GTC in talks to sell 50% of Warsaw mall

Global Trade Centre, the real estate subsidiary of international investment group Kardan, is in discussions to sell its 50% stake in Warsaw shopping centre Galeria Mokotów to Franco-Dutch property group Unibail-Rodamco. Unibail-Rodamco already owns the other 50% holding indirectly.

Eli Alroy, the chairman of the GTC supervisory board, said in a statement that the transaction would only be completed if GTC could get an attractive price for the stake.

If the sale does go through, it would be the last in a series of selected asset sales GTC has made from its investment portfolio in recent years. Other disposals have included the sale of the Mokotów Business Park in Warsaw, the sale of a 50% share in the shopping centre Galeria Kazimierz in Krakow and the America House office building in Bucharest.