Edition 4 (209) April 2016


To invest or not to invest?

Investors sometimes have a tendency to ‘hamletise’, to experience some kind of existential self-doubt when it comes to making important decisions.

Ewa Andrzejewska
Investment & finance

The DNA of a developer

What is going to be the difference between how Lincoln Europe and your former joint venture with AIG/Lincoln operated?

Interviewer: Nathan North
Investment & finance

An appetite for Poland

What sort of products will you be targeting in Poland?

Interviewer: Agata Kłapeć

2,200 hotel rooms to open in Moscow

RUSSIA Around 2,200 branded rooms are to be delivered this year to the Moscow market, compared to only 757 branded rooms completed last year, according to JLL. The increase can be partially attributed to preparations for the 2018 World Cup and attempts to accommodate new demand patterns, which are shifting towards the mass market. Half of the announced projects are in the midscale segment. Some of the most notable ones that are expected this year include a triple-brand by Accor and Patero Development (Novotel, Ibis, Adagio) near Kievskiy railway station (701 rooms) and the first internationally managed hotel near Vnukovo airport – Four Points by Sheraton.

Stock market report

Oil the fuel for index growth

The early spring has been an excellent time for the global stock exchanges. The growth in oil prices and investors’ willingness to look for purchasing opportunities on emerging markets gave the WIG-20 four weeks of increases, pushing it close to the level of 2,000 points


REIT here, REIT now?

The commercial real estate market in Poland is now dominated by foreign players who own over 90 pct of the country’s office buildings, shopping centres and warehouses. And they are profiting from them – mostly through not having to pay Polish taxes. Polish investors, however, have much more limited space to manoeuvre. The introduction of REITs is set to change all this

Tomasz Szpyt

Shape-shifting Griffin

The acquisition of Echo Investment by Griffin Real Estate together with Oaktree and Pimco has led to no end of changes at the company. After an unsuccessful attempt to transfer the residential operations of the group to Verwood Investment and some changes at the managament level, it is the ownership of the Kielce-based developer’s commercial properties that has now changed

Tomasz Szpyt
Office & mixed-use development

Time to cross the Tatras

Two new office buildings and the possiblity of taking on a few existing properties. This is what Penta Investments initially aims to build its Polish presence on. Last year the company launched the construction of its first Polish project. Now Jozef Oravkin, who heads Penta’s real estate business, tells ‘Eurobuild CEE’ about the investment and development plans the company has for Poland and the CEE region

Office & mixed-use development

Remake, remodel

An apartment building or a hotel is to be developed in a city centre in a dozen or so months. It seems impossible. But still, it happens: an old office building nobody wanted turned out to be just what was needed for the job. As well as a good architect and, of course, a good construction company

Anna Pakulniewicz

Diminishing the price factor

For the Polish construction sector, particularly when it comes to infrastructural public procurement, one of the biggest problems has always been that the cheapest companies won the contracts. But now, on the eve of an amendment implementing EU directives, the Polish legislator is making another attempt to remedy this lamentable state of affairs

Rafał Ostrowski

The boys from the East

APA Wojciechowski is one of the few Polish architectural studios that also operate on a number of markets abroad. We discuss architecture and the company’s strategy with two members of its management board, Szymon Wojciechowski and Michał Sadowski

Rafał Ostrowski, Tomasz Szpyt

Sometimes sun, sometimes rain

The Poles like to say that March is like a pot of soup, their equivalent of saying that it comes in like a lion and goes out like a lamb. This is also true on the Côte d’Azur. In Cannes this year, the beautiful sun and blue waves, which the French Riviera is famous for, were mingled with a blustery wind and pouring rain. This was mirrored in the corridors of the Festival Palace, where the optimism was mixed with anxiety


Lazier Sunday afternoons?

It’s Friday afternoon, the end of the day’s work is drawing to a close, and I am thinking about my weekend plans. Some rest tomorrow, a walk in the park and a good book. And on Sunday? Shopping! Spring is just around the corner and you need to be prepared: new shoes, a jacket and a bag. And some food for the whole week. It’s so good that there are Sundays...

Aneta Cichla