GTC invests 56m euros in 2 office buildings

Real estate developer Globe Trade Center (GTC), one of the most dynamic developers on the local real estate market, will invest 56 million euros to build two class A office buildings, with a total surface area of 43,000 square metres. The buildings will be located in the Piata Presei Libere area, in the North of the Capital City, the company says. The project is scheduled for completion in 2008. The buildings will be built in two stages, close to the Sofitel hotel and the Romexpo Exhibition Centre, and will be have a car park that can accommodate 670 vehicles. The company estimates that it will receive the construction permit in the last quarter of 2006, when work on the first building is set to begin, reads a GTC release.