15:32 1 November 2025
Witold Zatoński: Polish capital does not invest without OFE and insurers
The development of local real estate funds in Poland is limited by the lack of access to domestic institutional capital, says Witold Zatoński, Founding Partner at Syrena Real Estate. He notes that pension funds (OFE) and insurance companies rarely invest in commercial real estate, and there is no established culture of such investments among Polish financial institutions. Although some entities, like PZU, do allocate funds to this sector, the scale remains small compared to their available assets.
Zatoński argues that to stimulate the market, Poland needs tax incentives that make real estate funds more attractive to individual investors, as well as transparent legal structures to increase trust and ensure security of returns.
