Murapol selling Warsaw site

Developer Murapol has signed a conditional agreement for the sale of an over 40,600-sqm plot of land located on ul. Posag 7 Panien in the Ursus district of Warsaw for PLN 40 million net. The transaction is to be finalized later this year provided that the Warsaw City Hall does not exercise its preemptive right to the property. Murapol acquired the site in question in March 2018 for PLN 30 million net. The company planned to develop a residential project comprising 766 apartments (with a total of approximately 33,100 sqm of usable space) in the location, but has now decided to offload the plot citing the “optimization of financial flows” as the main reason. The developer explained that the land cannot be developed any time soon.

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