Urban expectations

Pirelli Pekao Real Estate (PPRE) has announced a new investment project in Warsaw, a residential-service complex called Ostrobramska 75. Once completed, the investment will offer a total of around 150,000 sqm of useable space.

"Our goal was the creation of calm, comfortable living conditions for the future residents as well as the implementation of urban elements which would allow them to take advantage of the services and conveniences of a big city. We think that both of these aspects ought to complement and not contradict each other," said Ryszard Danielewicz, president of PPRE's management board.

Construction on the first of five phases is expected to begin in Q4 of this year. This phase will see the delivery of 431 apartments, amounting to around 28,500 sqm of residential space, with an average apartment size of 66.5 sqm. Approximately 180 sqm will be designated for service space and a multi-storey parking facility with 491 parking spots will also be constructed.

A spokesperson for PPRE noted that it was too early to discuss the total cost of the investment or the expected completion date for the entire project.

Ostrobramska 75 has been designed and will be realized in accordance with the Pirelli Real Estate group's Ecobuilding approach to construction. This approach requires each investment to take into consideration four primary tenets: energy efficiency, eco-friendly materials, renewable resources and living comfort.

Pirelli Pekao Real Estate is owned by Pirelli RE (75 percent) and Bank Pekao (25 percent). The firm has more than 10 years of experience on the Polish market and is currently working on several projects whose total space amounts to around 400,000 sqm. The value of its completed investments stands at approximately E650 (zł.2,232) million.