Name of President or Managing Director for the region
Thomas Kurzmann, CEO
Regions active in (in which countries the company operates)
Poland, Serbia, Hungary, Romania, Croatia and Bulgaria
Portfolio
For the last year, the GTC Group has continued its growth strategy and has been successfully expanding the company’s portfolio. Currently, GTC manages real estate portfolio of 36 commercial real estate projects providing over 594 000 sq m of high standard office and retail space. Furthermore, the company has 3 modern investments under construction (Artico, FortyOne III, Galeria Północna) and 5 projects in the planning phases (Ada Mall, Galeria Wilanów, Green Heart, V-RK: Budapest City Tower, White House).
Office projects included in the portfolio
Neptun Office Center, Sterlinga Business Center, Pixel, Aeropark Business Centre (Zephirus, Nothus, Corius), University Business Park, Centrum Biurowe Francuska, Korona Office Complex (Galileo, Newton, Edison, Pascal), Globis Poznań, Globis Wrocław, Artico, , City Gate, Premium Point, Premium Plaza, , Center Point, Spiral, Duna Tower, GTC Metro, Office Garden I, GTC House, 19 Avenue, GTC Square, FortyOne I-III, Avenue Centre.
The value of office properties held by investor (in EUR)
835 mln EUR
Retail projects included in the portfolio
Galeria Jurajska is the third retail and entertainment centre 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 is an investment realized by GTC Croatia in New Zagreb district – one of the most attractive locations of the city. The GLA of the center is 26 500 sq m.
Galleria Stara Zagora is a multifunctional shopping complex opened in 2010, part of the international shopping center chain of the same name, developed and managed by GTC. The net built-up area of the project, situated on 4 levels, is 36,400 sq m.
Galleria Burgas provides more than 36,500 sq m of net rentable area and 1,200 parking spaces. The mall is the first international-style shopping centre with entertainment in the city and in the south-eastern part of Bulgaria.
Galeria Północna will offer around 64,000 sq m of space and 2,300 parking places. The opening of the Shopping Mall is scheduled for the first half of 2017.
The value of retail properties held by investor (in EUR)
311 mln EUR
The value of warehouse properties held by investor (in EUR)
N/A
The largest purchase transactions between October 2015 and September 2016 (subject of the transaction, its total take up area and value in EUR)
Duna Tower, inaugurated in 2006, is the 60-meter-high twin-tower on the Pest side of Árpád Bridge. At the moment of acquisition, this purchase has taken GTC Hungary’s total office portfolio up to 118 000 sq. m GLA and reinforced the company’s profile as leading investor and developer in the region. Duna Tower has been acquired by GTC for EUR 52.5 mn, whereas Sterlinga and Neptun, A-class office buildings in Poland with 30 thous sq m GLA, were purchased for EUR 56.5 mn.
Future plans
GTC continues to grow and increase the net asset value of the company with over 90,000 sq. m of commercial space under construction scheduled for completion in 2016 and 2017 and five more development projects of approximately 182,000sq. m of commercial space currently in the planning phase, including Ada Mall, Galeria Wilanów, Green Heart, V-RK: Budapest City Tower, White House.
The value of the funds for the investment, whether the investor is permanently established in countries in the region, the number of employees
143 employees
Acquisition activity across the CEE real estate markets between October 2015 and September 2016
The largest purchase transactions between October 2015 and September 2016 concluded by GTC was an acquisition of Duna Tower in Budapest. Moreover, the Group acquires 6 modern A-class office buildings, Pixel in Poznań, Neptun Office Center and Sterlinga Business Center, located in Gdansk and Lodz respectively, and two modern A-class office buildings in Bucharest – Premium Plaza and Premium Point. The acquisitions together have increased GTC’s portfolio by more than 91,000 sq. m of net leasable area. This year the developer has also purchased Artico in Warsaw that is currently under construction and will offer a total leasable area of 7 800 sq m. The Artico office project is fully leased.
Why the company deserves the award (in a paragraph you can describe the specific achievements of the company)
GTC reported remarkable results for the first half of 2016. Only this year, the company has invested €95 million in value accretive office properties, and a plot of land for an office development in the CBD of Budapest. GTC completed the development of the University Business Park B office building and the Budapest team commenced preparation for the construction of the White House office building in Budapest. The construction of Galeria Północna and two office buildings in the FortyOne project continuous according to schedule. On 18 August 2016, GTC became the first Polish inward listed company on the main board of the Johannesburg Stock Exchange (JSE). The Group was also successful with further disposal of non-core assets as well as refinancing of investment loans (only in the first half of 2016 GTC signed refinancing loans for over €226 million, including refinancing of Duna Tower, Pixel as well as Sterlinga Business Centre and Neptun Office Centre.
