Orco Property Group is planning to sell Złota 44 in Warsaw this year. The company said in a statement that its impairment losses hit €193m, of which €159m was due to Złota 44.
The company announced it will be focusing on restructuring its portfolio in Europe this year. Offloading Złota 44 is a part of its new strategy to increase the efficiency of individual assets in an effort to rebuild the company’s liquidity. The group posted a net loss of €164.3m last year, with revenues of just €145.9m.
