The construction boom is particularly strong in the capital city, Warsaw. Here, too, Helaba is involved in financing projects that will not only change the urban landscape of this great metropolis on the Vistula river but also enhance the quality of life for its millions of citizens – generating value for all.
Take for example the Wars Sawa Junior shopping centre: built in the early 1970s, this was originally home to Warsaw's first ever department store. Following numerous refurbishments and extensions, it now numbers among the city centre's most popular shopping destinations, welcoming more than 60 million visitors every year. Two thirds of the centre's 37,000 or so square meters are leased to prestigious retailers, while one third provides office and warehouse space.
Then there is the Warsaw Spire office complex, a 220 metre high tower with two smaller twin constructions in the city's up-and-coming Wola district: in 2017, it garnered the "Best Office & Business Development" award.
Another interesting development is Powisle, a former electric power plant which is being given a new lease of life as a riverside lifestyle location featuring bars, apartments, shops and offices. A residential and office campus is taking shape on the site of the former Koneser vodka factory, preserving and incorporating the attractive red-brick industrial buildings dating back to the late 19th century.
“Old factories and market halls are being repurposed as urban lifestyle locations along the lines of New York, rubbing shoulders with modern office towers in the Frankfurt style: Warsaw's cityscape has undergone a huge transformation over recent years.”
International Real Estate Finance Continental Europe