Far-sighted asset management strategy of GTC led to the full lease up of the building, extension of average lease terms and significant value improvement. GTC has sold the office building in December 2019 generating free cash for reinvestments.
Value of the properties sold between October 2019 and September 2020 (in EUR) Neptun Office Center (Gdańsk, Poland) – 44m EUR
Size of the properties sold between October 2019 and September 2020 (GLA) Neptun Office Center (Gdańsk, Poland) – 16,100 sq m
Projects completed between October 2019 and September 2020 Green Heart N3 building is a part of an outstanding business complex in New Belgrade, Serbia. Located in the heart of an excellent business district distinguishes with a unique architecture and a great access to the city centre and main arterial roads to Zagreb and Budapest. Green Heart N3 was build according to LEED Gold standards and is under process of certification. Building distinguish with energy-saving components, such as smart lighting or air conditioning systems to meet the most exorbitant tenants’ expectations and adjust to individual requirements. Also, on the roof of the N3 building has been installed solar panels to deliver energy-saving measures. The development is made up of large glass windows allowing the green courtyard to be enjoyed from each of spacious terraces. The investment responds to needs of today's employees, giving them access to such amenities as a large restaurant, sports bar, play area for children or wellness area.
Value of the projects completed between October 2019 and September 2020 (in EUR) Green Heart N3 - EUR 11m (N3)
Size of the projects completed between October 2019 and September 2020 (GLA) Green Heart N3 - 5,400 sq m
Projects under construction 1. Advance Business Center II is GTC’s second development within Business Park Sofia in Bulgaria offering 17,800 sq m of lettable space. The plan of Advance Business Center II includes multiple green zones or water cascades to ensure tenants and employees an attractive space for relaxation. The building has been LEED GOLD pre-certified.
2. Pillar is a high-quality A-class building with the latest sustainable technology and precise project management. With a total area of 29,000 sq m, it will be located in Váci Office Corridor in Budapest. Pillar was fully pre-leased by Exxon Mobil. It was the largest lease agreement for an unfinished building in the history of Hungarian office transactions.
3. Matrix B is a second building of Matrix Office Park in Zagreb. The 10,700 sq m of high-quality office space is built in accordance with green principles. On October 2020, Matrix B has been granted LEED Platinum certification which encompasses sustainable construction elements.
Value of the projects in progress (in EUR) Advance Business Center II (Sofia, Bulgaria) – EUR 25m (as of 30/06/2020), Matrix B (Zagreb, Croatia) – EUR 18m (as of 30/06/2020), Pillar (Budapest, Hungary) – EUR 45m (as of 30/06/2020)
Size of the projects in progress (GLA) Advance Business Center II (Sofia, Bulgaria) – 17,800 sq m, Matrix B (Zagreb, Croatia) – 10,700 sq m, Pillar (Budapest, Hungary) – 29,000 sq m
Projects in the pipeline GTC X (Belgrade, Serbia) -16,800 sq m , Tower Mall of Sofia (Sofia, Bulgaria) - 7,700 sq m, Center Point 3 (Budapest, Hunagry) -35,500 sq m, Moderna (Katowice, Poland) - 18,300 sq m, City Rose Park 1-3 (Bucharest, Romania) - 50,100 sq m, The Twist (Budapest, Hungary) – 37,000 sq m, Zielone Tarasy (Warsaw, Poland) – 61,000 sq m, Seven Gardens (Zagreb, Croatia) - 55,000 sq m
Please say why your company should be considered for the award Over the past years, GTC has grown into a leading developer and investor in the commercial real estate sector, focusing on the Polish market and five CEE capitals. The strategy of GTC’s office buildings also focuses on effective asset management for the convenience of tenants and well-being of employees to meet the requirement of sustainable modern assets. Due to the sustainability-focused mindset accompanying the investor at every stage of building construction - from planning to the management after commissioning - GTC projects are often rewarded by the industry and distinguished with BREEAM or LEED certificates. Currently, over 80% of the company’s office assets has been rewarded with green certificates which proves the high involvement of high commitment GTC in promoting green solutions as well as caring for well-being of tenants which translates into high office rental rates at the level of 95%.
Name of company
Globe Trade Centre (GTC)
Name of President or Managing Director for the region
Yovav Carmi, President of the Management Board
President or Managing Director for the region profile
Yovav Carmi leads GTC as the President of the Management Board since September 2020. He holds an in-depth knowledge of GTC’s operations and activities in the region collected through 19 years of working for the company as Chief Financial Officer, Chief Operating Officer and Member of the Management Board. Yovav Carmi distinguishes with extensive knowledge of the European real estate market and an ability to foresee trends and take right decisions during hard times of the coronavirus pandemic.
Short description of the company and team
The GTC Group is a highly-experienced real estate investor and developer focusing on Poland and capital cities located across the CEE region. Since 1994, it has been operating in Poland, Budapest, Belgrade, Bucharest, Zagreb and Sofia. Since the company was founded, GTC has developed 60 high standard, modern office and 14 retail properties with a total area of over 1.3 million sq m (c. 820 ths of office space). In each country of its operations, GTC has a regional office, led by a country manager who is responsible for asset and facility management. Each of the regional offices employs a highly-experienced and motivated team of leasing managers, asset managers and technical staff who are supported in each country by legal, marketing and accounting teams. GTC is also an originator and developer of some of the most characteristic facilities, such as Korona Office Complex, GTC White House Green Heart, Matrix, or Advance Business Center.
