Gtc To Invest 40m Euro In Croatian Mall

Real estate developer Globe Trade Centre (GTC) will invest 40 million euro in a new shopping centre in the town of Osijek in Croatia, consultant and leasing agent for the project Colliers International Croatia said on April 7.

The development, Avenue Mall Osijek, will have 26 000 sq m of retail space for rent, Colliers said in a statement. The shopping centre is scheduled to be completed by end-2009.

GTC has already secured a four hectare plot for the new mall, less than two kilometres from downtown Osijek, Croatia's fourth largest city, Colliers said. The catchment area of the new development is more than half a million people within a 30 minutes drive.

Last year, GTC opened Avenue Mall Zagreb, with 130 stores featuring brands like Zara, Marks&Spencer, Esprit, Benetton and Calvin Klein among others, the Polish company said earlier.

GTC has extensive experience in the retail segment of the market and is now developing 17 malls in Poland, the Czech Republic, Croatia, Romania, Serbia and Bulgaria. In Bulgaria it is currently developing shopping centres in Varna, Bourgas and Stara Zagora.propertywisebulgaria.com