Robyg finds partner for Mokotów project

The agreement involves the transfer of a 49 pct stake in Robyg Mokotów Investment – the company responsible for the project – to the NCRE II fund and financing of up to PLN 40 mln to be provided by NCRE II. “The contract for Robyg Mokotów Investment will provide the Robyg group with a quicker return on the capital invested in the project. The PLN 40 mln acquired from the transaction will be earmarked for the construction of future projects and diversification of our subsequent enterprises. The contract will be implemented after we obtain consent from the Office of Competition and Consumer Protection for establishing a new entity owned by NCRE II and Robyg for the project in Mokotów. The Robyg group has not ruled out cooperation with NCRE II for the development of its other projects,” said Oscar Kazanelson,the president of the Robyg’s supervisory board. The joint venture agreement concerns a plot between ul. Puławska and al. Wilanowska (the company has not revealed the exact location), which was purchased in August. Around 1,000 apartments and a commercial area of 6,000 sqm could be built on the 8.5 ha site.