GTC is expanding its tenant portfolio in Bulgaria

GTC, one of the leading developers in Central and Eastern Europe, has signed a contract with IKEA and Bershka for the rental of retail space in the Mall of Sofia. In addition, GTC has extended its contract with the World Bank in the Advance Business Center II office building. According to the developer, these activities prove the good profitability of the company and the constant interest of tenants in renting office and retail space, even during the pandemic.

IKEA plans to open a new store with 1,200 sqm in May 2021. The tenant will move in after the reconstruction of the building, as a result of which a new tower of the Sofia Tower 2 office building will appear. Bershka will also open its store in May in the Mall of Sofia. Its owner, the Spanish company Inditex, has signed a contract for the lease of 800 sqm of retail space.

A year after signing a lease agreement at Advance Business Center, the World Bank has decided to expand the office space by another 650 sqm. As a result, it will lease 4,650 sqm of high-quality office space in Advance Business Center II, an A-class office building with the LEED Gold certificate. The building will soon be put into use.

“GTC has extensive experience in the Bulgarian commercial real estate market. Our strategy assumes the development of our real estate portfolio and further investments, especially in view of the growing demand for premium office and retail space. Customers appreciate the perfect location of our projects, well-designed interiors and numerous amenities, both inside and outside our investments. Apart from being a good investor, we also want to be a good neighbour acting in the spirit of corporate social responsibility. That is why we organize many social and charity events. For example, we are currently running a large charity campaign to collect dry food for those in need, in which our tenants are actively involved,” commented Danny Bercovich, Country Head at GTC Bulgaria.

GTC owns three properties in Bulgaria – Mall of Sofia, Sofia Tower and Advance Business Center I. Currently, the company is also developing two office projects – Sofia Tower 2 and Advance Business Center II.