Life on Mars

Mars Shipyards & Offshore will bring together companies from the fund’s portfolio involved in the renovation and construction of civilian and military ships as well as the production of steel structures. The second group, Mars Real Estate, will consist of five companies focused on development and real estate activities. The total value of real estate investments carried out by companies from the Mars Real Estate group will come to more than PLN 800 mln. The main goals of the new group include: the establishment and growth of the real estate activities of the group (project development, facility management); establishing a diversified property portfolio to limit the investment risk; and the public listing of selected companies from within the Mars Real Estate group. The group comprises Centrum Bankowo-Finansowe Nowy Świat, Centrum Giełdowe, Waryński Grupa Holdingowa, Unimor Development and FS Nieruchomości of Lublin. The total value of the real estate assets in the group’s portfolio amounts to almost PLN 500 mln, which constitutes nearly half of all the PLN 1.2 bln of assets of the Mars closed investment fund. The most advanced project of the new group is the construction of the Nowy Świat 2.0 office building in Warsaw, which was launched in Q2 2013. The PLN 105 mln investment should be ready for tenants in Q2 2015. When it is finished they are planning to renovate Centrum Bankowo-Finansowe Nowy Świat (the former premises of the Polish United Workers' Party) in the same city. The listed property is to be converted into a modern class ‘A’ office building and its surroundings are to be given a “big-city” character. The company’s plans also include the construction of the EQlibrium office building in Warsaw’s Wola district. The PLN 75.6 mln project will have an office area of app. 10,000 sqm. The launch of the construction of the project is subject to negotiations with tenants. Meanwhile, the construction of two residential estates in Warsaw’s Wola district is to start very soon. The sales of 179 apartments in the first stage of Stacja Kazimierz (a joint project of Waryński GH and Polnord) are to start at the end of May or early June. The construction of Miasto Wola, which Waryński GH is carrying out together with Dantex, is to start a few weeks later. A total of 112 apartments will be built in the first stage. Mars Real Estate is also finalising the selection process to find a partner for the Waterfront project on ul. Waszyngtona in Gdynia. The project involves the construction of a mixed-use complex with a total area of 174,000 sqm (including 45,000 sqm of retail, 35,000 sqm of warehousing, a residential area of 28,000 sqm, 8,000 sqm of offices, a hotel area of 8,000 sqm and 35,000 sqm of car parks. Two small office buildings are also to be built in the TriCity on plots owned by Unimor Development. An educational and office building on ul. Żabi Kruk in Gdańsk is also to be adapted into a modern building with an area of app. 5,000 sqm. Unimor Development is also carrying out preparation work related to the construction of an office building on ul. Rzeźnicka in Gdańsk. An office building of almost 5,200 sqm is to be built on a 0.26 ha plot. Meanwhile, the properties of FS Nieruchomości, which operates on the Lublin and Warsaw markets, have been earmarked for sale. The company’s main assets are office buildings located on ul. Czechowska and ul. Krakowskie Przedmieście in Lublin. The company is the owner of student halls of residence and residential units located near universities and colleges in Lublin as well as an estate of detached houses in Młochowo near Warsaw.