Towering ambitions

Tomasz Szpyt-Grzegórski, ‘Eurobuild CEE’: Some analysts are worried that there’s so much money on the investment market that there isn’t enough product to meet the demand. Jeroen van der Toolen, Central and Eastern Europe managing director, Ghelamco: There’s never too much money on the market. The investment market has been in excellent health, and indeed, a huge volume of funds are currently circulating on it. Just five years ago, when we were leasing the Warsaw Spire, the agents were telling us that there would be no problem selling the entire complex at one go. However, it turned out that it wasn’t that simple. We sold the complex in three, actually four parts [half of the tower was initially bought by Madison – editor’s note]. Investors could see that it was a superb project, but why Warsaw? They were simply afraid to invest so much cash here at once. Paris, London and Frankfurt are different. But this is no longer a problem. A lar