In a move aimed to strengthen their position within the Polish property sector, two
state-owned groups, the Polish Real Estate Holding (PHN) and Grupa Waryński are looking to cooperate closely. The companies have just signed a letter of intent to provide a joint strategy and the due diligence process currently underway is expected to take a month to complete. Listed on Warsaw’s stock market, PHN holds a portfolio of 140 real estate asset, along with a 700 ha of land holdings spread across the country. Owned by the state-run Mars TFI fund, Waryński Group now has three projects underway: EQlibrium offices and two residential schemes, Stacja Kazimierz,and Miasto Wola.
