Develia gets almost PLN 0.5bn for Wola Center office

Develia has finalized the sale of the Warsaw office building Wola Center for €101.9 million net (about PLN 435 million), the company said. The buyer of 33,300 sqm of the building is the Hines European Value Fund.

“The sale of the Wola Center office building is a consequence of our strategy in the commercial segment consisting of building, commercializing and selling investments. We plan to sell another building by the end of the year – Wola Retro. We plan to start at least one commercial investment per year,”  Michał Hulbój, the president of Develia, commented.

Develia (formerly LC Corp) controls a group of special-purpose development companies that implement residential and commercial projects in the largest cities in the country. The company has been listed on the WSE since 2007.

(ISBnews)