PKP plans PLN 9 billion worth of real estate investments

Polish railways PKP is planning investments in Poland’s major cities: Warsaw, Wrocław, Kraków and the Tri-City, whose total value is estimated at PLN 9 billion. “We will be one of the leading players in the Polish real estate market,” Jarosław Bator, managing director responsible for PKP’s real estate, told daily Gazeta Wyborcza. Six developers submitted their designs for the development on a 10-hectare plot near the former Main Railway Station in Warsaw, located between the Warsaw West and the Warsaw Ochota stations, PKP announced Earlier this week. “The project’s initial value is estimated at €900 million. After commercialization, it will be worth even more,” said Bator. The company has been developing retail and office projects in joint-ventures with developers on some of its properties for a few years. Last year PKP completed Galeria Katowicka and Poznań City Center. Both projects involved the construction of a shopping mall integrated with railway stations and public transport facilities. The proceeds from the investments will be used to repay PKP’s PLN 2.47 billion debt and for the maintenance of its stations, Bator said.