Four stars for businesspeople

WSE-listed real estate investment firm, Europejski Fundusz Hipoteczny (EFH), has unveiled details of its new investment project - a four-star hotel to be located in Warsaw's Ursynów district. The company secured rights to a plot worth zł.10 million and has scheduled the beginning of construction for August this year. 

The zł.80-million investment is estimated to be completed within two years and it is set to provide between 160 and 180 rooms in a 13,500-sqm building. The hotel will also feature a conference center. It will be located on ul. Łączyny in the vicinity of Służewiec Racetrack.

"The underinvestment in high-standard hotels located close to business centers has been noticeable along with the recent years' development of the region. The ul. Poleczki neighborhood is one of the fastest-developing places of this kind in Warsaw," said Marcin Podobas, the deputy CEO of Europejski Fundusz Hipoteczny.

The neighborhood has so far garnered less attention than others, due to its relatively long distance from the capital's downtown. However, the newly opened extension of the nearby Poleczki street, which provides easy access to the airport, as well as the proximity of numerous new business parks along Puławska street make it a potentially attractive location.

The four-star hotel will mainly target businesspeople, but it also hopes to draw business from sports and cultural events held in the racetrack complex. EFH is currently conducting negotiations with potential hotel operators.

The architectural design is being prepared by the architectural studio of Robert Drzazga, Andrzej Błażewicz and Piotr Wyrobek. The name of the main contractor has not yet been disclosed.

EFH was established 14 years ago. It concentrates its investments in the high-standard hotel sector. Currently, it is developing several hotel projects with a total value of over zł.300 million. The company debuted on Warsaw Stock Exchange on December 21, 2007.