Real Estate Industry
GTC International, Poland
There are, of course, many reasons for entering a new market. Serbia presented both a challenge and an opportunity for GTC. Firstly, as it is an emerging market, one of the principle reasons is that we perceived a large gap in the real estate sector and a need for more offices, hotels, shopping malls, and quality mid-to-upper level residential buildings. Choosing to come here also reflected our confidence in Serbia in terms of opportunity, resources, and skilled workers.
The world of business buildings is one which has a very long-term vision of the future. The needs of today are of critical importance, but those of tomorrow are paramount. GTC has seen in Belgrade a vision of a major European center of commerce, business, industry, and transport. Belgrade is in the very heart of the Balkans and at the epicenter of all movement throughout South East Europe. As the importance of Belgrade grows, so too will its requirements for office space and business parks.
GTC HOUSE is the first of GTC International's investment in Serbia. The building, completed in April 2005, appeared as the long anticipated building offering class A office facilities for leasing to the leading international companies in Belgrade. The modern building is fully equipped with all high-tech facilities, sophisticated telecommunications, and elegant double height entrance lobby leading into a covered central atrium.
Our new office project 19Avenue will consist of two 1st class office buildings with a unique design of 20,000 sqm. The 19 Avenue will be completely equipped with high-tech telecommunication devices, offering not only exceptional working environment, but also facilities such as a restaurant, bar, storage and underground garage.
Other GTC International's projects include GTC Square and Park Apartments. GTC Square is the newest innovative office project located in New Belgrade, with ample parking space, an open interior courtyard overarched by translucent catwalks, and an expansive and majestic atrium. Park Apartments is a top of the range residential building introducing a new concept of living, with 200 apartments, 2-level underground parking, retail stores, fitness center, 24-hour reception desk, security services, maintenance services on the spot, and a video interphone.
This is a very exciting time to be doing business in Serbia. In the context of its transition, Serbia has launched itself resolutely onto the path of joining the rest of Europe in terms of its economy and business. Foreign investment continues to come into Serbia from across the spectrum of industry sectors: banking, telecommunications, and, naturally, construction. Investors continue to view Serbia not only as an important investment destination in itself, but as a gateway to the region as well. We at GTC are committed to open and transparent business practices, and have been very encouraged by the country's efforts to align itself with the best practices for business development as witnessed in the EU and neighboring countries.
In short, we are very optimistic about the business climate in Serbia and have already experienced many of the benefits of investing here.
Mr. Robert Snow, Managing Director, GTC Serbia