Zaułek Piękna in Warsaw is entering a new chapter in its history. Syrena Real Estate is planning a comprehensive modernisation of the property, which will result in an improvement in the standard and functionality of the building, opening up its lower floors to the city, and giving it a new name – Elma. Medusa Group is responsible for the architectural concept behind the changes, whilst the Reesco Group is in charge of carrying out the modernisation. The work will be carried out in two phases – the first will begin in early 2027 and last several months, whilst the second is scheduled for the first to third quarters of 2028.

Syrena Real Estate acquired the building at 18 Piękna Street in May 2025. At the time of the transaction, the company had already announced plans for its thorough modernization and repositioning, capitalizing on the potential of its exceptional location at the junction of Piękna, Mokotowska and Krucza streets. The transformation currently being planned will involve both changing the building’s relationship with the surrounding urban space and a comprehensive upgrade of the entire property. The company already holds building permit. The most visible change will be the building’s new openness towards the city. According to the concept drawn up by Medusa Group, the two lower stories will be refurbished and will feature a new façade with shop windows nearly 6 meters high. The retail and service space will increase from the current approximately 700 sq m to 1,300 sq m, creating an offering for brands seeking prestigious high-street locations in the centre of Warsaw. The new ground-floor design will make the most of the building’s corner location and its exposure to three streets, whilst integrating the interior of the property more closely with the surrounding urban space. The entrance area to the office section will also be transformed – the building will gain a new, prestigious lobby.

(Press Materials)

"Piękna 18 has everything we look for in our projects: a superb location, a functioning building and untapped potential. We do not want to create a new space here from scratch, but to extract much more from the existing property. On the one hand, we are raising the standard of the office section and the quality of the everyday experience for its users; on the other, we are completely transforming the building’s relationship with the street. The new name – Elma – will also symbolise this transformation. It reflects the history of this place, whilst at the same time opening a new chapter and giving the building its own distinctive identity. We want Elma to become an active part of South City Centre and a destination associated with both a high-quality workplace and an exceptional retail offering," says Witold Zatoński Kotomski, founder of Syrena Real Estate.

Medusa Group’s design involves utilizing the building’s existing structure and transforming the previously recessed plinth into a transparent, two-story space that opens the building up to the street. The new façade will consist of tall glazed sections set within prefabricated concrete frames. The distinctive geometry and offset planes will give the lower storeys a more expressive, sculptural character.

"The building at 18 Piękna Street is situated in a location with a very strong architectural identity, which is why we were keen to find a contemporary architectural language that would engage in dialogue with its surroundings. Our point of reference was the architecture and detailing characteristic of this part of Warsaw, which we are reinterpreting through the geometry of the designed façade elements. We want to create a sort of architectural passe-partout – a frame for the life taking place inside the building and on the surrounding streets. The new façade is not intended to be merely an aesthetic change. It is meant to make the building more open, transparent and present within the urban fabric," says Przemo Łukasik, architect and co-founder of Medusa Group.

Not just a new façade

The changes to the building at 18 Piękna Street will not be limited to the architecture of the two lower storeys. A comprehensive modernisation programme for the entire property aims to improve user comfort, the building’s standard and its energy efficiency. The works will include, amongst other things, the modernisation of key technical installations and the ventilation, heating, cooling and building automation systems. Improving these systems is intended to reduce energy consumption and running costs, as well as ensure more stable indoor conditions. The changes will also cover the building’s two upper storeys, the communal areas, the façade and the roof. The lobbies, lift halls and toilets will be upgraded to a new standard. The car park will be modernised, and the infrastructure for electric vehicles will be expanded. Upon completion of the project, Elma will offer approximately 7,700 sq m of office space, 1,300 sq m of retail and service space, and 100 parking spaces. The Reesco Group is responsible for carrying out the modernisation Syrena Real Estate has previously collaborated with them on the transformation of other properties – the HOP building at 132/134 Chmielna and the Diuna office complex in Warsaw’s Służewiec district. Work will begin in the first quarter of 2027, starting with the building’s interiors and technical infrastructure. The refurbishment will be carried out in stages to minimise disruption to tenants’ day-to-day operations. Subsequent stages will cover the exterior of the building, as well as the ground floor and first floor. The entire process is scheduled for completion in the third quarter of 2028.

Changes on Krucza Street

Elma’s transformation will coincide with one of the most significant changes planned in its immediate vicinity. The City of Warsaw has drawn up plans to redevelop Krucza Street as part of the New Centre of Warsaw programme. The project aims to transform the street from a thoroughfare into a more local, green and people-friendly urban space. A green pedestrian promenade with rest areas will be created between the two narrower carriageways. Plans also include the planting of 247 new trees, nearly 15,000 shrubs and approximately 5,000 square metres of flowerbeds, as well as measures to improve pedestrian safety and comfort. Skanska has been appointed as the main contractor for the redevelopment of Krucza Street. According to current plans, work on the project will begin later this year and is expected to take around 18 months.

The modernisation of Elma is part of Syrena Real Estate’s investment strategy, which is based on identifying well-located properties with the potential for repositioning and creating new value through carefully considered architectural, functional and technical changes. Other buildings in the company’s portfolio have previously undergone a similar process. In 2022, the modernisation of HOP at 132/134 Chmielna Street was completed, and in 2024 – the comprehensive transformation of the Diuna complex in Warsaw’s Służewiec district. In both cases, the existing structure of the properties was utilised, adapting it to the contemporary needs of users and the changing environment. Elma represents the next stage of this strategy – this time being implemented in the very heart of Śródmieście Południowe.