Saturday, April 22, 2006



Which firms build most apartments? There are not companies of our neighbour country - Germany or the Scandinavians. There are firms from Spain. Yesterday in the hotel Marriott have been started a Spanish seminar Central Europe Meeting Point. Representatives of most important developers from the Iberian Peninsula have come to Warsaw on two-day meeting.

For several months we observe a big interest among these investors in
Warsaw. Especially it goes about market of residential estate. Till the end of 2007 we have 7% VAT rate. The Spanish companies want to take advantage and the want to offer their clients apartments for reasonable price. There is a big demand on apartments in the capital – says Andrzej Puncewicz from the firm Taxland Global Alliance, which counsels foreign investors in transactions on market of estate.

Among Spanish developers, who invest already in the capital, there is the mostly Fadesa. With the Polish company Prokom they build in the district of Wilanów two thousand apartments. Hundred of apartments are also constructed by Action Nieruchomości (Real Estates) which has overtaken the company Mostostal Invest. It realizes big projects in a district of Gocław and in the area of Bemów, near the historical Fort of general Bem. The company Ferrovial from Madrid is a shareholder of Budimex-Nieruchomości. It builds housing estates at Olbrachta and Malborska Streets, and it will start soon the construction of a complex in the place of the old depot at Inflancka Street . Another Spanish firm – Tasinsa - will build apartments at Stępińska Street near the crossroads with Puławska Street and Wilanowska Alee. It will be constructed soon an apartment house at Grójecka Street by the developer Riera-Marsa. 40 Percent of firm – only, which have arrived on our seminar, they are the first time in Warsaw.

It – with certitude – will be fruitable in the future with next investments – affirm Enrique Lacalle, the president of Central Europe Meeting. He wants to organize a similar conference next year.

Today the investors will have a breakfast with Michał Borowski, the main architect of the city, who will present free city fields under investments. Investors will be carried away afternoon on bypassing excursion. The purpose is to show the advantage of Warsaw .

Daily „Życie Warszawy”, dated 20.04.2006