ARTICLES LABELLED WITH TAG GTC

Pedja Petronijevic and GTC terminated their agreement with mutual consent as a result Pedja will be stepping down from his current position as a member of GTC’s Management Board effective as of 15 July 2022. 

Edina Magó will step up as Marketing Director and Nikoletta Ispánki will join the company as Commercial Director. The new appointments will strengthen the focus to enhance the growing markets.

Cushman & Wakefield continues its partnership with GTC to provide community building services for the company’s office buildings. By coordinating its activities as part of its proprietary “WakeApp Your Office” scheme, Cushman & Wakefield is responding to the challenges experienced by office tenants and landlords in encouraging employees to return to the office post-pandemic.

Danny Bercovich was promoted to Regional Director of Retail of GTC. Previously, he has served the company as the CEO of GTC in Bulgaria and Romania. In the new role, Mr Bercovich will steer the company’s operations and growth strategy in the retail segment.

In Q1 2022, GTC’s adjusted EBITDA was at €26 million (€24 million in Q1 2021) and the net profit amounted to €15 million (€9 million in Q1 2021). This mainly resulted from a strong operating performance combined with profit from revaluation/impairment of assets of €3 million, partially offset by an increase in foreign exchange differences loss by €1 million.

Zoltán Fekete and Ariel Ferstman, the CEO and CFO of Globe Trade Centre, have talked to Property Forum about GTC`s financial results in 2021, shaking off the last COVID-related restrictions and biggest challenges for the commercial property market in 2022.

In 2021, GTC recorded an adjusted EBITDA of €113 million (€105 million in 2020) with the net profit amounting to €43 million in 2021 (€71 million loss in 2020). This mainly resulted from a strong operating performance combined with lower loss from revaluation/impairment of assets by €130 million, partially offset by an increase in finance cost by €8 million and recognition of tax expenses of €14 million.

GTC is set to further develop the Matrix Office Park in Zagreb by adding another building to the complex. The third building, Matrix C, which received a building permit earlier this year, will be the newest extension to the business centre. Just like the previous two, Building C is meant to provide innovative office space, while maintaining a high ecological standard for an international tenant mix. The shell & core of the building is scheduled for completion in Q2 2023 ready for the fitting out of tenant areas.

Zoltán Fekete was appointed the President of the Management Board of GTC. Previously, he has served the company as the Chairman of The Supervisory Board for two years. In the new role, Mr Fekete will steer all GTC’s operations in the region.

GTC has handed over the Pillar office building in Budapest which will almost fully be occupied by ExxonMobil. This BTS project was the biggest pre-lease ever (29,000 sqm) on the Hungarian office market.