Investment offensive from Vastint

The first of the plots, purchased for more than PLN 80 mln, has an area of over 14 ha and is located on ul. Żwirki i Wigury near the Fryderyk Chopin Airport in Warsaw. Vastint intends to develop a commercial project in this location, although the company is not planning to launch the construction work in the near future. The second plot purchased is located on ul. Angielska Grobla in Gdańsk, where Vastint has bought several properties there (including from companies such as Nowe Ogorody, Iberdom and the former PP meat factory, with a combined area of 6.5 ha. The company is mainly planning residential and retail/service projects on the sites, “The recent purchase of investment land is an element of our strategy for long-term involvement in the Polish real estate market and securing the company’s stable development. As far as the acquired locations are concerned, we have ambitious plans that will be implemented over the next few years. Firstly we want to focus on the projects we have been working on for a long time, i.e. the next stage of Gdynia Waterfront and Business Garden Poznań. We are also planning to start two residential projects in Poznań and Gdańsk within a year’s time,” revealed Roger Andersson, the managing director of Vastint Poland. In Poznań the developer owns a 15 ha plot on ul. Starołęcka nad Wartą earmarked for the development of an estate The Portowo complex planned on the site is to comprise app. 1,700 apartments. The company has already applied for a building permit for a section of the project that will include 380 apartments.