Yesterday morning FADESA, through its Polish subsidiary company FADESA Prokom Polska, officially presented its first project in the country: the Ostoja Wilanów complex, an ambitious residential development comprised of some 1,900 homes.
The Polish Minister of Housing and Development, Antoni Jaszczak, presided over the ceremony, accompanied by the Presidents of FADESA, Manuel Jove Capellán, and Prokom Investments, Ryszard Krauze, two companies which merged last year to create the new joint venture FADESA Prokom Polska with a view to promoting future construction projects in Poland.
The official presentation ceremony for the Ostoja Wilanów complex was held in the 800-m² Sales Hall that FADESA have built on the site and which houses both the commercial infrastructure of the project and a fully furnished and decorated show home, representing a lifelike version of the finished product. The project as a whole is seen as a pioneering venture within Poland.
Close to 1900 homes
FADESAs project in Warsaw has been warmly welcomed by all concerned. To this end, FADESA has brought forward the sale of the second phase of the development, having already sold practically all the 190 homes which make up the first phase of the complex in only three months. Overall investment for these two phases is expected to reach some €47.7 million.
The Ostoja Wilanów complex is comprised of some 1,900 homes representing the mid and luxury sectors of the market, including flats, apartments and attics with terrazas, as well as extensive commercial areas. This is a low intensity complex featuring cutting edge modern architecture, with the height of buildings limited to a maximum of four floors. A number of architectural styles have been employed, all merging perfectly with their surrounding in one of Warsaws most up market areas, only ten minutes from the city center.
The whole complex is also surrounded by some 79.000 m² of parks and gardens dedicated to leisure use. The overall area of the development spreads over 16.8 hectares, with buildings occupying a total of over 200,000 m². As well as being aimed at the Polish public, these homes hope to attract significant investment from Spain, Great Britain and Ireland, all of whom have shown great interest in the project.
This residential complex constitutes FADESAs first involvement in Poland after the Spanish company announced its intention to enter the Polish market through it alliance with Prokom Investments, a company which belongs to one of the countrys leading holding institutions, the Prokom Group. In order to commence their activities, both companies jointly created FADESA Prokom Polska, of which FADESA is the majority shareholder with 51% of capital, the remaining 49% being held by Prokom Investments.
International expansion
FADESA is thus continuing its commitment to internationalisation, a strategy that has made the company one of the Spanish real estate operators with the greatest presence on the international stage. This policy represents a vision for the future which will not only be maintained, but further strengthened. FADESA currently has large scale residential, office and tourism development projects under construction in Morocco, Portugal, Hungary, Poland and France, as well as examining the prospects for expansion into other countries, with commercial offices in a number of European cities.
Source: FADESA
