The Austrian investor and developer Immofinanz started work on its first office scheme in Poland this month. Called Nimbus, the project broke ground on Aleje Jerozolimskie street in Warsaw and will add 19,000 sqm of leasable space to the local market. The investment is worth €27m. Immofinanz hopes to have the project opened by August 2014. The builder, Porr, Polska is overseeing construction, while CBRE and DTZ will be responsible for marketing.
“Poland remains an attractive investment target for the new projects – those of high-quality and well-located – that’s why it’s important for us to follow this trend, while operating in this area,” said Eduard Zehetner, head of Immofinanz Group.
Immofinanz entered the Polish housing market in June, with its Dębowe Tarasy III project, which is currently underway in Katowice. It also announced plans for a retail project called Tarasy Zamkowe in Lublin.
Immofinanz has a total of 198,737 sqm in 18 buildings under management in Warsaw, making it one of the biggest investors in Poland.
