Bringer of good tidings

The news that the real estate market had been waiting for in 2009 finally arrived from the very top… of the Rondo 1 office building in Warsaw, that is – a property owned by investment fund MGPA. The news from the 36th floor of the building was that the fund had acquired Mayland Real Estate’s portfolio of two shopping centres in Poland (Karolinka in Opole and Pogoria in Dąbrowa Górnicza), with the option of purchasing a third (Jantar in Słupsk) for EUR 236 mln. This was the single largest investment transaction in CEE in 2009 and an  encouraging sign of how things might go this year. ‘Eurobuild CEE’ spoke to  the  man of the  moment and MGPA’s head for the  CEE region, Daniel Harris.

What do you like most and least about doing business in Poland?

I like the professional nature and high standard of the people I deal with on a day to day basis. The thing I like least are the cold winters and the difficulties in getting from one city to another.

Who do you most admire in the real estate business?

What I admire are buildings and architecture that change their environment. They can affect cities in a dynamic way that transforms the way people live their lives and this is what excites me about real estate.

How did you first get into real estate?

When I finished university I joined Arthur Andersen in London and was part of a rotation scheme in which I spent time in all key parts of the business. I most enjoyed my time in real estate and chose to go into that department full time.

What do you regard as your greatest professional success so far?

Developing the CEE business with MGPA. When I joined MGPA it hadn’t made any investment in the CEE region; but since 2005, on behalf of MGPA’s managed funds we have invested in projects with a combined value of over EUR 1.5 bln in Poland and established an office in Warsaw which has become a key part of MGPA’s European business.

What is your greatest failure?

I can’t think of a particular incident, but real estate transactions can take a long time and sometimes the negotiations break down at the last minute and the deal isn’t finalized. Whenever this happens it is frustrating, but unfortunately it is just part of the industry in which we operate.

What contribution do you think you have made to Polish society through your business activities?

SOS Children’s Villages (SOS) is the world’s largest orphan and abandoned children’s charity. MGPA is proud to sponsor the charity, which provides new families and homes for more than 70,000 children in 473 unique ‘Children’s Villages’ in 123 countries. In 2008/9 we pledged USD 49,000 to the Playbus project in Warsaw. This contribution will ensure 4,900 vulnerable children will be able to access the Playbus, enjoy a range of interactive activities and benefit from the holistic support it provides.

Which is your favourite building and why?

Can I say Rondo 1? It was the first transaction I completed with MGPA and therefore has a special meaning. Also I think it is an iconic building in Warsaw and has a leading, cutting edge design that would stand out in any city in the world.

Which living person do you most admire and why?

I admire many people who have made a real difference and contribution to their environment and act as an inspiration to others by showing that determination and hard work will bring success. These include people such as Lance Armstong, Warren Buffet, President Obama and Steve Redgrave.

With which historical figure do you most identify?

I haven’t achieved enough in my professional career to be associated with any person.

What is your fondest memory?

In my personal life it would have to be my wedding day or the birth of my children. In work it is probably the opening of the Warsaw office in 2008, the culmination of several years of work and achievement.

What is your idea of a perfect day?

Sitting by the pool in the sun, with my wife and kids… and with the blackberry turned off.

Which is your favourite restaurant and why?

In Warsaw my favourite restaurant is Papaya. The teppanyaki table is great fun with a group of friends.

Who is your closest friend and why?

I have known my closest friend for almost 20 years. He works in the music business and we never talk about each other’s work.

Which characteristic do you hate most in others?

People who are dishonest and don’t own up when they make a mistake. Everybody gets things wrong, but if you just say you got it wrong you will be respected more for it.

How would you like to be remembered?

A good husband and father.

Daniel Harris was born in 1976. He graduated in 1998 from the University of Leeds after studying a history degree. He spent three years at Arthur Andersen in London, where he qualified as a chartered accountant. Since leaving Arthur Andersen, he worked for Heitman and then moved to MGPA five years ago, where he has been responsible for the acquisition and management of app. EUR 1.5 bln of real estate transactions in Poland, as well as many other transactions across Europe. He established the Warsaw office of MGPA in 2008 and now manages the operations of the CEE business, sharing his time each week between his home in London and travelling throughout the region.