Polish developer Global Trade Centre (GTC) is expanding its Croatian portfolio with the purchase of a 12,000 m[sup]2[/sup] plot of land in the capital city of Zagreb to build a 24,000 m[sup]2[/sup] modern office and shopping complex. The investment value comes to EUR 42 mln.
Polish developer Global Trade Centre (GTC) is expanding its Croatian portfolio with the purchase of a 12,000 m2 plot of land in the capital city of Zagreb to build a 24,000 m2 modern office and shopping complex. The investment value comes to EUR 42 mln.
'We want to benefit from Croatia's booming real estate market by developing projects in all three segments, office, retail and residential,' said GTC's Hagai Harel. GCT was established in Poland in 1994 and is active in Poland, Hungary, Czech Republic, Romania, Serbia, Croatia, Bulgaria, Slovakia and Ukraine with a focus on capital cities.
GTC began its operations in Croatia in 2004 and developed Zagreb's first shopping and entertainment centre, called Avenue Mall, and a 7,000 m2 office tower. In September 2006, GTC Croatia acquired a majority interest in a residential and hotel project on the Istria peninsula of Croatia. Completion is planned for 2009.
