PKO signs residential development deal with PKP

The new agreement will give developers a chance to build on attractive locations across Poland. The projects will make use of PKP's locations and PKO's know-how. The new residential complexes will be in Warsaw, Gdansk, Lódz, Wroclaw and Poznan. The two companies will soon reveal a detailed list of real estate included in the program. PKO Inwestycje aims to provide final financing for the investments and negotiate satisfactory conditions for their security. PKP and PKO Inwestycje plan to develop their investment projects through individual companies launched for each specific project. These companies will own the real estate where the investment is developed. PKP manages property covering 109,000 hectares and 43 buildings with a total usable area of six million sqm. (WBJ Real Estate Newsletter)