Global City Residential - a 65 billion euros investment

Bucharest, May 15, 2008- Developer Global Finance and exclusive selling agent Colliers International announce the launch of a new residential project - Global City Residential, through the Real Estate division, Global Emerging Property Fund, through a 65 million Euro investment. The project includes a second phase of residential estimated at 55 million euro.

The residential complex is part of the Global City mixed use project which also includes the Business Park, comprising Class A office spaces. The total value of the Global City project is 200 million Euro.

"By means of its modern design and architecture, Global City Residential desires to imprint its personality on the urban environment. That is why we have created a project emphasizing the quality of design and materials used, with unique character and contemporary atmosphere. It will appeal to people connected to the latest trends who are interested in their personal and professional evolution. Global City addresses those involved in a dynamic lifestyle, living at a fast pace and who need an upgrade that will bring them closer to the way of life of a true European capital," states Ms. Ivana Bozjak, Partner in charge of the Global Finance Real Estate division.

The functional layout represents a modern take on the Mediterranean style, offering minimalist design with generously proportioned spaces. The large living rooms and glass-encased kitchens create a powerful visual effect, typical of light and airy architecture.

The inner courtyard, with gardens, pergolas and water features or wide terraces are other modern elements of Global City Residential which distinguish this project, creating a genuinely Western European quality urban space.

Global City will be made up of four buildings, comprising 381 units with surfaces ranging from 50 sqm to 200 sqm, divided into 40 studios, 142 two-room apartments, 99 three-room apartments, 86 four-room apartments and 14 duplexes. The total surface of the land allocated to the new ensemble in the North of Bucharest is 22,204 sqm.

In terms of accessibility, the conveniently located Global City provides quick access to the two city airports as well as to the Piata Victoriei and Piata Charles de Gaulle areas.

Global City Residential is also well positioned due to its proximity to several ongoing large scale infrastructure project in the area. Thus, the nearby Bucuresti-Nord Boulevard will be enlarged to four lanes, while design and construction has also begun on the new four-lane Octavian Goga Boulevard which will connect Soseaua Bucuresti-Nord with the outer beltway. All of these ongoing projects and the prospect of the new Bucharest-Brasov highway (continuing the Sun Highway) contribute to the obvious advantages of living in Global City, as they will allow easy traveling to and from Bucharest as well as to attractive tourist destinations like Constanta or Valea Prahovei - Brasov.

Renowned companies have been involved in the assembly of the Global City project, including concept architects ISV Architects & Associates from Greece, West Group Architecture, the team of architects responsible for the implementation of the project in Romania, Gardiner & Theobald, Project Manager and B&A Construct, as a general contractor.