CEE developer and real estate owner Ablon has completed the acquisition of a 88,000 m[sup]2[/sup] plot in the Polish port city of Gdansk for the development of a three-storey luxury residential complex on the site of a marina. The total cost of the project is put at EUR 95 mln and will also include retail, leisure and parking facilities. Construction is expected to start within 15 months and will be carried out in four phases.
CEE developer and real estate owner Ablon has completed the acquisition of a 88,000 m2 plot in the Polish port city of Gdansk for the development of a three-storey luxury residential complex on the site of a marina. The total cost of the project is put at EUR 95 mln and will also include retail, leisure and parking facilities. Construction is expected to start within 15 months and will be carried out in four phases.
Ablon said it expects the project to generate an income of up to EUR 220 mln once all four phases have been completed. Ablon also has an option to buy another 30,000 m2 close to this project.
