The Polish businessman Marek Falenta revealed he intends to merge his land bank under a new company and debut it on the Warsaw Stock Exchange later this year, the business website parkiet.pl reports. Market watchers say that new vehicle will resemble the state-run Polish Real Estate Holding (PHN).
“We own a nearly 100 ha land bank which we want to commercialize, both with office, retail and hotel space,” says Falenta, adding that he’s currently looking for a WSE-listed company to put his land bank into. The land will be used for development projects, which will eventually be added to Falenta’s new fund.
The biggest project to be led by Falenta will be 550,00 sqm commercial scheme to go up on a 20ha plot site in Poznań. The investment is reportedly worth PLN 400m, adding 80,000 sqm of office space to the region. At the same time, Falenta, is looking to develop 50 retail parks around Poland on plots he controls. His first would be a 7,800 sqm scheme in Warsaw.
