PKP and PKO team up
The companies have already signed a letter of intent on using land owned by PKP for residential development. This will be a chance for PKP to use its untapped land portfolio to build new residential houses in attractive locations.
PKP is providing the land, and PKO Inwestycje will organize the investment processes and finances and will analyze the profitability of the venture.
As part of the cooperation, new houses will be built in Warsaw, Gdańsk, Łód, Wrocław and Poznań. Soon both parties will prepare a list of real estate that will be subject to the common venture. PKP SA will make the necessary documentation available. PKO Inwestycje will attempt to provide final financing for the investments and negotiate satisfactory conditions for the finances' 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 will be developed.
PKO Inwewstycje is a company owned by the PKO BP group and specializes in large developer projects. Among its most famous schemes are Marina Mokotów and Miasteczko Wilanów in Warsaw. PKP manages property covering 109,000 hectares and 43 buildings with a total usable area of six million sqm.
This year PKP has also signed agreements with bigger cities concerning the cooperation of the railways with local governments on the development of real estate owned by PKP. Such deals have already been signed with Gdynia, Warsaw, Łód, Kraków, Katowice and Kielce.
