BGK to have apartments for rent at end of October
State-owned lender Bank Gospodarstwa Krajowego (BGK) plans to have the first apartments in its rental program available by the end of October, the bank's CEO Dariusz Kacprzyk told the Polish Press Agency. It has recently signed letter of intent on the matter with four property developers.
“We have signed several 'hard' letters of intent on purchasing real estate, with four developers from three different cities,” Kacprzyk said. “Before May 21 we will sign at least one agreement guaranteeing pre-emptive rights.”
The CEO declined to disclose the developers names. He nevertheless admitted holding talks with a company from Warsaw. “We are mulling one Warsaw project that would involve buying 80 apartments,” he said.
BGK is working on launching the Apartments for Rent Fund, which will offer inexpensive housing for rent. The fund will purchase whole buildings. Within the next few years, the fund is expected to invest some PLN 5 billion.
