Globe Trade Centre

What Globe Trade Centre does

Globe Trade Centre S.A. (GTC) is a publicly listed commercial real estate developer and investor headquartered in Warsaw, Poland, with operations spanning six Central and Eastern European markets plus Germany. Founded in 1994, the company has developed more than 82 office and retail properties and serves multinational corporate tenants, retail operators, and (more recently) German residential tenants. The company is dual-listed on the Warsaw Stock Exchange (GPW) and the Johannesburg Stock Exchange (JSE) under ticker GTC, and reports EPRA net tangible assets of EUR 1,124 million at end-2025.

GTC's core offering is Class A office space and shopping mall/retail centers across Poland, Hungary, Bulgaria, Croatia, Romania, and Serbia, with 99% of commercial buildings holding LEED, BREEAM, or DGNB sustainability certifications. Flagship assets include University Business Park (Łódź), Aeropark Business Centre (Warsaw), Duna Tower (Budapest), Mall of Sofia, Sofia Tower 1 & 2, City Gate (Bucharest), Centerpoint 1&2 (Budapest), and Avenue Center (Zagreb). In 2024-2025, GTC expanded into a new asset class by acquiring a German residential portfolio from Peach Property Group. Anchor tenants include Ericsson, evosoft, IBM Business Consulting Services, Sanofi-Aventis, and UNIQA. The portfolio achieved 87% occupancy at end-2025, with 151,000+ sqm of commercial space leased during the year.

GTC generates revenue primarily through recurring commercial property leasing (EUR 202 million in rental and service revenue in 2025, up 8% year-on-year) supplemented by transactional proceeds from asset sales (EUR 135 million in net proceeds in 2025). Leasing is executed directly through wholly-owned regional subsidiaries, with weighted average lease terms of 3.5 years for office space and 3.6 years for retail space. The 2025 financial year saw active capital structure management: EUR 455 million of senior secured notes were issued, EUR 494 million of legacy GTC Aurora bonds were refinanced, and EUR 330 million of bank loans were refinanced. Adjusted EBITDA was EUR 102 million in 2025 (down from EUR 108 million in 2024), with FFO I at EUR 33 million (down from EUR 68 million), and a net LTV ratio of 57.0% (up from 52.7%). Q1 2026 results showed a return to growth, with rental and service revenue up 7% and Adjusted EBITDA up 19% year-on-year.

Name

Globe Trade Centre

Legal name

Globe Trade Centre S.A.

Website

https://gtcgroup.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Short description

Globe Trade Centre (GTC) is a publicly listed commercial real estate developer and investor headquartered in Warsaw, operating a portfolio of Class A office and retail properties plus a German residential portfolio, serving multinational corporate tenants and retail operators across Central and Eastern Europe and Germany.

Ownership category

akta.pro rank

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Commercial Property Leasing: Primary revenue stream from leasing office and retail space across the portfolio. Rental and service revenue was EUR 202 million in 2025, up 8% from EUR 188 million in 2024. The portfolio includes commercial space in Poland, Hungary, Bulgaria, Croatia, Romania, Serbia, and Germany.
2. Property Sales: GTC generates proceeds from selling buildings and land plots. In 2025, EUR 135 million in net proceeds were raised through asset sales, including negotiations to sell approximately 45% of the German residential portfolio acquired from Peach Property.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Globe Trade Centre is a commercial real estate developer and investor that develops, owns, and leases Class A office buildings and shopping centers across Central and Eastern Europe (Poland, Hungary, Bulgaria, Croatia, Romania, Serbia) and Germany. The company generates recurring rental and service revenue from corporate office tenants and retail operators, and periodically monetizes assets through property sales. Its portfolio comprises 82+ developed properties, including flagship office complexes and shopping malls featuring LEED, BREEAM, and DGNB sustainability certifications.

