A Belgian Real Estate Developer Starts Invest in Poland
A Belgian real estate developer starts its activities in Poland. It will build a shopping center together with a Polish partner.
Belgians also want to work at a residential project in Warsaw. Since 2006, the company has provided 250,000 sq m of premises for rent and almost 600 housing units. More to come in the nearest future.
Poland is next
“We are willing to develop retail in Poland. It demonstrated a stable economy leading to the growth of the real property market. We decided to be present in the shopping center sector because consumption is growing here rapidly. Overall, the situation with people’s wages keeps on changing to the better driving positive customer moods. We are ready to invest in an outstanding shopping destination”, says Equilis representative.
This will be the first contemporary shopping center in the city without similar facilities. It will have about 17,500 for 55 shops. Also, it will be possible to park 500 cars here. The place is expected to turn into the leading shopping place for people living within a 45-minute driving distance, including those from the neighboring states.
Partnership of two giants
The whole construction will cost about EUR 30 million.
“This is one more project which we implement together with a significant investor. Now we will use our experience in the shopping center sector in Poland with international expertise of the Belgian company. About 70% of space is already given for rent, which is a good sign”, says Acteeum representative.
Acteeum gained experience in seven retail projects providing 250,000 sq m for rent. This time construction activity will start in 2018 and be finished by the end of 2019.
Equilis enters Warsaw
There is another big residential project which Equilis will run in the Polish capital. Currently, the company is expecting the finality of administrative procedures and the permit to build.