Marvipol Development plans to build a total of approx. 500 residential and commercial premises on a plot acquired from Capital Park, the developer said.
The purchased property, located in Warsaw’s Ochota district, at Aleje Jerozolimskie, has an area of nearly 6,000 sqm and has a building permit. The transaction value is EUR 20 million net. Marvipol plans to build a total of approx. 500 residential and commercial premises, according to the company announcement.
“Marvipol is gradually expanding its land bank. Last year, we purchased 6 properties for multi-family housing in dynamically developing cities: Warsaw and Wrocław. This is the fourth real estate purchase transaction in 2021. The purchase of land in the Ochota district will allow us to implement an interesting, multifunctional investment in This location is a natural decision, the aim of which is to strengthen our position in the capital city market,” said vice-president Grzegorz Kawecki.
“It is a land with great commercial potential, which is expanding our Warsaw land bank. We have an appetite for more and we are working successively on expanding the portfolio of land in key locations in Poland,” added Tomasz Olęcki, director of the real estate department.
Source: Marvipol and ISBnews
