OKAM signed an agreement with PKO Bank Polski for financing the first stage of the CITYFLOW investment in Warsaw. As part of this phase of the project, carried out at 7, 7a, 7b, 7c Redutowa Street in Warsaw, two buildings with 333 apartments with areas ranging from 29 to 193 m2 will be built. Selected premises on the top floors will include terraces, balconies or gardens are provided for others. The investment involves the creation of over 390 parking spaces, stands for two-wheelers, garage boxes and storage rooms.
As emphasizes Marcin Michalec, CEO of OKAM Capital: - Obtaining financing is an important step in the implementation of our next Warsaw investment - CITYFLOW. The great interest of customers and the sale of about 40 percent of apartments as part of the first stage - translated into a positive decision of PKO Bank Polski and testify to the potential of the project. In the developing part of Wola, we will create a multifunctional living space. It will provide residents with numerous eco-solutions and facilities with zones intended for activity. In the project, nearly 40 percent - i.e. about 1.5 ha of the plot - is a biologically active area.
In accordance with our New Quality Policy, the entire investment will be characterized by a number of amenities for residents and pro-environmental solutions.
Joanna Ławniczak, Chief Financial Officer, was responsible for the financial side of the transaction on behalf of OKAM, and Wojciech Kołakowski, Senior Lawyer, Real Estate & Commercial Law, was responsible for the legal side.
The completion of the 1st stage of the investment is scheduled for the 1st quarter of 2025.
