Shimon Galon (photo), the head of the Romanian division of GTC, an Israeli-based real estate developer, is currently working on more than ten real estate projects, which total one million square metres. After finalising the Europe House and America House office developments, located in Piata Victoriei and sold for 150 million euros, Shimon Galon is now planning several hundred million euros worth of investments. America House was the biggest office space transaction in Romania. "The board is pressuring me into becoming involved in as many projects as possible," Shimon Galon told BUSINESS Magazin, pointing out that this was a radical change of direction compared with how things used to be a decade ago. "Ten years ago we would try hard to convince our shareholders to invest here. Now they are pressuring us (i.e. into doing it)," says the head of GTC's Romanian division. Global Trade Center (GTC) is one of the most important real estate developers in Central and Eastern Europe and is listed on the Warsaw Stock Exchange. Its main shareholder is the Kardan group based in Israel. After completing the two business centres in Piata Victoriei, GTC is now building an office complex in Piata Presei Libere - City Gate, and a class B project in Pipera. It is also working on residential complexes that total 370,000 square metres, a six-hectare mall in northern Bucharest and six smaller shopping centres in cities throughout the country. When asked whether this was a lot or just a little, Galon, who regards himself as an "involved" manager, who likes to stay in close contact and keep the projects on a short leash, says he believes he can "take on" more. Especially because, adds Galon, the real estate boom will only last for 3 or 4 more years and then nobody can predict what will happen.
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