News Article Cordia development Poland residential Warsaw
by Property Forum | Residential

Cordia, a major player in the Hungarian market owning numerous property developments in Romania and in three Polish cities, has started construction of its tallest residential property ever in Warsaw. Being built on the shore of Vistula river, the 164-apartment premium-class building offers easy access to any part of the Polish capital.

The construction work of Horyzont Praga located on the bank of Vistula river in Warsaw began in August this year. The 18-floor residential building is scheduled to be completed by the third quarter of 2021.

This development is not the first of Cordia in Poland, which has a total of 3,700 apartments are currently being built in the CEE region (Hungary, Romania and Poland). The company has already finished two projects this year, and two others are under construction in Poland. The first phase of Zielone Bemowo with 118 homes in Warsaw has been completed and the second phase with 200 apartments is in progress; the Supernova project with 185 flats in Krakow was delivered this year, and the Lotniczówka of 70 apartments is still under construction.

The company has handed over more than a thousand homes on the Polish market so far and are about to build another 1,400 apartments in Warsaw, Krakow and Gdansk in the future.

„The Polish property market has always provided good investment opportunities, since the domestic economy and the newly-built apartment market have always remained stable, even during the years of the global financial crisis. Beyond economic stability, the market is also predictable as developments can be carried out within a properly regulated environment, and VAT of new residential buildings is 8%. Accordingly, Cordia will continue to expand its portfolio in Poland, further significant investments are being prepared, and we have serious growth plans”, said Tibor Földi, CEO of Cordia.

The 54.5-meter-high Horyzont Praga with a total of 164 apartments will be the tallest building in Cordia’s European portfolio, with homes varying in size from 35 to 128 square meters. Every non-ground apartment has its own balcony, while the ground floor homes have their own garden of up to 50 square meters. Also, a separate bicycle storage and electric car charging stations will be installed in the two-storey cark park underground.

The direct vicinity of Horyzont Praga features several cycle paths, cafes, restaurants, educational and health facilities in the area, but there is also a cinema, tennis club, several shopping centres, a park, a public baths and a fitness centre as well.