Rompetrol extends lease agreement in City Gate

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GTC has renewed its lease agreement with KMG Rompetrol – management and support services division of the KMG International Group – one of the key players in the fuel sector in southeastern Europe, for another five years. KMG Rompetrol will continue to occupy 9,356 sq m of its headquarters in City Gate, a modern A-class office building located in Bucharest. This is the first transaction completed under the guidance of Ziv Gigi, recently appointed Managing Director of GTC’s operations in Romania, and CEE Estate, an asset management company.

KMG Rompetrol, part of an international oil company with operations in Romania, Moldova, Bulgaria, Georgia and the upstream area, has decided to prolong its lease for 9,356 sq m of modern office space in the northern tower of the City Gate complex until December 2026. The property is located in a prestigious part of Bucharest’s business district and consists of two buildings offering almost 48,000 sq m of high-quality office space in total.

 We always appreciate the trust our business partners have in the excellency of services offered in our properties. KMG Rompetrol is a company that develops dynamically in Romania and beyond, paying close attention to ensuring the best working conditions for their employees. We are happy that such a reputable company stays loyal to the quality of our services, especially during the turbulent times of the pandemic. This agreement has proven yet again that our strategy of maintaining quality partnerships and long-term cooperation with our tenants is mutually beneficial. I would also like to recognize the CEE Estate asset management team, whose efforts and dedication throughout the negotiation process resulted in our first mutual success,” says Ziv Gigi, Managing Director for GTC’s operations in Romania.

City Gate is a high-end office building located in the North of Bucharest, with easy access to business and recreational facilities grouped around the Herăstrău Park and office hubs like Piața Victoriei. The facility offers 48,000 sq m of modern office space.

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