Pepijn Morshuis, CEO of Trei Real Estate, commented: “I’m glad that we’re able to expand the development of residential real estate in Poland. So far, the effects of the coronavirus crisis have barely been felt in Poland’s building sector. Apartment sales have also continued as before the crisis, although future COVID-19 measures in Poland could slow down the marketing process. Allowing for future steps to curb the spread of the coronavirus, the project is scheduled to be launched in the third quarter of 2020 and the completion for the fourth quarter of 2021. Due to the ongoing pandemic, we are currently rolling out options for digitising our sales. For instance, it is now possible to have video chats with our staff on the ground and to place apartment reservations via the internet. In addition, we are currently preparing the technology necessary to offer virtual tours of the premises. We are getting quite a number of calls by prospective buyers, and assume that we will be receiving the first reservations in the coming days.”

According to the research and valuation company WüestPartner, Poland has a shortfall of about three million apartments. Morshuis elaborated: “We rate the segment as attractive because high-quality residential accommodation is in short supply in Poland. Our efforts focus on the country’s major cities, such as Warsaw, Krakow, Gdansk, Poznan or Łódź. In addition to Wroclaw and now Łódź, we secured further plots of land in Warsaw and Poznan. We are planning to develop a total of 1,600 residential units in Poland in the coming years.”