G City delivers new PRS project in Warsaw

G City – an owner, manager and developer of retail and residential rental properties in Central Europe – has received the occupancy permit for its latest residential development located on Ostrobramska Street in Warsaw, next to the Promenada shopping centre. The development comprises approximately 250 apartments, which significantly increases the scale of G City’s operations on the Polish PRS market.

The newly completed residential building is located right next to the Promenada shopping centre, giving residents direct access to the wide range of retail and services and coworking space available within the complex. This is G City’s third residential building in the area – the previous two buildings are fully leased. The company currently manages a portfolio of around 1,200 rental flats in Poland, the vast majority of which are located in Warsaw.

“We are consistently developing our portfolio of apartments for rent in Warsaw, responding to the growing demand for modern, well-connected places to live,” comments Marek Staszczuk, Head of Residential G City Europe. “The new building near the Promenada centre is another step forward in executing our long-term strategy to build a strong presence in the PRS segment. The recent acquisition of a plot of land in the capital’s Wola district will enable us to further expand and create a diversified offer in the city’s most desirable locations.”

The Ostrobramska Street development is part of a wider development plan in which G City is integrating its expertise in the retail sector with the rapidly growing institutional rental segment. Thanks to the synergy between retail and residential functions, the company is creating modern, convenient and well-connected places to live that meet the needs of modern and urban residents.