Poland amasses 450 ha land for housing program
February 10, 2017
The Polish government has gathered around 450 ha of land plots in 66 cities and towns for its housing program Mieszkanie+, which could give rise to 56,000 apartments, after Polish railways operator PKP handed over 250,000 hectares with potential for 40,000 apartments.
The construction of the first residential estates could be launched yet this year, according to Dziennik Gazeta Prawna's findings.
The partnership between PKP and the state bank BGK's real estate unit BGKN, where the former provides land and the latter financing, will entail setting up SPVs for realization of projects in particular locations.
Financing will initially come from a municipal fund whose assets will be increased as Poland shifts a part of means initially earmarked for the housing rental part of the program. That fund will be reduced from PLN 5 billion planned initially to PLN 1.5-2.0 billion.