The Polish Real Estate Holding (PHN) is teaming up with mLocum, a subsidiary of mBank, for its high-end Molo Rybackie residential project in the city of Gdańsk. The agreement, signed Thursday, will allow the investor to started construction of the project’s first phase, which includes six apartment buildings on Hryniewickiego street. Owned by PHN, the plot already has a zoning plan in place, permitting development of 70,000 sqm of commercial space and 120,000 sqm of residential space. Flats are set to go on sale in the second quarter of 2016. The agreement with mLocum is a part of PHN’s wider strategy to secure JV development partners for its land bank spread across the country.
