Pirelli hopes to take pole position in property sector after joining up with Pekao SA

Both corporations have vast experience in the sector, with Pekao SA owning Pekao Development while the Italian investor has a subsidiary called Pirelli Real Estate which specializes in investments in the sector. Pirelli has acquired a 75% stake in Pekao Development. "The new company, Pirelli Pekao Real Estate, has already received permission from the Competition and Consumer Protection Office. 75% of the company belongs to Pirelli RE and 25% to Pekao," said the bank's president Jan Krzysztof Bielecki. Carlo A. Puriegri, the president of Pirelli RE announced that the newly formed company will fight to become the number one player on the housing market and said that part of the investments will be devoted to commercial real estate. (Puls Biznesu, p. 12) A.K