ARTICLES LABELLED WITH TAG GTC

GTC has been awarded the Very Good BREEAM certificate for one of its Warsaw assets, the Artico office building. Thus, the company has successfully completed the green adaptation process for all its Polish commercial assets.

Top Polish developers believe that in 2021 the real estate market will normalize and the vaccine will help it shake off the pandemic effects. They discussed investment markets trends at the online edition of Property Investment Forum 2020, organised by Portfolio in partnership with Property Forum.

On 3 December 2020, GTC’s subsidiary, GTC Real Estate Development Hungary Zrt., issued 792 pieces of senior unsecured bonds, with the nominal value of HUF 50 million each and the total value of HUF 39.6 billion (approximately €110 million). The bonds will be fully guaranteed by GTC S.A.

After the first wave of the pandemic, continuous communication with tenants has proven to be more important than ever and helped landlords reach solutions in this difficult and unpredictable situation. Yovav Carmi, President of GTC Group’s Management Board and Robert Snow, Member of GTC Group’s Management Board and Chairman of GTC Hungary talked to us about COVID-19’s potential implications for the commercial real estate market and shared their expectations for the future.

GTC’s profit before tax and fair value adjustments increased to €21 million in Q3 2020 from €15 million in Q3 2019. For the January-September period, 2020’s results were slightly weaker at €52 million compared to the previous year’s €53 million.

A German rating agency Scope Ratings has assigned a first-time issuer rating of BBB-/Stable to Globe Trade Centre S.A. and its subsidiary GTC Real Estate Development Hungary Zrt. GTC Group also announces green bonds issuance within the framework of the Bond Funding for Growth Scheme launched by the National Bank of Hungary. The senior unsecured debt rating is BBB-. The outlook on the ratings is stable.

GTC has sold Spiral, a Class A office building located in Budapest, Hungary. The sale will generate €41 million of free cash.

GTC has expanded its portfolio of green projects. The Matrix A and Matrix B office buildings in Zagreb have both been granted LEED Platinum certifications. Thus, 80% of all GTC’s office properties now bear an eco-friendly label. 

GTC Supervisory Board has appointed Mr. Yovav Carmi to the position of the President of the Management Board of GTC.

GTC has appointed Grzegorz Strutyński to the position of Country Manager Poland. He will be responsible for all activities taken by the company in Poland.