WBJ: How does INWI see the potential for further growth in 2022?
Daniel Radkiewicz: The solid analysis allows us to look for new opportunities. Our team constantly analyzes factors that have the greatest impact on land prices. Another important factor is the shrinking supply of available plots in large cities. The land banks available to developers have never before been emptied so quickly. The need for new projects is extremely strong, so the outlook for us in the process of acquiring new land is really good. INWI is a rapidly growing company, which employs (and is still searching for) experts with many years of experience, who excel in the field of investment land. Our knowledge, supported by numerous successes, allows us to analyze the real estate market in a wider context. As a result, in the last three years, we have finalized land purchases worth over PLN 250 million and further transactions are planned for this year.
We are seeing increased interest in land that is less obvious. Do you engage in the purchase of such land?
Absolutely! We consider each opportunity individually. We often take up a challenge regardless of the difficulties or possible complications. The solutions we find are often unconventional. Owners of land and buildings sometimes do not realize how valuable their property is. Our price offers positively surprise them. INWI uncovers the potential of the land, finding the most optimal form of use for the location, which is the most advantageous legally and business-wise. Landowners (companies, individuals) often reach for a mortgage, go into debt and do not realize that they have a huge capital hidden in their land. The options for landowners are many: selling an unused piece of land, expanding or demolishing a building complex. We are proactive, often finding a new location ourselves for the seller who can profitably dispose of the property and relocate their business. Many companies do not need a central location while relocation is financially advantageous.
What locations are most desirable then?
Basically, all of them. We focus on the centers and the suburbs of large cities, as well as well-connected areas located at major hubs of motorways. Interestingly, there is still a lot of land in cities that have the potential to be converted from its current use, e.g. from services to residential use. It also happens that large companies operate only on part of the property, the facilities are outdated or part of the land remains unused. This type of land in the central districts of cities is nowadays worth its weight in gold.
Daniel Radkiewicz is the founder and president of INWI which invests in the land, residential, office, retail and logistics real estate sector. He has 15 years of experience in the real estate market and gained valuable experience in project management in Warsaw and Paris.