ECE Work & Live has established a residential development joint venture with GH Development, with Colliers Corporate Finance & Living Services Team acting as advisor to ECE.
Under the transaction, ECE holds a majority stake while GH Development will assume responsibility for the local development and management process. The joint venture will initially develop three projects in Warsaw with more than 550 residential apartments.
Both parties plan to develop further projects in Poland, focusing on Warsaw, Wrocław, and Tricity. The first project with more than 100 residential apartments is located on Orzechowa Street in the Włochy district of Warsaw.
"ECE is actively seeking investment opportunities in European metropolitans which benefit from a strong growth trajectory. With its development over the last years and strong future outlook Poland is at the core of this strategy," says Leszek Sikora, Board Member of ECE Work & Live branch in Poland. "We are proud to take the next steps in the evolution of our development company together with ECE. The shared family values, belief in the Polish real estate market, and long-term strategy of both companies form the foundation for a collaboration in the future," comments Thomas Van Poucke, CEO of GH Development.
"Joint ventures are becoming a popular solution in the residential sector, allowing developers to scale operations and diversify risk. We observe growing interest in this cooperation model," says Michał Witkowski, Director of Corporate Finance & Living Services at Colliers.
ECE Work & Live is part of ECE Group, one of Europe's largest real estate companies, while GH Development is a Belgian developer with over 100 years of experience, active in the Polish market since 2018.
