Odolany's appeal

Developer Dantex is working on a large residential project, named Dobrolin, in the Odolany area of Warsaw's Wola district. Although located relatively close to the city center, the area has until recently been mostly associated with vast swathes of undeveloped land, derelict industrial buildings, and disused railroad infrastructure.

Last year, however, investors such as BPH Real Estate, Home Invest, Sabe Investments, and PKO Inwestycje - in cooperation with Polish State Railways - either began or announced plans to commence construction of residential projects in Odolany. Dantex is now going to follow suit.

"We have bought a two-hectare plot situated between ul. Wolska and ul. Jana Kazimierza. Odolany offers plenty of attractive land belonging to industries that have either discontinued production or moved it elsewhere," said Sławomir Szczakowski, a manager from Dantex's real estate department. "Due to the size of the plots and their proximity to tram and bus lines, the land is a tasty morsel for investors," he added.

Dantex's investment will be a multi-family residential complex comprising more than 700 apartments and commercial outlets, developed in three phases. The first phase of the project will provide 221 units, most of which will be two-room flats sized from 45-54 sqm. According to Szczakowski, the estate will have its own tennis court and a swimming pool, available for the inhabitants' exclusive use.

The company already has a ruling on the conditions for development and is now preparing the final version of the project. It hopes to complete construction of the first phase of Dobrolin by Q2 2009. The rest of the flats will be delivered two years later.

Dantex has been active in the field of real estate investment for over a decade but specializes in office and commercial space. Alongside the Dobrolin housing estate, the company also plans to develop residential projects in Konstancin-Jeziorna. Dantex hopes to list on the bourse in early 2008.