Singapore-based investment company AT Capital Group has acquired the development plot at the junction of Grzybowska and Żelazna streets in Warsaw, Poland for the planned 140-metre-high Liberty Tower for an undisclosed price.
AT Capital Group was advised on the transaction by Savills.
Hywel Phillip, director of the AT Capital Group, said “We are delighted to have completed our first investment in Poland. Poland is an attractive market for real estate investment with great growth potential.”
AT Capital Group plans to develop the Liberty Tower as a mixed use commercial and residential complex within a 140-metre-high tower (41 floors).
“The plot, at the junction of Grzybowska and Żelazna streets, is one of the most prestigious and still undeveloped sites in Warsaw. This part of Wola continues to see new multifunctional projects, including the adjacent Browary Warszawskie or Fabryka Norblina complex. This transaction illustrates the growing importance of mixed-use developments in the Polish investment market,” says Kamil Kowa, Board Member, Head of Corporate Finance and Valuation, Savills Poland.
“I am very excited that thanks to Savills support Warsaw city centre has a great opportunity to enrich its skyline with another landmark investment. The legacy and approach of AT Capital Group allows to assume that Liberty Tower will be turned into a fantastic development, which this location deserves and was waiting for – commented Tomasz Buras, CEO of Savills Poland”.