You have created your company at the end of 2001

Investor specializing in French and Hungarian markets, Simon Roth plans to expand its operations in other European countries, particularly in Romania, Czech Republic, Slovakia and Russia. This businessman is Hungary end 1997 with a team of 4 people to lead a company owned by the Israeli Ofer Brothers group. Called Duna Plaza, the company had in Budapest 40,000 square meters in a large shopping centre and an Office of 20,000 building metres square with public spaces, all representing 50 million euros. In three years, Simon Roth developed 26 projects including two other shopping centres, four hotels including the Meridian, six office buildings, a logistics centre for deliveries, with the value of the portfolio to EUR 300 million. In the late 2001, he left Ofer Brothers to create its own structure with two associates Israelis, Elco Electra and Ganden, both sides in the stock market of Tel Aviv. The new company, called "Ganel", recorded in Amsterdam, has invested in two years in three major projects by the GSE group for French users: Auchan and Renault in Hungary and Renault Trucks in France in Limoges.

You have created your company at the end of 2001. That you made since that date, and how do you fund your projects

We delivered since the inception of our company in October 2001 80,000 square metres of industrial and logistic tertiary surfaces representing more than 200,000 square metres of land right-of-way, divided into up to 38,000 m2 in Hungary, near the international airport of Budapest, where Auchan, our tenant for ten years, has installed its logistics centre.

The second project was to establish an engine plant in Limoges on 23,000 square metres. These industrial buildings opened in October 2003 are intended for Renault Trucks, which is engaged in a 12-year lease. Our third project site starts to install Renault to Gyri, Hungary, to halfway to Vienna and Budapest. We will deliver in August at the French car manufacturer the first phase of 19.500 square metres of a program for which we are planning an extension of 11,000 square metres. Our contract is for seven years with an extension option.

We are competitive and followers of flexibility of the leases.

We keep these buildings, a value of EUR 45 million, in the portfolio. We have financed from own funds with additional bank loans.

How you get these projects

On these three projects, we assess the risk, find a tenant with which we are signing a letter of intent, buy the land for its program and are appealing to the French Builder GSE for turnkey delivery. GSE is the specialist of the logistic building with an already built fleet of 23 million square metres not only France, but in the rest of Europe, as well as in China and the Mexico.

What are your prospects for development

We want to increase our portfolio and invest in other projects in France and in Europe. We are currently studying the feasibility of construction in Czech Republic, Slovakia, Romania and Ukraine. The most advanced projects are in Bratislava, Slovakia, and Romania, in Bucharest. The evolution of the countries of Central Europe generates important logistical needs.

Entry into the European Union in these new countries may justify investment in specific real estate products related to the distribution and industry. Clearly, the rates are higher than those of other products of real estate business.