Heimstaden’s subsidiary, Heimstaden Bostad AB, has purchased two build-to-rent projects in Warsaw, Poland, from French developer and contractor Eiffage, which also will act as the general contractor.
The acquisition comprises attractive properties located in two established but fast-growing areas of Warsaw: Praga Północ and Sluzewiec. It will include approximately 640 residential units (24,363 square meters/262,241 square feet) with additional commercial units (2,117 square meters/22,787 square feet) and parking spaces.
The agreed purchase price amounts to approximately €65 million ($87 million). Construction will start in early 2021, and the two projects are expected to be completed in the first quarter 2022 and first quarter 2023.
In 2019, Heimstaden Bostad announced it would expand its strategy to include other European markets in addition to Scandinavia, including Central and Eastern European markets with favorable macroeconomic fund
