PKP picked Immofinanz for Warszawa Główna scheme

Poland’s state-owned railway group PKP chose Immofinanz Group to further negotiate redevelopment of the former Warszawa Główna station, Jarosław Bator, the board member of PKP informed on Thursday. "We have a preliminary idea regarding the development plan for Warszawa Główna. We will be negotiating with Immofinanz exclusively," Bator said at a press conference. The investment agreement will be signed in a few months, informed Maciej Król, the CEO of PKP's real estate subsidiary, Xcity Investment. In September 2014,  PKP has shortlisted five companies in its tender for the redevelopment of the Warszawa Główna station in Warsaw: ECE Projektmanagement Polska, Europejskie Centrum Inwestycyjne ECI, a consortium of  HB Reavis Poland and Polcom Investment XIII, Neinver Polska and Karam Enterprise from the ImmoFinanz Group. The value of the project may be up to PLN 3.6 billion (€700 million). PKP will commit PLN 400-500 million from its own budget towards the investment. Warszawa Główna comprises a total of 10 hectares of land. It is located 1.5 kilometers west of the Warsaw city center. The construction is estimated to be launched at the end of 2017/beginning of 2018.