CEE developer-investor GTC said on Tuesday that it has received planning permission for the development of the Twist, a new office tower in the central business district of Budapest.
At 23 floors, the Twist will be the highest building in Budapest, providing around 37,000 m2 of total leasable area. The new project is located in the 13th district of Budapest, which is rapidly becoming the new business quarter of the Hungarian capital.
'GTC is taking advantage of the high demand for modern office space in Budapest and we are proud to be one of the leading developers bringing new high class office space to the market. The Twist with its brilliant architecture on its very unique location will certainly become a landmark building on the business map of Budapest, the construction permit for it is an important milestone of our operations in Hungary,' commented Thomas Kurzmann, GTC’s CEO.
Warsaw-listed GTC currently manages a commercial real estate portfolio of 42 buildings providing 698,000 m2 of lettable space in Poland, Budapest, Bucharest, Belgrade, Zagreb and Sofia. In addition, the firm has a 388,000 m2 development pipeline in the region.