Ghelamco spells out its future

Of towers and apartments The company is also soon to hand over the luxury apartments of its Foksal project in Warsaw. This project should bring the developer around EUR 34 mln. Additionally Ghelamco has sold 66 pct of the apartments in its Flisac project in Warsaw’s Powiśle district. The building was constructed with a loan from Mbank Hipoteczny worth PLN 74.2 mln, and includes around 5,700 sqm with 980 sqm of retail on the ground floor. Currently Ghelamco is also constructing its Warsaw Unit skyscraper with a height of over 200m and a gla of 59,000 sqm. The anchor tenant is insurance company Warta with a lease of 20,000 sqm. The project is valued in the prospectus at EUR 77.6 mln with EUR 135.9 mln in financing. The developer’s design (by Andrew Bromberg) for a building at pl. Grzybowski was not approved by Warsaw’s city authorities, yet the developer believes it will still eventually be possible to apply for a building permit for a 35,000 sqm office tower with a h