The Polish Development Fund (PFR) has procured BGK Nieruchomości, which executes investments within the Apartment Plus governmental programme following an agreement between PFR and Bank Gospodarstwa Krajowego. The ultimate aim of this undertaking is to integrate investment instruments within a single capital group and facilitate the execution of investments in reasonably-priced housing.
“In Poland, over 83 per cent of apartments are purchased by their end-users, usually through a mortgage, which results in a high debt-index. In Germany, for example, end-users purchase only 51 per cent of apartments. The development of the rental housing market with an option of access to ownership by the PFR Group’s housing development fund is an attractive offer for Poles as it does not incur high loans. The acquisition of BGK Nieruchomości constitutes an element of PFR Group's strategy in which PFR is the main entity in investment activity. We would like to accelerate investments within the scope of the Apartment Plus programme over the next few months,” said Paweł Borys, Polish Development Fund President.
A key element of the programme consists in changes in the law aiming at facilitation of housing investments, increasing accessibility of land for potential housing investments and enabling investors to acquire additional capital. Within the scope of the programme, a Housing Sector Fund for Development was established and its assets are managed by BGK Nieruchomości. The company will commence its operations shortly as PFR Nieruchomości.
The Housing Sector Fund for Development invests in new housing projects in both towns and cities. At present, the Fund is conducting analyses of locations declared by local governments, public capital companies and private entities. These locations will be developed with 100 thousand apartments worth over PLN 20 billion.
A key element of the programme consists in changes in the law aiming at facilitation of housing investments, increasing accessibility of land for potential housing investments and enabling investors to acquire additional capital. Within the scope of the programme, a Housing Sector Fund for Development was established and its assets are managed by BGK Nieruchomości. The company will commence its operations shortly as PFR Nieruchomości.
The Housing Sector Fund for Development invests in new housing projects in both towns and cities. At present, the Fund is conducting analyses of locations declared by local governments, public capital companies and private entities. These locations will be developed with 100 thousand apartments worth over PLN 20 billion.
