Fueling the housing market
Villa Daglesia, Petro Invest's residential project, will soon be added to the portfolio of luxury, low-rise estates in Warsaw's Saska Kępa, a district known for its numerous green and peaceful areas.
The three-and-a-half-storey development will contain only six apartments, consisting of between 119 and 180 sqm, as well as one 170-sqm penthouse. The building was designed by a Włodzimierz Mucha, a Warsaw-based architect who won a design contest organized by Petro Invest and the Association of Polish Architects (SARP).
Construction work on Villa Daglesia has already begun and, according to its investor, will be completed in October 2007. Sale of the development's apartments will begin on March 15. According to Petro Invest, apartment prices will begin at around zł.16,000 per sqm.
This is Petro Invest's first housing investment; in the past, the firm operated 21 gas stations located in central Poland, of which it owned seven. Wojciech Niewiadomski, the company's president, said that Poland's economic boom has encouraged the company to change its profile and begin developing residential projects.
"We sold our petroleum infrastructure to a Scandinavian company and decided to completely focus on the residential real-estate sector," said Niewiadomski. He added that the company's next residential development project will be carried out in Zakopane.
"We already have all the plans prepared and construction will kick off soon," said Niewiadomski. "In addition, another development in Warsaw will be located in either Powile or in Saska Kępa again."
