AFI Europe Poland summarizes its current results and strategy for dynamic growth. Between 2022 and 2024, the company successfully introduced five PRS (Private Rented Sector) projects to the market, offering 746 apartments in major markets in Warsaw and Kraków. The total portfolio of apartments offered as a comprehensive accommodation service will increase to nearly 1,700 units by the end of the year, simultaneously expanding to a new market for the company in Wrocław.
The foundation of the company’s investment strategy is the long-term growth in the value of its assets within a portfolio focused on three key segments of the commercial real estate market: professional rental of apartments (PRS), office space, and multifunctional projects in the mixed-use segment.
“We feel equally comfortable as a developer, investor, and manager of our assets. Our investment portfolio includes modern Class A office buildings, developed in the spirit of sustainable construction, as well as historical buildings that we restore to the city in a new form. Our investments are developed with a long-term perspective in mind, so we focus on projects that offer modern and ecological solutions, creating lasting value for investors and local communities,” comments Sebastian Kieć, CEO of AFI Europe Poland.
Activities and plans in the professional rental housing segment
The AFI Home Poland platform began its operations in Poland with the launch of its first residential project in the PRS model in 2022: AFI Home Bagry (132 apartments) in Kraków’s Podgórze district. Subsequently, in the first half of 2023, two high-quality revitalizations of tenement houses were presented: AFI Home Złota 83 (146 apartments) in the centre of Warsaw and AFI Home Dajwór (23 apartments) on one of the most attractive streets in Kraków’s Kazimierz district. Restoring the former glory of historic buildings is an important element of the company’s strategy, allowing for long-term value growth and recognition in the market. Later in 2023, the company expanded its PRS asset portfolio with two more investments: AFI Home Osiedle Europejskie in Kraków (219 apartments) and AFI Home Metro Park in Warsaw (226 apartments).
Under the AFI Home platform, the company plans to introduce over 900 units in three new investments by the end of 2024: AFI Home Metro Szwedzka (part of the Bohema complex) in Warsaw’s Praga-Północ district, AFI Home Czyżewskiego in Kraków’s Krowodrza district, and AFI Home Długa in the Old Town of Wrocław.
“By the end of 2024, we plan to launch three new investments within the AFI Home platform, which will allow us to expand our offering to nearly 1,700 apartments. The launch of the AFI Home Długa project also marks our entry into Wrocław, the second-largest market in Poland for professional rental housing. In the following months of 2025, we will be ready to systematically introduce over 500 additional units to the market with the AFI Home Metro Zachód investment in Warsaw,” comments Michał Stępień, Deputy CEO of AFI Europe Poland and Head of AFI Home.
Activities and plans in the office segment
AFI Europe Poland is the owner and manager of two office projects in Poland: V.Offices in Kraków and T-Mobile Office Park in Warsaw, which together offer nearly 70,000 sqm of office space. The office buildings boast BREEAM environmental certificates at the Outstanding and Excellent levels. In 2024, the company extended leases with existing tenants for a total area of nearly 18,000 sqm and began modernization work on the office building at Marynarska Street 12 in Warsaw’s Mokotów district. The building gained fitness and relaxation zones, and a green pavilion planted with greenery is also planned in the courtyard in front of the building, which will serve as a space for informal meetings.
“In line with trends that increase long-term value and improve employee comfort, we have planned a range of new amenities at T-Mobile Office Park to meet the needs of local employees. We also aim to shorten their commute time to work, which is why we decided to co-finance the reconstruction of Suwak Street. In about six months, a new 600-meter road, sidewalk, and bicycle path will be built here, significantly improving traffic flow and commuting comfort in the area,” comments Grzegorz Jamroziak, Head of Commercial Asset Management at AFI Europe Poland.
AFI Europe Poland plans to continue work on the Office House project in the second half of 2024, which is part of the Towarowa 22 city-building project in Warsaw. The nine-story building, with an area of 31,000 square meters, is being developed according to the requirements of the BREEAM Outstanding Environmental Certificate, which translates into great interest among potential tenants. Its completion is progressing according to plan, with its opening scheduled for spring 2025.
Activities and plans in the mixed-use segment
AFI Europe Poland is eager to engage in large-scale joint projects with experienced, nationwide developers. The company is the majority owner of the Towarowa 22 multifunctional project in Warsaw’s Wola district, in which it holds a 70 percent stake, in collaboration with partner companies Echo Investment and Archicom. The multifunctional project will include offices, rental apartments (under the AFI Home brand) and for sale, dining venues, service points, as well as public spaces. It will be a city-building and accessible city block with a centrally located public park, designed according to an innovative concept with trees growing through former production halls. In total, on an area of 6.5 hectares, buildings with a total area of about 200,000 sqm will be constructed, and the entire project will be completed by 2028.
The company is also the investor in three stages of the Bohema project being implemented by OKAM Capital – as part of the revitalization of the historic buildings of the former cosmetics factory in Warsaw’s Praga district. The three residential buildings at AFI Home Metro Szwedzka will house 371 apartments, and two office buildings will offer a total of 9,000 sqm of office and retail space. The project includes space for a large retail operator, as well as numerous cafes, restaurants, and service points to meet the needs of the local community. The entire project will fulfil diverse functions combined with the historical character of the place, culture, and entertainment. The first apartments in the project will be ready for occupancy by the end of September 2024.
