The average occupancy rate of City Gate and Galleria Arad was 92% at the middle of this year, with an average rent of EUR 14 per sqm/month, according to a report published on Tuesday by GTC developer, the owner of the buildings. The two assets are evaluated at EUR 194 million.

City Gate value has decreased with EUR 2 million in the second quarter, after having decreased with EUR 7.7 million in the first three months of the year, according to the company’s data.

The malls Galleria in Arad, Piatra Neamţ and Buzău, the last two for sale are evaluated ascending with EUR 4 million in the period April-June, after the standing in the first quarter

GTC had revenues of EUR 16.3 million in the first semester in Romania and Bulgaria, compared to EUR 29.7 million in the same period of last year.


The total costs registered by the company in both countries have cut down to half, from EUR 20.1 million to EUR 9.9 million, with a brut profit of EUR 6.3 million, compared to EUR 9.6 million in the first half of 2012. (source: