Warsaw-based developer Globe Trade Centre (GTC) has stood out from competitors over the review period thanks to robust growth in its already expansive commercial real estate operations in Central and Eastern Europe.
The firm managed 46 office buildings and shopping malls scattered across several CEE capitals, overseeing approximately 755,000 sqm of lettable space.
Its financial performance in the first half of 2024 showed resilience in a challenging year for European real estate. The firm grew its rental revenues by 3% year on year to €93 million, achieved a significant gross margin of €65 million, and maintained a high occupancy rate of 86% across its portfolio.
GTC’s development pipeline was also robust, with around 500,000 sqm under development. In the first half of 2024 alone, the firm initiated work on 51,000 sqm of real estate, and secured over 62,000 sqm of new leases.
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