For Ghelamco, 2024 was marked by the sale of the Warsaw UNIT office building. The developer also commissioned and fully commercialized Warsaw’s VIBE office building, announced new real estate projects in the capital and Gdynia, and reported satisfactory sales results in the residential segment. For this year, Ghelamco has announced more office and residential developments, as well as completion of its flagship project in Warsaw: the 174-meter skyscraper The Bridge in the city centre.
At the end of 2024, the 202-meter-high Warsaw UNIT providing nearly 60,000 square meters of leasable space, changed hands. The Stockholm-listed real estate company Eastnine AB bought the skyscraper from Ghelamco for €280 million (more than PLN 1.2 billion). This was the largest transaction concluded in the European office market last year.
“It was an important and optimistic signal for the entire office sector in Poland and Europe, as it marked a comeback to high-volume transactions not seen in the market for a long time. It also proves that investors’ appetite for significant, promising assets in attractive locations that meet stringent ESG standards is returning,” comments Jarosław Zagórski, Managing Director, Ghelamco Poland.
The second important event for Ghelamco was the signing of the largest lease agreement in Poland since 2022. Santander Bank Polska chose The Bridge skyscraper under construction at Plac Europejski as its new headquarters, where it will occupy the last 19 office floors with a total area of 24,500 sqm, including a sky-high terrace. The bank also provided Ghelamco with financing for the project: a construction-investment loan of approx. €180 million.
The Bridge was also chosen by the French Institute as its Warsaw headquarters. It will occupy 1,300 sqm of office space in the historical part of the complex – the building of the former Bellona Publishing House, which is undergoing extensive renovation and modernization. The Institute will move there next year.
Last year also brought new buildings. In June 2024, Ghelamco completed another office project in the Rondo Daszyńskiego area – VIBE. It was fully leased even before it opened. Recognized companies and brands in their industries, such as Knight Frank, MDDP, Reckitt, Porsche and Rödl & Partner, chose it as their headquarters.
Ghelamco is also having a momentum in the residential market sector. In 2024, Ghelamco launched the next, third phase of the Groen Konstancin development, which includes 22 terraced and semi-detached units. The project’s success is confirmed by the fact that two phases (a total of 96 units) have already been completed and sold and that more than 70% of the units in the third phase have been introduced for sale.
“This year we plan to launch sales of two more phases: Groen IV and Groen V, in which we will develop a total of 32 semi-detached units with garages,” says Jarosław Zagórski, Managing Director, Ghelamco Poland.
Another project that Ghelamco successfully continued to sell in 2024 was the second phase of Bliskie Piaseczno, located on Tukanów Street in Stara Iwiczna, near Warsaw’s southern border. Of the 140 units, the developer has already sold more than 70%. In 2025, the construction and sale of this development will be completed.
Plans for 2025
“We also plan to launch commercialization of projects in new locations for 2025. In the first quarter, we want to start selling apartments in a cosy premium development in the centre of Warsaw – THE SUITE Grzybowska 73, and also begin expanding outside the capital. In the heart of Gdynia, together with the Polish Yachting Association, we will begin the development of the Nova Marina Gdynia mixed-use complex, overlooking the marina and the beach. The project will combine nautical functions with luxury units for sale and will be a contemporary continuation of the idea of developing the South Pier, such an important place in the city’s waterfront skyline,” Jarosław Zagórski announces.
The year 2025 will be marked by completion of Ghelamco’s flagship project in Warsaw – The Bridge office complex with a total leasable space of 52,000 sqm. The project includes a 174-meter skyscraper designed by the Dutch UNStudio and PROJEKT Polsko-Belgijska Pracownia Architektury, connected by an 18-meter-high glass lobby with the historical Bellona building. Finishing works are currently underway inside the facilities, with completion scheduled for March.
At the same time, the company is planning further projects, not only in the office sector but also in the residential one, in Warsaw and beyond:
“We are looking for new land for more projects and entering the residential and luxury market more boldly. We are also changing our operating model to diversify into smaller ventures, instead of relying on flagship projects with great value, but more difficult to sell,” says Jarosław Zagórski.
Construction of the second phase of the VIBE office complex is scheduled to start this year. A 95-meter-high, 38,000-square-meter facility will be built between the already existing VIBE 1 building and The Warsaw HUB skyscrapers. Part of the development will be a generally accessible park and an adjacent pavilion with food amenities, which will be connected by a pedestrian walkway to Towarowa Street.
“It will be a green enclave, a place of tranquillity and relaxation for Warsaw residents and employees of the surrounding office buildings. We want to unveil its design later this year,” announced Jarosław Zagórski, and added: “There will be more new Ghelamco projects, but as we like to surprise, I won’t reveal all the cards – keep an eye on us."
