In an effort to streamline its development process, the Polish State Railways PKP has established an investment vehicle called Xcity. The company will cooperate with developers to commercialize the state-owned company’s enormous land bank. PKP investment director Maciej Król will head the new division.
“Our exposure in Poland’s real estate sector had grown to 18 projects currently underway, worth PLN 13bn, but the plan is to provide about 20 projects per year. With Xcity, we aim to increase our efficiency of this process,” said Jarosław Bator, a PKP board member. PKP revealed it is currently considering 14 investment projects, worth PLN 9.7bn.
