GTC expands with office investment in Bratislava

• GTC has become the owner of an office building in the Bratislava city center

• Revitalization works are scheduled for completion in autumn 2009

GTC Slovakia - a subsidiary of Globe Trade Centre SA - has concluded the transaction to purchase an office building. Construction works will start in the autumn of this year, and completion of the revitalization is scheduled for autumn 2009. The building will offer its tenants about 12,000 sq m of office and retail & service space.

The building is situated at 1 Jarošova St., next to one of the main transit routes in Bratislava linking the old and new parts of the city. The eleven-storey building will offer more than 11,000 sq m of Class B+ office space and 900 sq m allotted for shops and service points.

"All Class B+ office investments in attractive locations in Bratislava are of great interest to tenants," said Jozef Šimek, Sales and Marketing Manager of Slovak branch. "We believe that the favorable location and good transit for the revitalized building will attract international and local companies seeking offices in the capital of Slovakia."

Bratislava is the biggest city in Slovakia (nearly 450,000 inhabitants) and the country's most important business, industrial, cultural and scientific center.

The total office space available in Bratislava is estimated at about 1 mln sq m, but only about 430,000 sq m of this can be considered high-quality office stock meeting the highest construction and technological requirements. The annual demand for modern spaces is estimated at 75,000 - 85,000 sq m in the upcoming years.