PZU eyeing real estate investments

Polish largest insurer PZU is looking to invest more in real estate, Krzysztof Tokarski, PZU’s CEO told propertynew.pl. The firm is also preparing a fund for individual investors. “As a large insurer in this part of Europe, PZU is also considering investing in real property. This form of activity is standard in the West, where real estate assets constitute up to 15 percent of insurance companies investment portfolio,” Tokarski explained. PZU has been actively looking at the market for a few years. It already employs 20 people dealing with real estate investment. “We are interested in the office, retail and logistics. Most investors focus on the Warsaw office market. We think it is interesting but investors, both Polish and international, are also starting to notice office markets in smaller cities, like Kraków, Wrocław and Poznań,” Tokarski explained. “Shopping centers in medium-sized and small cities are also interesting. We are analyzing this area very thoroughly,” he added.