GTC has raised €82 million from the sale of two assets in Poland and Croatia as part of a strategy designed to strengthen its financial position.
In January 2025, the company finalized the disposal of a €55 million land plot in Warsaw’s Wilanów district to one of Poland's leading residential developers. The company also sold the Matrix C office building, in Zagreb, for €27 million.
“These strategic asset disposals are aligned with our goal of consolidating cash and enhancing our financial flexibility,” said Gyula Nagy, President of the Management Board of GTC.
“Our financial results for the first three quarters of 2024 reflect the solid condition of our business. To further strengthen our position, we have strategically disposed of selected assets, enabling us to enhance our cash reserves,” he added.
In the first nine months of 2024, GTC’s operational stability is evident in its financial performance. Rental income increased by 3% to €139 million, and the gross rental margin rose by 2% to €97 million. Cash on hand and in escrow accounts stood at €70 million, while the occupancy rate remained strong at 87%, with strong leasing activity year-to-date.
GTC now actively manages a commercial real estate portfolio of 45 commercial buildings providing around 745,000 sqm of lettable office and retail space as well as a portfolio of residential properties in Germany covering nearly 5,200 units.
