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The Warsaw Voice » Real Estate » January 7, 2009
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The New Face of Wola
January 7, 2009   
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The Warsaw district of Wola is going through great changes. There are still huge differences between the east and west sides of the district, but the proximity of the city center and the large number of postindustrial sites make it an interesting place for investors.

Before World War II, Wola was an industrial, working-class district. After most of its industrial plants failed in 1989, the district started to have bad press and was seen as somewhat dirty and neglected. Most developers avoided Wola, concentrating on more popular parts of Warsaw instead.

Today, this is beginning to change. Wola's principal advantage is its close proximity to the city center and excellent public transportation links. When thinking of Wola, most people fail to realize that its eastern administrative border is right on Jana Pawła II Avenue, making it adjacent to both the ¦ródmie¶cie and Żoliborz districts. Numerous high-rise office buildings and hotels-like the five-star Hilton-are already there, in addition to shops, cafés and restaurants.

According to feasibility studies and urban planning guidelines, Wola will soon be home to more than 20 high-rises-like the Warsaw Spire and the Wolska Tower-most of which will be located on or around Towarowa, Prosta and Grzybowska streets.

Investors such as Ghelamco (with its Crown Square project), Pekaes (Grzybowska 81), PZH Vipol (Vipol Plaza III), IVG (Vector), Grupo Gestesa (Wawer Tower), and Celtic Asset Management (Aquarius II), already have projects in the works for Wola.

I am certain that many of the planned and ongoing projects, both office and housing, will have a positive influence on Wola's development and will contribute to strengthening its profile as an attractive, modern and vibrant district.

Ewelina Kałużna, Senior Consultant, Jones Lang LaSalle
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