Skanska has sold Buildings C and D of the Silesia Business Park, a four-building office complex in Katowice, Poland. The buyer is ISOC Group, a diversified real estate and infrastructure investment group based in Manila, Philippines. This is Skanska’s first CEE office divestment transaction to a Philippine investor. With this deal, the developer has now completed the sale of the entire complex. The purchase price was not disclosed.
"Over the last few years, the CEE commercial real estate market has seen an increasing flow of newcomers from Asia, South Africa and the Middle East. In 2016, Skanska divested a hotel in Warsaw to a Qatari investor and now we are delighted to welcome our first partner from the Philippines. The growing awareness of Polish regional markets among newcomers is a very encouraging sign for the Polish and CEE investment market," said Adrian Karczewicz, Head of Divestments at Skanska’s commercial development unit in CEE.
"The ISOC Group is investing in Poland, particularly in Katowice as it reinforces the company’s push towards technology and innovation. With its booming BPO and SSC market, a highly educated labour force, a good infrastructure already in place, and the quality of international investors, Katowice is ISOC’s most significant entry into the European market. We see Katowice as a vibrant centre that has connections with two other major destinations in Poland, Krakow and Wroclaw. We are excited and eager to develop and expand upon our partnerships and presence in the country," commented Michael Cosiquien, chairman of ISOC.
