PKP picked Immofinanz to negotiate Warszawa Główna scheme

Poland’s state-owned railway group PKP chose ImmoFinanz Group to further negotiate redevelopment of former Warszawa Główna station, Jarosław Bator, the board member of PKP informed on Thursday. "We have a preliminary idea regarding development plan of Warszawa Główna. We will be negotiating with Immofinanz exclusively," Bator said at a press conference. Investment agreement will be signed in a perspective of a few months, informed Maciej Król, the CEO of real estate subsidiary of PKP, PKP - Xcity Investment. In September 2014,  PKP has shortlisted five companies in its tender for the redevelopment of the Warszawa Główna station in Warsaw, the developers are 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 to the investment PLN 400-500 million from its own budget. Warszawa Główna comprises a total of 10 hectares of land. It is located at 1.5 kilometers west of the Warsaw city center. The construction is estimated to be launched at the turn of 2017/2018.