Polish State Railways’ real estate sales volume expanded by 10.6 percent in the first half of the year to PLN 46.4m, up from PLN 41.5m posted in the same period last year. The company said its sales revenue should hit PLN 236m by the end of 2014.
While it continues offloading real estate, PKP will also focus on development projects in strategic locations across the country. This includes the company’s Warszawa Gdańska project, which will be overseen by the developer Ghelamco. Worth PLN 2.2bn, the investment is set to kick off in 2016.
In the meantime, the Warszawa Zachodnia project is set to launch within the next two months, a project PKP selected the Slovak developer HB Reavis to lead. The investment involves the modernization of the railway station and the development of an office complex. The railway station renovation is expected to be completed by the end of 2015, followed by the first office building, due for delivery in the fourth quarter of 2016.
