The Galleria Malls from Romania have lost Value

The Galleria malls from the cities of Arad, Piatra Neamt and Buzau, owned by the real estate developer GTC, were valued at the end of June 2014 at 29 million euro, 17% less compared to March, while the office ensemble City Gate from Bucharest lost 1% of its value in the past three months.

City Gate ensemble, the most important asset of GTC in Romania, was estimated at the of H1 at 156 million euro, 1% less compared to the end of March.

The downwards reevaluation of the commercial centers was caused by Read more

GTC Romania Prepares New Investments

The new shareholders of GTC Romania say that they plan to build new real estate projects but also to buy some projects in early stages of development, and the office segment is the one targeted. “The real estate market from Romania is going through a positive period and there are numerous investment opportunities. The land plots have reached at a better price, and the demand from companies for modern office spaces or for commercial spaces has returned to attractive levels. We are analyzing various development opportunities for the activity of GTC Romania, and we are interested in starting new projects and even buying other Read more

New Developer, New Office Project in Bucharest

The former boss of the real estate developer GTC Romania, Shimon Galon, has opened a company along several of friends and former employees from GTC Romania, which will develop its own real estate projects and projects for other investors. “I created a company, Real-Sol, along with several friends, including former employees from GTC, such as Stefan Cremene (former operations manager at GTC Romania). We want to do with this company the same thing we did for GTC, to develop real estate projects for us and for other investors. The first project we will develop will be Read more