Polnord has sold its 50-percent stake in Galeria Wilanów project to Globe Trade Centre this week. The scheme is the biggest shopping mall on the Wilanów district, Warsaw’s prime housing location, where Polnord is a strategic investor. GTC will be now leading the retail project, that’s designed to bring 80,000 sqm of new space to the market.
At the moment, 60,000 sqm is planned for the project’s first phase, that’s said to cost €160m. Construction on Galeria Wilanów is set to start as soon as the building permit is issued and to be completed within 18 months. The primary catchment area of the mall includes the most affluent housing districts of Warsaw such as Ursynów, Wilanow and Sadyba, as well as a prestigious resort area in nearby Konstancin.
