BGK to invest in over thousand apartments for rent in 2015

Poland's state-owned Bank Gospodarstwa Krajowego will invest in over thousand rental apartments next year and 2-5,000 in 2016, bank's capital investment department head Piotr Kuszewski told the Polish Press Agency. This year, the number will stand at “few hundreds,” Kuszewski said. “Letters of intent are signed and we are running due diligence of a few projects,” he added. The bank now expects the fund to generate an annual return above the initially assumed 4%, the official also said. The housing rental fund is expected to invest PLN 5 billion in housing projects it will then rent out, and plans to spend several hundred million PLN already in 2014, BGK officials indicated earlier.