Briefs

Investkredit for Polimeni

Investkredit Bank has granted a long-term loan of 14.5 million euro to the Polimeni International Konin developer company. It is to be used to refinance liabilities connected with the construction of the Gallery on Lake Konin. The loan is to be repaid over 18 years and is secured by a mortgage.

New main office for Abet

Abet of Italy has purchased a modern office and warehousing property with high-stacking warehouse of 1500 sqm in Warsaw's Bemowo district. The company operates in the construction industry where it has won a strong position on the high-pressure and HPL laminates market. The transaction was serviced by Unikat Nieruchomości Komercyjne.

GTC registers good performance

Though GTC earnings slumped 20 percent last year compared with 2002 and stood at 223.6 million zlotys, the net profit rose by more than 3 million zlotys and reached a ceiling of 114.8 million. Profitability reaching around 50 percent was the result of selling half the shares in a company which owns the Mokotów Gallery. GTC revenue is generated by rental of space in office buildings and Mokotów Gallery (29.5 million zlotys) and from sales of premises and houses.

GTC takes a step nearer the Stock Exchange

The Globe Trade Centre's Management Board has applied for the company's shares to be traded on the Warsaw Stock Exchange. GTC stock will be submitted in a public offer to qualified investors and in a GTC International (majority GTC shareholder) private subscription, in return for non-pecuniary contributions in the form of company shares and the stock of five other companies operating in the Czech Republic, Romania, Serbia and Hungary.