Despite the fact that GTC have sold their shares in Galeria Mokotow their income from renting commercial space and services has increased by 3% in the first quarter of 2012( reaching 32 mln euro) in comparison to the previous year. This increase is due to some recently accomplished real estate investments.
In the first quarter of 2012 we have not noticed any events that could have a significant influence on our financial results. These days it is a relatively good sign – said Alain Ickovics Chairman of GTC Executive Committee. We have done the first step allowing us to emit shares – the resolution has already been passed by the board. The incoming months are to be particularly important for GTC. Our most important goals are: increasing the capital and a sell of certain, but not the crucial ones, company assets in order to strengthen the company’s balance – says Ickovics.
The total value of investment real estate is said to be approximately 2.038 billion euro by 31st of December 2012. The next valuation of real estate and grounds destined for commercial and residential buildings is to be carried out on the 30th of June 2012 by independent experts.
In the first quarter of 2012 GTC signed many renting contracts concerning overall area of more than 51.000 sq. meters of commercial space.