Xcity invitations open for longer

The information memorandums will be given out until the end of June this year. The projects in need of investors are located in twelve cities: Elbląg, Katowice, Kłodzko, Koło, Koszalin, Kutno, Łowicz, Oleśnica, Chorzów, Bielsko-Biała, Skarżysko-Kamienna and Warsaw. Four projects are to be carried out in the capital city. “We have extended the memorandums issuing period because of the substantial interest and investors’ queries. The projects will also be showcased at the MIPIM international real estate fair, which takes place in March. These are locations with a great deal of commercial potential, which is why I expect that they will enjoy significant interest and attract even more developers,” declared Maciej Król, the president of Xcity Investment. In Warsaw Xcity is looking for investors for four projects: Centralna Park, a combined office, retail and service project with hotel functions is planned in the project, which is located at a 2 ha site in the city centre next to the Warszawa Centralna train station; the mainly office Aleje Jerozolimskie 140 project, situated close to the Warszawa Zachodnia station and West Station development being jointly carried out with HB Reavis; the Szczęśliwicka 62 residential estate; and a retail, services and office building neighbouring the Warszawa Włochy railway station, which also involves the construction of a new station.

The project in Katowice is located on pl. Oddziałów Młodzieży Powstańczej, close to the Katowice Osobowa railway station, where a retail and service building is initially planned. A number of smaller projects involving the development of properties close to stations are also being offered, such as retail park projects. “We are still carrying out preliminary analyses for possible projects on these sites and we are still presenting our proposals. Investors are to be chosen whose concepts will eventually be carried out,” explains Maciej Król.

XCity Investment was founded by the Polish State Railways (PKP) in 2015 to carry out the identification and execution of development projects on railway sites. All the projects carried out by Xcity Investment are being developed under the joint venture formula. Xcity now has 25 projects in its portfolio, at various stages of advancement. Apart from the 15 above-mentioned new projects, those currently under construction include: Warszawa Zachodnia with HB Reavis, Warszawa Gdańska with Ghelamco, Poznań Główny (stage 3) with TriGranit, Gdynia Międzytorze with Semeko Grupa Inwestycyjna, Kraków Bosacka with GD&K Investment and Mińsk Mazowiecki and Konin with Dekada Realty. The eventual shape of three projects are still under negotiation: Olsztyn Główny, Warszawa Główna and the third stage of the Warszawa Zachodnia project. The company plans to have enlarged its portfolio to include 40 projects by the end of 2018, including warehouse projects, and is currently analysing the potential of locations for this purpose.