GTC Takes Full Control of Galeria Wilanów Project
October 21, 2012
Property group Globe Trade Centre (GTC) has taken full control of the Galeria Wilanów shopping mall project in Warsaw after buying the remaining 50 percent stake from its partner, developer Polnord.
GTC will now develop and manage Galeria Wilanów by itself. The shopping mall and entertainment center, to be located in Warsaw's district of Wilanów, will total 80,000 sq m of leasable space. The project's first phase will total 60,000 sq m of leasable space at an investment of 160 million euros. Construction is due to start once the company receives all the necessary building permits and will last 18 months.