Upscale apartments in Poznań

Howard Property Poland (HPP) is entering the Polish residential market with two upscale investments in Poznań. To begin with, the firm is renovating the Stary Browar (old brewery) located near Lake Malta, a project which will transform the site's historical buildings into high-standard lofts. A new housing estate will be constructed alongside the revitalized structures, as well. The total value of the investment at Lake Malta will be X39 (zł.146) million.

The company will invest a further E39 million in its second Poznań undertaking - construction of modern apartments on ul. Wilczaka. The development will be located near a park and will include restaurants, cafes and 400 underground parking spaces. HPP was unavailable for comment, however, making further details of either project hard to come by.

HPP is part of Howard Holdings - a leading developer and asset manager on the real-estate markets in the UK and Ireland. It is currently building the first four-star hotel of the Hilton chain in Poland, the Garden Inn in Kraków, which will be accompanied by a Silver Screen multiplex. The Irish developer has invested E53 (zł.199) million in Kraków and the hotel is scheduled for completion next year. "We are currently working on a price strategy," said Michał Kosyrz, the president of real-estate agency Rednet24, which provides sales and marketing services for HPP.

Kosyrz also noted that HPP has plans to invest in other Polish cities. "HPP is currently analyzing investment plots in different cities," he said, adding that HPP wants to be present in both large and small cities.