Unidevelopment, the development arm of the Polish group Unibep, confirmed this week that it intends to convert its Wola House office project into flats. The original plan was for the construction of a 15-story building. The new plan for the plot at Al. Prymasa Tysiąclecia 79 street envisions 338 flats. The construction is expected to start in May or June, with completion set for 2017.
“The Warsaw office market is highly competitive at the moment, including the city’s Wola district, which would make it difficult for us to compete with the biggest projects in the area,” said Sławomir Kiszycki, the finance director for the group, adding that his company expects at least two more years of upturn in the Polish resi sector.
The company recently offloaded the third phase of its Osiedle Czarneckiego project in Poznań to the Polish investor Bank Gospodarstwa Krajowego (BGK), which acquired the project in an effort to add it to the local rental housing market.
