The Turkish government bought the Rakowiecka City office building in Warsaw’s Mokotów district for its new embassy headquarters. The property had recently been renovated by its previous owner, the state-owned Polish Real Estate Holding (PHN). The value of the transaction was not disclosed.
“Our strategy is to deliver high-quality office space to the market. Most of our investments are developed to produce stable income for the company, but we consider every purchase offer,” said Włodzimierz Stasiak, the PHN board member responsible for finances. PHN’s portfolio includes projects like Świętokrzyska 36, Intraco, City, Kaskada City and Port Rybacki in Gdynia. The investor recently completed the Foksal City office project and launched the development of Domaniewska Office Hub.
