GTC managed to raise PLN 445m from the Warsaw’s stock market this month for new projects it plans to launch in the near-term. The company representatives say GTC is now looking for new business partners and is planning to begin selling off at least one asset a year. “Our plan to increase capital and to sell some of our assets could give us the appropriate level of liquidity and lower the leverage level to make it possible for us to continue our investment plan for the next three years,” says Alain Ickovics, president of GTC’s Supervisory Board. “The next step would be to improve our financial results and to acquire partners for the new investments,” he adds. GTC’s first partner will be the developer Polnord with whom it plans to develop Galeria Wilanów. The project is expected to be delivered to one of Warsaw’s prime housing locations, Wilanów district.
