BBJ: Cordia building tallest residential project so far in Warsaw
Cordia, the Hungary-based Futureal Groupʼs residential development subsidiary, has started building its highest residential building project in Warsaw, named Horyzont Praga, bringing 164 apartments on 18 floors right next to the river Vistula.
Work began in August, with an expected delivery date of Q3 2021, further strengthening Cordiaʼs established presence in Poland. This year alone, Cordia completed two projects, with two more currently in progress. In Warsaw, the company completed the first phase of the 118-apartment Zielone Bemowo project, while also finishing the 185-apartment Supernova project in Kraków. In the same city, the 70-apartment Lotniczówka development is still in progress.
So far, Cordia has delivered more than 1,000 apartments on the Polish market. The company says it plans on building a further 1,400 apartments in Warsaw, Kraków, and Gdańsk.
“The Polish real estate market has always provided good investment opportunities, as the countryʼs economy and the newly-built apartment market remained stable even during the years of the financial crisis,” says Tibor Földi, CEO of Cordia. “Apart from economic stability, the market is predictable as one can develop within an appropriately regulated framework, and the VAT of apartments is 8%. Accordingly, Cordia will keep expanding its Polish portfolio in the future, the preparation for further significant projects is in progress, and we have serious growth plans.”
The tallest project by Cordia so far, Horyzont Praga will be 54.5 meters high, with the size of apartments varying between 35 and 128 square meters. Every non-ground floor apartment has its own balcony, while those on the ground floor are allocated 50 sqm gardens. The two-level parking garage features separate bicycle storage units and EV charging points. The apartments of Horyzont Praga promise an exceptional panorama of Warsaw.
The project is aimed at young customers who consider excellent infrastructure and accessibility to every part of Warsaw important, the company says. Downtown is only 15 minutes away from the development, with Chopin International Airport within a 20-minute travel distance. Business district Służewiec also falls within the 25-minute range. The direct vicinity of Horyzont Praga features several cafés, restaurants, education and healthcare institutions, shopping centers, parks, and even a cinema.