Hochtief Development Poland intends to buy land in Warsaw where the Powiśłe heat and power plant used to stand from the Irish developer Menolly. According to the zoning plan, a new retail and office complex can be built in the area, along with flats. “The talks with Menolly are now underway, though none of the details can been revealed,” says Piotr Stark of Hochtief. Menolly acquired the 4.3ha on the Warsaw’s Powiśle district bank 1995 for PLN 130m, and started building and selling high-end flats designed by the famous Stefan Kuryłowicz architectural studio. At one point, the flats were selling for PLN 40,000 per sqm.
