March 01, 2017

KMG Rompetrol to stay at City Gate in Bucharest

KMG Rompetrol to stay at City Gate in Bucharest

GTC has signed another lease agreement with KMG Rompetrol, a petroleum industry giant and one of the key players in the fuel sector in Southeast Europe, extending the contract for another five years. KMG Rompetrol is to retain 9,400 sqm of its headquarters in City Gate in Bucharest, Romania.

KMG Rompetrol, an international oil company operating in Romania, Moldova, Bulgaria, Georgia and France, decided to continue its lease of 9,400 sqm of modern office space in the northern tower of the City Gate complex until July 2023. The property is located in a prestigious business district of Bucharest and consists of two independent towers, with a total leasable area of nearly 48,000 sqm.

“The trust of our business partners strengthens GTC’s position as a leading real estate player on the Romanian office market. We are glad a company as renowned as KMG Rompetrol once again relied in us and showed proof of their satisfaction by extending their lease” commented Bogdan Jigman, Managing Director of GTC Romania.

City Gate is considered to be one of the best performing office projects in the Romanian capital. Last year, GTC successfully streamlined the ownership structure of the whole complex by buying out its minority partner, Bluehouse Capital and now owns 100 percent of the equity.
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