GTC: 74 million euros decrease of entire portfolio value in the last 3 months
The Board of Directors of Global Trade Center informed its shareholders that a decrease in the value of the entire portfolio of up to 74 million euros is expected to happen based on preliminary discussions with valuation experts in charge of evaluating the group's real estate portfolio. The expected decrease is 3.4% and refers to the last 3 months, which will end on December 31. More than half of this decrease refers to the depreciation of shopping centers due to the lockdown caused by the coronavirus, while the other half refers to the depreciation of the office buildings portfolio. In Bucharest, GTC owns 4 office buildings, Premium Plaza, Premium Point, City Gate and Cascade Office Building and City Rose Park - under construction.