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News

30.01.2020

DEVELIA SOLD WOLA CENTER FOR APROXXIMATLEY 435 MLN PLN

Develia has finalized the sale of Warsaw office building Wola Center for 101.9 million EUR net, which is about 435 million PLN.

- The sale of the Wola Center office building is a consequence of our strategy in the commercial segment consisting in building, commercializing and selling investments. By the end of the year, we plan to sell another building - Wola Retro - says Michał Hulbój, acting president of Develia.

- We assume starting at least one commercial investment per year. In 2020, it will be Kolejowa project in Wrocław, which is currently at the stage of obtaining administrative permits - he adds.

Wola Center was built in 2013 and has 31,300 sqm of office space and 2,000 sqm of service space. The building is fully commercialized.

Part of the money received from the buyer, will be used to repay a 45.2 million EUR loan taken out for the construction of this project. The remaining 56.7 million EUR will be kept by the company.

Following this transaction, Develia's commercial real estate portfolio includes: Arkady Wrocławskie, Sky Tower and Wola Retro.

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