Portfolio of all completed properties currently held by your company
Currently, GTC actively manages a commercial real estate portfolio of 46 buildings providing nearly 750,000 sq m of lettable office and retail space located in the CEE capitals. The projects are adjusted to demanding requirements of the LEED and BREEAM certificates to meet the highest standards in terms of their design and construction. One of our most recognizable projects commissioned recently is Green Heart complex in New Belgrade, Serbia. The realization of this complexion project includes the revitalization of two existing buildings known as GTC Square as well as rebuilding the campus-style office park of three new developments. The whole Green Heart complex will provide 46,000 sq m of a green oasis as it provides high-tech space embedded in an eco-friendly environment which reflects a sustained attitude of GTC.
Value of the projects currently held by company (in EUR)
1.2b euro
Size of the projects currently held by company (GLA)
c. 547,500
Properties sold between October 2019 and September 2020
Neptun Office Center is an A-class office building, located in Wrzeszcz, a Gdańsk district, at the main arterial route connecting the city center with Sopot and Gdynia. Commissioned to the market in 2014, it was the first office building in the Tricity to become an architectural icon symbolizing the dynamic development of the metropolis. Neptun has been in GTC’s portfolio since 2016, when the developer acquired this property from Hines. The office building offers 16,100 sq m of lettable state-of-art office space and provides 160 parking places. Based on a ssustainable approach of GTC, Neptune Office Center has been modernized and in result was awarded the BREEAM VERY GOOD certificate. Far-sighted asset management strategy of GTC led to the full lease up of the building, extension of average lease terms and significant value improvement. GTC has sold the office building in December 2019 generating free cash for reinvestments.
Value of the properties sold between October 2019 and September 2020 (in EUR)
Neptun Office Center (Gdańsk, Poland) – 44m EUR
Size of the properties sold between October 2019 and September 2020 (GLA)
Neptun Office Center (Gdańsk, Poland) – 16,100 sq m
Projects completed between October 2019 and September 2020
Green Heart N3 building is a part of an outstanding business complex in New Belgrade, Serbia. Located in the heart of an excellent business district distinguishes with a unique architecture and a great access to the city centre and main arterial roads to Zagreb and Budapest. Green Heart N3 was build according to LEED Gold standards and is under process of certification. Building distinguish with energy-saving components, such as smart lighting or air conditioning systems to meet the most exorbitant tenants’ expectations and adjust to individual requirements. Also, on the roof of the N3 building has been installed solar panels to deliver energy-saving measures. The development is made up of large glass windows allowing the green courtyard to be enjoyed from each of spacious terraces. The investment responds to needs of today's employees, giving them access to such amenities as a large restaurant, sports bar, play area for children or wellness area.
Value of the projects completed between October 2019 and September 2020 (in EUR)
Green Heart N3 - EUR 11m (N3)
Size of the projects completed between October 2019 and September 2020 (GLA)
Green Heart N3 - 5,400 sq m
Projects under construction
1. Advance Business Center II is GTC’s second development within Business Park Sofia in Bulgaria offering 17,800 sq m of lettable space. The plan of Advance Business Center II includes multiple green zones or water cascades to ensure tenants and employees an attractive space for relaxation. The building has been LEED GOLD pre-certified.
2. Pillar is a high-quality A-class building with the latest sustainable technology and precise project management. With a total area of 29,000 sq m, it will be located in Váci Office Corridor in Budapest. Pillar was fully pre-leased by Exxon Mobil. It was the largest lease agreement for an unfinished building in the history of Hungarian office transactions.
3. Matrix B is a second building of Matrix Office Park in Zagreb. The 10,700 sq m of high-quality office space is built in accordance with green principles. On October 2020, Matrix B has been granted LEED Platinum certification which encompasses sustainable construction elements.
Value of the projects in progress (in EUR)
Advance Business Center II (Sofia, Bulgaria) – EUR 25m (as of 30/06/2020), Matrix B (Zagreb, Croatia) – EUR 18m (as of 30/06/2020), Pillar (Budapest, Hungary) – EUR 45m (as of 30/06/2020)
Size of the projects in progress (GLA)
Advance Business Center II (Sofia, Bulgaria) – 17,800 sq m, Matrix B (Zagreb, Croatia) – 10,700 sq m, Pillar (Budapest, Hungary) – 29,000 sq m
Projects in the pipeline
GTC X (Belgrade, Serbia) -16,800 sq m , Tower Mall of Sofia (Sofia, Bulgaria) - 7,700 sq m, Center Point 3 (Budapest, Hunagry) -35,500 sq m, Moderna (Katowice, Poland) - 18,300 sq m, City Rose Park 1-3 (Bucharest, Romania) - 50,100 sq m, The Twist (Budapest, Hungary) – 37,000 sq m, Zielone Tarasy (Warsaw, Poland) – 61,000 sq m, Seven Gardens (Zagreb, Croatia) - 55,000 sq m
Please say why your company should be considered for the award
Over the past years, GTC has grown into a leading developer and investor in the commercial real estate sector, focusing on the Polish market and five CEE capitals. The strategy of GTC’s office buildings also focuses on effective asset management for the convenience of tenants and well-being of employees to meet the requirement of sustainable modern assets. Due to the sustainability-focused mindset accompanying the investor at every stage of building construction - from planning to the management after commissioning - GTC projects are often rewarded by the industry and distinguished with BREEAM or LEED certificates. Currently, over 80% of the company’s office assets has been rewarded with green certificates which proves the high involvement of high commitment GTC in promoting green solutions as well as caring for well-being of tenants which translates into high office rental rates at the level of 95%.