EASTERN Europe-focused property developer and manager Globe Trade Centre, which took up an inward listing on the JSE last week, grew its income-generating portfolio 9% in the six months to June. The company’s net operating income increased 5% to €41m.CEO Thomas Kurzmann said local institutional investors had expressed a desire to gain exposure to property companies in the Eastern European real estate sector, which offered better growth than many other markets in the world.Plans were also on track to open a 64,000m² shopping centre, Galeria Pólnocna, in the Polish capital, Warsaw, at the end of August 2017.The mall was the first major shopping centre to be developed in Warsaw in about eight years, Kurzmann said.GTC, which has a market capitalisation of nearly R12bn, intended to pay its first dividend to South African investors in 2018, he said.The company owns primarily A-grade office and retail properties in high-demand nodes within Poland and the capital cities Budapest, Bucharest,...
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