Perfect pretext

Zuzanna Wiak, 'Eurobuild CEE': Your first business was...

Marta Półtorak, the owner of the Millenium Hall shopping centre in Rzeszów: My husband and I became interested in plastics. It was a good time for this, as there was a shortage of practically everything and the demand for all the different kinds of containers and plastic wrappings was growing rapidly. So to get to know the market we decided to start trading such products and invested in our first production line, which we hire-purchased.

According to some biographical notes about you, you do not hold a university degree due to the early start of your professional career.

This was a conscious decision. My goals were very clear at the time. Dealing with the development of the company fascinated me and took so much time that the decision was not hard to make. It turned out that the world of business is my passion and this is where I feel fulfilled.

In 1991 you opened Marma Folie Polskie. Now the group employs over 800 people and its 2010 revenue exceeded PLN 400 mln.

The idea was born by accident, but was partly due to family tradition, and the rest resulted from youthful fantasy. Plastics processing is a very demanding field, you have be one step ahead of the competition or you would be better off doing something else. You have to operate on a large scale, constantly develop, invest in research, introduce new technological solutions and ensure your employees are being continuously trained. We work with various scientific bodies, carrying out our own research and have modern laboratories. We are one of the founders of the Poligen group of plastics processing companies. This is a geographical group of firms which compete with each other on an everyday basis, but also cooperate in certain areas to achieve mutual benefits. I am an electronic technician by education, which has little to do with chemistry, but as I mentioned before, I run the business together with my husband and he is the visionary and the one responsible for technical matters. I look after our relations with business partners and the finance. In this way we complement each other; besides, it is easier when you can divide responsibilities like that.

You are also the chairman of the Stal Rzeszów speedway club. Is this business or is it your passion?

Speedway is very popular in Poland. These events attract the most spectators when it comes to stadium sports. In my case it is business combined with passion. There are still a few companies in Poland that appreciate the benefits of sports sponsorship, and this is an excellent form of advertising. I can ride a motorbike in my free time, but I would not have the courage to get on a speedway bike, which has no brakes. A mechanic once told me a story about the time he tried to show a contestant who was not doing well how to ride - he got on the bike, opened the throttle and nearly rode straight into the railings. So you see it's not an easy sport and it's much better to be a spectator.

How did you start investing in real estate?

We have been involved in property-related projects since the company was set up. We have extended, modernised and built several production plants in Poland. There is also the Pod Gwiazdami residential estate that we built in Józefosław outside Warsaw, and there is now another project being developed in Bielsko-Biała. This led on to our interest in commercial property, such as the mixed-use Millenium Hall.

The Millenium Hall project did not have much luck at first - the original investor was not able to complete it. How did you come to see the project not as one that was disfiguring the town but as a promising business opportunity?

There is no doubt that Millenium Hall has an excellent location, and also has functional and interesting architecture, but my interest in it was the result of thorough market analyses carried out by specialist companies. Of course, their reports confirmed the validity of our interest and after a few months of the centre being opened we remain convinced that the decision was a good one.

Does taking over a problematic project lead to a lot of tense situations?

Millenium Hall has indeed had a complicated past, requiring an unusual approach and careful analysis. However, difficult children usually grow up to be strong personalities. The development of such an enterprise did entail a number of difficulties, but it has also been a source of great satisfaction.

What surprised you most during the development of this project?

It turned out that a facility of this type opens up a number of possibilities. Including art galleries, top brands that had been previously absent in the region, as well as innovative public functions. We have managed to create a town within a town.

What distinguishes the manufacturing business from the property sector?

Each type of business involves risk resulting from the market situation on a macro- and micro-regional scale. The experience we have gained has taught us humility and how to react to changes in the right way. You have to be flexible in business and adjust to the changing situation. Manufacturing is governed by slightly different rules, whereas commercial properties are sensitive to a number of purely human factors.

What next? Are there any more projects in the pipeline?

Thanks to Grupa Marma's contacts all over Europe, we now have the opportunity to observe trends, the demand and prospects in various fields. We are also looking at commercial properties. At the moment we are focusing on the development of finished projects.

Will Millenium Hall go under the hammer?

The project has had a good reception, so it is enjoying a great deal of interest from investors. We are currently working to realise all the possibilities the facility provides.

How do you feel as a woman who has her own shopping centre?

Each woman has some weaknesses. I also admit to having one - shoes. Despite the fact that I have quite a lot of them, I continue to be surprised by what I manage to find in my centre. I am happy that being a woman of sophisticated taste I can rely on what is on offer in Millenium Hall and do not have to shop in other places - and if I have to go elsewhere it is to relax or work. I only used to visit shopping centres to go shopping, but now I have a pretext: going to the office. ?

Marta Półtorak
was born in 1966 in Rzeszów. She has not revealed what her assets are worth, but it is common knowledge that she is one of the most affluent people in the Subcarpathian province. She is also the president of the Marma Polskie Folie group, which is one of Europe's biggest processors of plastics. Her passions include motor sport - she was the first woman in Poland to become the chairman of a speedway club, which is currently competing in the Polish Speedway Elite League as PGE Marma Rzeszów. Millenium Hall, a regional cultural and shopping centre, was opened by Marma Polskie Folie, or rather by its subsidiary Develop Investment, on the 20th bithday of the founding of the company. The facility, which made its debut in mid-October 2011, has a leasable area of over 56,000 sqm. Marta Półtorak paid PLN 191 mln net to the previous owner of Millenium Hall. The cost of the whole project was estimated at PLN 450 mln. Its list of tenants includes: Pull&Bear, Zara, Piotr i Paweł, Multikino, Bershka, Mango, Stradivarius, Massimo Dutti, Toys?R'Us Super-Pharm, and Home&You. A Hilton Garden Inn will also be opened soon within the complex, offering over 100 rooms.