Marvipol acquires prime residential site in Warsaw

Warsaw Stock Exchange-listed developer Marvipol has signed a conditional agreement for the purchase of 6,000 sqm of land located on ul. Grzybowska in the quickly developing Wola district of the Polish capital where it plans to develop an upper-standard residential project with approximately 440 apartments. The transaction, which will be finalized if the Warsaw authorities do not exercise their preemption right to the site, is valued at around PLN 60.6 million. Marvipol expects to launch apartment sales in the planned scheme, which will comprise approximately 23,000 sqm of usable space, later this year. The company’s aim is to develop a building that will become one of the landmarks of this part of Warsaw, said Mariusz Poławski, member of the management board at Marvipol.

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