Product overview

Globe Trade Centre is a leading commercial real estate investor and developer operating across Central and Eastern Europe and Germany. The company offers a portfolio of A-class office buildings and shopping malls/retail centers across Poland, Hungary, Bulgaria, Croatia, Romania, and Serbia. Key properties include University Business Park, Aeropark Business Centre, Duna Tower, Sofia Tower 1 & 2, Mall of Sofia, City Gate, Ericsson Headquarters, Pillar, evosoft Headquarters, Centerpoint 1&2, Advance Business Center 1&2, and Avenue Center. Properties feature sustainable design with green certifications (LEED, BREEAM, DGNB). The company also operates a German residential portfolio acquired in 2024-2025.

Differentiator

Problem solved

Functional benefit

Products and services

• University Business Park
• Aeropark Business Centre
• Duna Tower
• Sofia Tower 1
• Sofia Tower 2
• Mall of Sofia
• City Gate
• Ericsson Headquarters
• Pillar
• evosoft Headquarters
• Centerpoint 1&2
• Advance Business Center 1&2
• Avenue Center
• German Residential Portfolio

Quantifiable outcome

• 87% occupancy rate achieved across income-generating commercial portfolio
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• EventLabs Sp. z o.o.minorImplementation/ SI/ Consulting PartnerEvent partner for event registration services. GTC uses EventLabs for organizing and managing participant registration for events it hosts.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• EPP (Echo Polska Properties): EPP is the largest shopping center owner in Poland and a direct CEE retail real estate peer to GTC, sharing the same Warsaw-listed ecosystem and Polish commercial tenant base. GTC's incoming CFO previously served as EPP's CFO, underscoring the close comparability.
• CPI Property Group: CPI Property Group is one of the largest CEE real estate owners, with a diversified portfolio of offices, retail, and hospitality across the same geographies (Czech Republic, Poland, Hungary, Romania, Bulgaria) where GTC operates. It is a directly comparable institutional-grade CEE platform.
• NEPI Rockcastle: NEPI Rockcastle is the largest listed retail real estate platform in CEE, with shopping centers concentrated in Romania, Poland, Bulgaria, Hungary, Serbia, and Croatia — a near-perfect geographic and asset-class overlap with GTC's retail portfolio.
• Globalworth: Globalworth is a leading CEE office real estate investor and developer, with portfolios in Poland, Romania, Hungary, and Serbia — overlapping directly with GTC's office footprint and tenant base. It is a directly comparable Class A office platform.
• HB Reavis: HB Reavis is a privately held CEE office developer active in Poland, Czech Republic, Slovakia, Hungary, and the UK. It directly competes with GTC in delivering Class A office space to multinational tenants across overlapping CEE geographies.
• Atrium European Real Estate: Atrium is a listed owner-operator of shopping centers across Poland, Czech Republic, Slovakia, Hungary, and Romania — directly comparable to GTC's retail segment in terms of geography, asset class, and tenant mix.

Regional players

• Wing (Hungarian developer): Wing is one of Hungary's largest domestic real estate developers and investors, with office, retail, and mixed-use assets. It is directly comparable to GTC's Hungarian subsidiary (Centerpoint, Duna Tower, Pillar) but operates primarily within Hungary rather than pan-CEE.
• REICO (ČS nemovitostní fond): REICO is the largest Czech real estate fund managed by ČS nemovitostní, with office and retail assets primarily in the Czech Republic and Slovakia. It is comparable as a regional CEE institutional real estate vehicle, though it does not directly compete in all GTC geographies.

Broad incumbents

• CA Immobilien Anlagen (CA Immo): CA Immo is a Vienna-listed real estate company with significant office exposure in CEE (especially Hungary, Poland, Czech Republic, Romania). It is comparable to GTC's office portfolio but operates a broader, more geographically diversified European platform.
• Immofinanz: Immofinanz is an established Austrian commercial real estate group with retail and office assets across CEE. Its myhive office brand and STOP SHOP retail parks overlap conceptually with GTC's office and mall portfolio, although Immofinanz has a broader European footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sharer/sharer.php?u=%2F
• LinkedInlinkedin.com/company/gtc-s.a.

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Globe Trade Centre