GTC Real Estate Investments Romania, a subsidiary of Globe Trade Centre, has acquired new shares in the company developing City Gate, an office building in the north of Bucharest, Romania.

Following this transaction, GTC Romania’s stake in the project has increased to around 59 percent. The cost of acquiring the nearly 10 percent stake amounted to €6 (zł.25.7) million. The project comprises two towers, offering a total of 44,000 sqm of office space and an underground parking lot for 1,000 cars. About 75 percent of the office and retail space has already been leased.