The telecommunication giant Orange is putting its Warsaw real estate portfolio on the market. It acquired the 37 assets as part of its purchase of the state-run company Telekomunikacja Polska. The portfolio is said to be worth PLN 500m.
“The new strategy envisions optimization of space occupied by the company,” Wojciech Jabczyński, spokesperson for Orange Polska told Gazeta Wyborcza daily.
“Technological progress is reducing the amount of space required for the company’s operations.”
Orange’s real estate holdings include 550 assets in all scattered across the country, including individual commercial buildings and complexes, residential buildings, warehouses and a hotel. Among the most valuable pieces of the Warsaw portfolio is a five-storey building, located in on Nowogrodzka street. Offering 4,500 sqm of space, the buildings stands on a 850 sqm plot. Orange says it’s already in talks with developers, hotel operators and international investors about the sale.
