Ghelamco with €221-mln loan for huge Warsaw project

Image: Ghelamco Poland

Developer Ghelamco Poland has secured €221 million in bank financing for its ongoing The Warsaw HUB mixed-use project in the Polish capital, which is the biggest scheme in the company’s history. The loan has been granted by a consortium of five banks: Bank Zachodni WBK, Pekao, PKO Bank Polski, Raiffeisen Bank Polska and Bank BGŻ BNP Paribas. “We are happy that once again Ghelamco has won the trust of the leading banks in Poland. Obtaining such large bank financing for building The Warsaw HUB confirms the developer’s stability and reflects the project’s attractiveness,” said Jarosław Jukiel, the chief financial officer at Ghelamco Poland.

Located in the quickly developing Rondo Daszyńskiego area of the Wola district of Warsaw and scheduled to be completed in early 2020, the 113,000-sqm The Warsaw HUB project will comprise offices, a conference center, three- and four-star hotels, and retail and service areas. The complex will consist of three connected buildings – an 86-meter hotel building and two 130-meter office towers. Ghelamco Poland will soon be able to announce the first lease agreements in the scheme, said commercial and business development director Jarosław Zagórski.

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