There has never been a better time to sell

Karl Bier, chairman of the management board of UBM Development: The first response was very good. There are some investors who are currently analysing this portfolio and possible transactions are being discussed. The properties are likely to end up being sold for a total of around EUR 700–800 mln, but it hasn’t been decided yet if they are going to be sold in one piece or in three or four smaller pieces. Another scenario is that we sell only 15 or 16 properties in one portfolio. One big transaction has the advantage of requiring less time. And with three, four or five buyers it usually takes longer. Anyway, we are expecting to execute that sale within the next twelve months. Apart from this big portfolio, you are also selling a number of other assets. Yes. Meanwhile we have sold, for example, Radisson Blu Hotel in Wrocław. Now is the perfect time for selling projects. There is such huge demand from institutional funds wanting to buy proper