One year on Pirelli's calendar

After a year of operation under its belt, Pirelli Pekao Real Estate (PPRE) is realizing a raft of prominent development projects in Warsaw and throughout the country.

With such projects as Wilanów Park, Jarzębiny and Olszyny I and II in Warsaw already completed, PPRE - the product of a joint venture between leading Italian developer Pirelli Real Estate and Poland's Pekao Bank - has solidified its position among the largest players on the market. The company currently holds the spot of fourth-largest developer in the country according a the ranking from Reas Konsulting.

Product portfolio

In its portfolio of current projects, PPRE can boast of several high-standard commercial and residential developments in prominent locations in major cities. The largest ongoing PPRE projects are Okopowa and Banderia in Warsaw and Szafarnia in Gdańsk. Once the current projects are completed, the company's portfolio will comprise some 270,000 sqm of total space delivered.

PPRE has also purchased a 0.6-ha plot on the corner of ul. Grzybowska and Żelazna in Warsaw, where it is planning to build two apartment towers of 28 storeys each. The complex will offer around 380 apartments and include some office space, however, the design hasn't yet been formally approved. At present, PPRE is in the process of acquiring the necessary permits, and construction is expected to begin early next year.

Late last year, PPRE also entered a partnership with Cypress Grove International and Pirelli & C. Real Estate for the realization of five new real-estate ventures.

Plot twist

With regard to the recent report from The Wall Street Journal Polska regarding the company's plans to build a residential complex on a 370-ha plot near Huta Warszawa, the company emphasizes that it has not even purchased the plot yet. "We are interested in [acquiring] the plot, as are a number of companies, but we do not own it," said Ryszard Danielewicz, PPRE's president, who refused to comment further on the matter.

PPRE's has its sights set on several new investments in cities such as Kraków, Wrocław and Poznań, however, these projects are still in the preliminary stages of development and details have yet to be released.