First phase of CITYFLOW with financing from PKO Bank

OKAM has signed an agreement with PKO Bank Polski to finance the first phase of Warsaw’s CITYFLOW development. This phase of the project, which is being carried out at 7, 7a, 7b, 7c Redutowa Street in Warsaw, will involve the construction of two buildings with 333 flats, ranging in size from 29 to 193 sqm. Selected units on the top floors will have terraces, while others will have balconies or gardens. The project envisages the creation of more than 390 parking spaces, stands for single-track vehicles, garage boxes and storerooms.

As Marcin Michalec, CEO of OKAM Capital, emphasises: – ‘Obtaining financing is an important step in the realisation of our next Warsaw investment, CITYFLOW. Strong customer interest and the sale of approximately 40 per cent of the flats within the first stage – translated into a positive decision by PKO Bank Polski and testify to the potential of the project. We will create a multifunctional living space in the developing part of Wola. It will provide residents with numerous eco-solutions and amenities with activity zones. In the project, nearly 40 per cent. – i.e. approximately 1.5 hectares of the plot – is biologically active.

In accordance with OKAM’s New Quality Policy, the entire development will be characterised by a number of amenities for residents and pro-environmental solutions. These will include a vegetable garden, a secluded oasis with deckchairs and hammocks, an amphitheatre, a street workout zone, a playground and an area dedicated to pets.

On behalf of OKAM, Joanna Ławniczak, Chief Financial Officer, was responsible for the financial side of the transaction, while Wojciech Kołakowski, Senior Lawyer, Real Estate & Commercial Law, was responsible for the legal side.

Completion of the first phase of the investment is scheduled for the first quarter of 2025.