Investor in 4 malls in Bulgaria was granted with 41 million loan from EBRD

European Bank for Reconstruction and Development (EBRD) said it is considering to grant a loan of 41 million for expansion of regional real estate company GTC (Globe Trade Centre). In Bulgaria GTC have projects for malls in Stara Zagora, Burgas, Varna and Rousse. Furthermore, it had announced plans to build a residential complex with 600 apartments and an area of 61 thousand square meters near the commercial center in Bourgas. The company has offices, commercial and residential projects in nine countries in Central and Eastern Europe with a total area of over 1,5 million square meters. The company is listed on the Warsaw Stock Exchange and has a market capitalization of 1,3 billion Euros. One of the biggest shareholders in the company is an Israeli company Kardan NV, which sold part of its shares in GTC in September. Recently it was reported that EBV plans to increase its capital investment in CEE by 50% to counteract the negative effects of the global economic crisis in the region.