One foot in the stock exchange

POLAND After having built over 2,700 apartments in 16 projects in Warsaw and the Masovian province in the last ten years, Włodarzewska Development has decided to diversify its operations and move into retail development. The first project of this type is Galeria Brwinów shopping centre in Brwinów outside Warsaw. The centre, which will have a leasable area of app. 7,000 sqm, should be completed in Q1 next year. "We are planning to build more retail projects in the future. The current situation on the market has led to a number of such projects being suspended. So we are conducting negotiations concerning four such projects, focusing preliminarily on prepared facilities and those already under construction," reveals Jerzy Szymański, president of the management board of Włodarzewska Development. The projects should be at least as big as the one in Brwinów. The first acquisitions of projects are expected next year. More in storeWarsaw's Ursynów is the district that the developer ha