Trei Real Estate, a property developer and real estate venture of the Tengelmann Group, has entered the Polish housing development business, the company announced on July 30.
The developer’s first project is located at Marcelego-Bacciarellego 54 in Wrocław and upon completion will feature 280 apartments, distributed across 14 three-story houses.
According to Trei, the residential buildings will be developed in Biskupin-Bartoszowice, a district in the eastern part of the Wrocław metropolis. They are located in either of two buildings that are slated for completion by fall of 2019.
“So far, our efforts in Poland used to focus on the development of retail real estate. By entering the condominium development market, we are diversifying our business in the country,” said Pepijn Morshuis, CEO of Trei Real Estate in a statement. “We consider this an attractive segment because Poland shows a shortage in high-quality residential accommodation.”
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