GTC International built the Galleria Mokotow mall in Warsaw, half of which was recently sold to a Dutch corporation.
GTC International is investing $85 million to build a 50,000-sq.m. mall and adjacent 60,000-sq.m. underground parking garage in Krakow, Poland. The mall will open in a couple of months. 10,000 sq.m. has already been leased to fashion stores, supermarkets, and cinemas. The names of the tenants and the rents have not been disclosed.
GTC is owned by Azorim Investment, Development and Construction (TASE:AZRM), Kardan Real Estate (TASE:KRDR), Deutsche Bank, Citibank, and private investors, reportedly including GTC CEO Eli Elroy. GTC built the reportedly very successful Galleria Mokotow mall in Warsaw, half of which was recently sold to a Dutch corporation. GTC has been active in Eastern European real estate for the past nine years, and is considered a pioneer and leader in field.
Published by Globes [online] - www.globes.co.il - on December 28, 2003