GTC reports solid operating results, profit for the period and an increase in assets value
First quarter 2011 highlights
- Completed commercial space increased to 544,000 sq m
- Rental revenues up to EUR 24m (+2% y-o-y)
- Profit from property portfolio revaluation, net of EUR 14m
- Net income almost doubled to EUR 8m up from EUR 4m in the corresponding period of 2010
- Investments of EUR 60m compared to EUR 63m in the corresponding period of 2010
- Completion of Avenue Mall Osijek
- Start of construction of Platinium Business Park V with 50% pre-let
“We started 2011 at GTC dynamically. We opened Avenue Mall Osijek with approx. 90% of the space let. We also commenced construction of Platinum Business Park V with more than. 50% pre-let. We signed a number of lease agreements for a total of close to 15,000 sq m. I believe it is a good start of the year, but we want to do more – especially on the Polish market.” – says Eli Alroy, the Chairman of Supervisory Board.