Greenfields has finalised two real estate purchase transactions in Warsaw for its clients, in the districts of Bemowo and Mokotów. The two plots, acquired for the purpose of multi-family housing, will expand the developers’ land banks.
The first property is located in the area of the Chrzanów residential district, where the new purchaser is planning to carry out a multi-family housing investment consisting of approximately 340 apartments.
The second plot, the sale of which was also entrusted to Greenfields, is located in Dolny Mokotów. This attractive property, located close to the city centre and extensive green areas, has remained undeveloped for years. The investor is planning to build approximately 190 apartments there.
Investments for the land bank
“We are pleased with these latest successful transactions”, says Michał Różycki, head of the Greenfields Real Estate Department. “Importantly, both plots have been acquired with a view to expanding the land banks. This confirms our recent observation that attractive properties well-prepared for investments are becoming scarce on the Warsaw market, so investors are buying ‘to build up stocks’, with the plan being to commence implementation in the next three to five years. Before that happens, they need to handle all the legal matters, invest in the necessary infrastructure and prepare the set of decisions to enable the investment to proceed”.
Since 2005, Greenfields has completed sales transactions for plots of land for development by investors covering a total usable floor area of approximately 1.2 million sqm. The company provides comprehensive services for the acquisition and sale of land intended for residential, service, office and public utility purposes. The total value of transactions handled to date exceeds PLN 2.1 billion.