YIT i NERP will build by KAPS's design a hotel complex with 786 units in Warsaw

YIT has signed a contract with the NERP fund concerning construction of complexes with approx. 1,000 apartments for lease in Warsaw. The contract includes the Smartti project, the construction of which is being prepared in the area of Postępu and Domaniewska streets. A subsidiary of Domena Property is currently obtaining permissions to begin the investment. The project concerns construction of buildings with 786 units with an area of 24,000 sqm. The design is being developed by KAPS Architekci. The construction works will be carried out in two stages; the first stage (208 units) will begin at the end of the 3rd quarter of this year, the second in the 4th quarter of this year. Let us recall that in December 2018, we reported that YIT had purchased a property with an area of over 9,100 sqm in Warsaw-Mokotów, originally assigned for the construction of a residential complex with service premises.
The agreement with NERP also includes the "Parkur Residence" building (116 units, contractor: Kalter) and "Nordic Bemowo" building (97 units, contractor: F.B.I. Tasbud), which are currently under construction. ■