Europe's crossroads
at the MIPIM international real estate fair in Cannes last month, touting their rich cultural heritages and abundant investment opportunities. Located in the heart of Central and Eastern Europe, the cities presented themselves as some of the region's most vibrant business center.
Wrocław and Poznań, Poland's fourth- and fifth-largest urban centers and the capital cities of the Lower Silesia and Wielkopolskie voivodships, respectively, stole investors' attention at the recent MIPIM real estate fair in France, proving that a sizable chunk of developers' activity is now centered outside of Poland's capital.
In a bid to exploit the promotional opportunities offered by the event, the cities' top officials participated in dozens of talks with potential domestic and foreign investors. As Wrocław Deputy Mayor Adam Grehl pointed out, his city's presence in Cannes was not only meant to acquaint businesses with its investment climate, but also to make sure that Wrocław's offer was well-suited to their needs. "One of the reasons for being here is to get information on what investors expect from us," Grehl told Lokale Immobilia.
Vibrant economies
In their MIPIM offers the cities stressed their status as some of Poland's fastest-growing secondary cities. Wrocław and Poznań presented themselves as centers of innovation and took pride in having knowledge-based economies that have already attracted a large number of leading international companies.
"As a fast-developing financial, technological and logistics center, as well as a Euro 2012 host city, Wrocław is a highly attractive place for investors," said Anna Paździor of Wrocław's Real Estate and Maintenance Department. "The presence of many institutions of higher education ... ensures easy access to well-educated human resources, including engineers," she added.
Wrocław and Poznań also stressed location and infrastructure as key assets. The two cities lie at the crossroads of crucial international routes and afford easy access to all of the CEE region's capitals, and representatives touted the proximity of neighboring markets as a strong advantage. They also boasted of their well-developed transportation infrastructure, including international airports, motorways and railway connections.
Plots for sale
Like most Polish cities at MIPIM, land was at the core of Poznań's and Wrocław's investment offers. "We have prepared nine investment offers on plots whose values have already been appraised and whose intended use and method of development have been specified. We expect tenders for the sale of those plots to take place in April," said Krzysztof Jonczyk, director of Poznań City Hall's Department of Real Estate Management.
Meanwhile, the bulk of investors' interest in the cities was focused on office and hotel developments, the demand for which currently exceeds supply.
"We have recorded considerable interest ... in the possibility of developing office and hotel space in Wrocław. The latter type of investment is particularly necessary, not only in the context of the upcoming Euro 2012 soccer championships, but also because of the fact that the lack of hotel rooms is already evident," said Paździor.
According to Poznań's authorities, particularly attractive locations were proposed on ul. 27 Grudnia in the city center, as well as on ul. Jasna, ul. Jasna-Łubieńska, ul. Łubieńska and ul. Bułgarska in Poznań's Marcelin district. The former offer, comprising two plots whose area totals 2,573 sqm, calls for the construction of residential and service buildings. The four Marcelin plots, offering a total of 28,000 sqm, are expected to host apartments and offices, as well as service and sports facilities.
One of Wrocław's most attractive investment offers included a 7.5-ha plot on ul. Legnicka, on the western side of the city center, which will host an office complex. A number of development sites for hotels were also offered. Investors also enquired about the possibility of developing underground parking lots in the city.
Landmark architecture
Wrocław's and Poznań also showcased a few already decided-upon projects that are expected to boost their respective profiles. Poznań boasted designs for two new high-rise buildings, including the Daniel Libeskind-designed Korona Tower, the erection of which, Poznań's authorities hope, will bring considerable prestige to the city.
"In the era of inter-city competition, Daniel Libeskind's project is highly significant in terms of prestige. The name of a world-renowned architect as well as the designs of modern and interestingly shaped buildings drew the attention of fair participants," said Sebastian Bedekier, head of Poznań's Investor Relations Department.
Disclosed for the first time to the public was a preliminary concept of the Silver Tower project. Designed for Von Der Heyden Group by the Ewa & Stanisław Sipińscy Architecture Studio, the building will be located on Pl. Andersa, nearby the existing Andersia Tower. At 116 meters high, Silver Tower will be the tallest skyscraper in the city, once completed. The final design of the tower is expected to be prepared in six months and construction of the project, whose value is estimated at E65 (zł.228) million, should be finished in 2012. Silver Tower will mainly accommodate offices and service outlets within its 45,000 sqm of space.
For its part, Wrocław stood out in Cannes with its Hilton hotel project, which received the MIPIM Architectural Future Project Review Award in the "Retail and Leisure" category. Designed by the renowned Paris-based Gottesman-Szmelcman Architecture SARL architectural studio, the building will be constructed near the historic
Pl. Dominikański in the city center. Featuring a futuristic shape devoid of right angles, the project will host a Center for Contemporary Media and a jazz club in addition to its function as a hotel. Delivery of the project is scheduled for 2010.
