Eiffage Immobilier Polska has appointed Savills to seek an investment partner for the development of a bespoke 453-unit build to rent opportunity in Warsaw within a secured development pipeline of over 2,300 units across Poland’s top five cities.
Due to be delivered in Q1 2023, PRogress Spot Warsaw features 16,191 sqm of usable area and is located at 5a Postepu Street in Mokotow, one of the most affluent residential districts in Poland’s capital. The project pipeline consists of a further 2,300 residential units in Warsaw, Cracow, Wroclaw, Poznan and Gdansk, with each city having more than 500,000 inhabitants.
Kamil Kowa, Director, Savills Poland Board Member and Head of Corporate Finance & Valuation, says: “Warsaw has experienced a steady increase in population numbers and projections suggest that a further 66,000 people will live in Poland’s capital by 2030. Affordability constraints and changes in attitude in Poland towards renting are underpinning the ongoing growth of the Private Rented Sector, making this a fantastic opportunity for investors to enter the market at this point in time or to expand their existing PRS portfolio.”
Aurelio Di Napoli, Director, Savills Operational Capital Markets, says: “Poland is one of the most under-supplied residential markets in Europe. With the residential market proving to be one of the most resilient sectors during the Covid-19 pandemic, this is a rare opportunity for investors to work with one of the most prestigious construction companies in the world.”