Grupo Lar Polska and Galio Group to develop residential complexes with 1,000 apartments in Poland

Grupo Lar Polska has signed a joint venture agreement with Lithuanian developer Galio Group to carry out several residential projects in Poland, with a total investment estimated at PLN 200 million. The developments will include housing estates comprising approximately 1,000 apartments. Under the partnership, Grupo Lar Polska will act as the managing partner, responsible for land acquisition, architectural design, construction management, and commercialization of the projects. Galio Group will serve as the strategic partner. The first joint project will be an upmarket residential development located in Warsaw's Praga-Południe district, with apartment sales expected to start in 2025. Representatives of Grupo Lar stated that detailed information about the investment will be disclosed at a later stage. It is worth noting that earlier this year, SPV Projekt A — a company jointly owned by Grupo Lar and Develia — obtained permits for the redevelopment of a 2-hectare property in Warsaw at 23/31 Grochowska Street, near Mglistej Street. The planned multi-stage development will include 564 residential units with a total gross floor area of approximately 63,000 m². The architectural design was prepared by the Kulczyński Architekt studio