Murapol buys more land in Warsaw

Developer Murapol has signed a conditional agreement for the purchase of perpetual usufruct rights to more than 40,600 sqm of undeveloped land located on ul. Posag 7 Panien in the Ursus district of Warsaw. The value of the transaction – which is expected to be finalized by March 15 this year unless Warsaw City Hall exercises its preemptive rights to the property – will amount to PLN 30 million net. Murapol plans to develop a major residential project on the site, which will comprise 766 apartments with a total of approximately 33,100 sqm of usable space. The company is currently selling housing units in three schemes in Warsaw: Murapol Atrium Służewiec, Murapol Ordona and Murapol Parki Warszawy.