Trei Real Estate enters the Polish housing market
Trei Real Estate GmbH (Trei), a property developer and asset holder specialising in residential and retail real estate, has entered the housing development business in Poland and kicked off the sales drive for condominiums in Wroclaw. The developer’s first project is located at Marcelego-Bacciarellego 54 in Wroclaw. By the time of its completion, it will provide a total of 280 apartments, distributed across fourteen three-storey houses. The residential buildings will be developed in Biskupin-Bartoszowice, a district in the eastern part of the metropolis. The quarter counts among the preferred residential areas of the city, which is the capital of the Lower Silesia voivodeship. The initial sales drive puts the 62 apartments of the first construction stage on the market. They are located in either of two buildings that are slated for completion by fall of 2019.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “So far, our efforts in Poland used to focus on the development of retail real estate. By entering the condominium development market, we are diversifying our business in the country. We consider this an attractive segment because Poland shows a shortage in high-quality residential accommodation.” According to research and valuation company Wüest Partner, Poland has a pent-up demand for roughly three million flats. Trei focuses on the country’s major cities, including Warsaw, Krakow, Gdansk, Poznan and Lodz. In addition to Wroclaw, the company already secured plots in Warsaw, Poznan and Lodz. “We are planning to raise a total of 1,600 residential units there in the years to come," Morshuis added.
Morshuis went on to say: “With the project at Bacciarellego 54, we are creating residential accommodation in one of the greenest and most popular parts of the city. Part of the concept is to develop only 30 percent of the plot of four hectares in order to ensure ample space for gardens and other kinds of green retreats. All of the apartments will feature either patios or balconies or else have access to the garden.”