GTC Romania - a subsidiary of Globe Trade Centre S.A. (GTC) - has signed a lease contract for over 9,300 sqm of office space in the City Gate complex in Bucharest. It was the largest rental transaction concluded recently in Romania.

Rompetrol Group is an international petroleum consortium, operating in 12 European countries and one of the key players of the fuel sector in Southeast Europe. The company is the second biggest fuel maker in Romania, with a 40 percent share in the local market. The sole shareholder of Rompetrol is the Kazakhstan-based KazMunaiGas. Rompetrol’s turnover for 2009 is estimated at $7 billion.

Rompetrol will occupy over 9,300 sqm of space in the northern building of the City Gate complex. The object is located in a prestigious business district, in the northern part of Bucharest; it consists of two independent towers, with net rentable area of 44,000 sqm.

Rompetrol will also have 200 parking places at their disposal (out of a 1,000 total parking places available). The value of the 5-year contract amounts to approximately €11 million. With the contract with Rompetrol signed, 100 percent of space in City Gate's northern building is now leased. Romtelecom - Romania’s biggest telecommunications company also located their offices in City Gate.

Some of the most prominent tenants of the southern tower include: Microsoft, Millenium Bank and Hoffmann LaRoche. Additionally, Autoitalia - a car dealer company occupies over 1,300 sqm of space at the bottom floor of the building. This part of the complex is 70 percent leased.

Construction of the City Gate complex was concluded in Q4 2009. GTC Romania holds 60 percent of shares in the company responsible for the construction of the complex.

See also:

Back to Main News Page

EuropaProperty’s Back to Business Investment Forum to be opened by Warsaw’s Vice President

A new beginning for Warsaw’s Próżna Street

Dvintsev Business Center welcomes United Bakers