PKP looking for REIT projects
01:03
The Polish State Railways (PKP) informed in a press statement that it is interested in participating in real estate projects in the form of real estate investment trusts (REIT).
"One of the assumptions of the real estate strategy of PKP SA group is a change in the approach to valuable real estate assets," PKP management board member Jarosław Kolodziejczyk said as cited in the statement. "Instead of selling real estate and consuming the one-off profit, PKP wants to contribute the assets to projects where it is one of the investors. This way the firm will generate long-term profits."
PKP manages over 100,000 hectares of real estate, of which 30 percent has the potential to host development projects, the statement indicated.
Poland's Finance Ministry is currently working on legislation which would introduce the institution of a REIT to the Polish legal system.
