Ghelamco has secured bank financing for its key project in Poland – The Bridge office complex in downtown Warsaw. The construction and investment loan was provided to the developer by Santander Bank Polska, which will also be an anchor tenant of the skyscraper.
Ghelamco The Bridge, part of Ghelamco Group, has entered into a loan agreement with Santander Bank Polska to finance the construction of The Bridge project. Under its terms, the company will be granted a construction loan of nearly €181 million to finance or refinance construction costs, a loan to finance VAT in an amount not exceeding PLN 35 million, and an investment loan (granted subject to conversion of the construction loan) of nearly €185 million.
“The financing obtained will allow us to complete the construction of The Bridge in a timely manner, but also to maintain the highest level of finishing and the envisaged solutions. This will be the most technologically advanced and sustainable project in our company’s history. I believe that, like Warsaw Spire once did, The Bridge will become a benchmark for the Polish office market for years to come and will set the bar high. Our point of view is also shared by our partners, and this is confirmed by the extremely important contracts we have recently signed. Santander Bank Polska has not only become our anchor tenant but has also provided a loan that allows us to commit to delivering an office building that sets a new standard on the market”, says Jarosław Zagórski, Managing Director, Ghelamco Poland.
“We would like to congratulate Ghelamco on their vision of creating a fantastic office space in Warsaw that is the perfect blend of old and modern architecture. Santander Bank Polska is proud to support Ghelamco with its market-leading ESG and ecological credentials and will continue to support all such projects that benefit Poland”, says Brendan Long, Head of Property, Santander Bank Polska.
At the end of September, Santander Bank Polska, one of the largest financial groups and the largest bank with private capital in Poland, became an anchor tenant of The Bridge skyscraper, which is under construction in the business centre of Warsaw. The bank signed a lease agreement with the building’s developer and investor, Ghelamco, for an area of about 24,500 sqm (nearly 21,000 sqm of usable space on 19 floors), almost half of the office complex. It has been the biggest lease transaction on the Polish office market since 2022.
The Bridge is an office complex being built at Plac Europejski in Warsaw’s Wola district. It combines the historical building of the former Bellona Publishing House with a 40-storey skyscraper. In total, the two buildings will deliver 52,000 sqm of office space to the market.
The Bridge will have numerous environmentally friendly solutions. This is already evidenced by SmartScore and WiredScore certifications with the platinum rating, and ultimately also by WELL, BREEAM, Green Building Standard and Barrier-Free Facility with the highest rating. According to Ghelamco’s ESG strategy, The Bridge is to be energy neutral and powered by 100% clean energy. In addition, the skyscraper will implement vacuum sewer technology, allowing to minimize water consumption in toilets by up to 75 per cent a year.
The building will use Ghelamco’s proprietary operating system, Signal OS, which allows for, among other things, sustainable utility management. It includes a mobile application that allows tenants to move around the office building without an access card or reserve a room or parking space. The Bridge will also use special anti-pandemic solutions to prevent the spread of viruses, including UV lamps in lifts and air handling units. The building will provide an underground parking lot with charging outlets for electric cars. Cyclists will get to use more than 160 bicycle spaces, including 33 for electric bikes, as well as locker rooms with showers.
The Bridge was designed by Dutch architectural firm UNStudio in cooperation with PROJEKT Polsko-Belgijska Pracownia Architektury. The project is scheduled to be completed in Q1 2025.
