The Polish Real Estate Holding (PHN) has terminated its letter of intent with an undisclosed developer it had picked to oversee the Port Rybacki project in the city of Gdynia. PHN initiated talks with potential partners last year for the 10 ha artificial pier on Zatoka Gdańska, neighboring the high-end apartment building Sea Towers and the Gemini Culture and Leisure Centre. PHN has already secured the zoning for 70,000 sqm of commercial space and 120,000 sqm of flats.
“The decision to terminate the letter of intend resulted from the fact that the parties have failed to reach the agreement on the key terms of the corporation,” PHN wrote in a statement, adding that it still intends to move forward with the Port Rybacki project.
