Poleczki Business Park awarded green certification

The Green Building Certification Institute (GBCI) in Poland has conferred gold LEED for Core & Shell pre-certification on the second construction phase of the Poleczki Business Park project. The scheme is being developed by a 50:50 joint venture between Austrian real estate companies CA Immo and UBM Realitätenentwicklung. CA Immo is operating through its New Europe project development fund.

Poleczki Business Park will provide 14,000 m² of office space close to Warsaw Airport. The current section of the office complex in Warsaw covers two buildings (B1 and C1) that will provide a rentable effective area of 21,000 m². The structures are the first properties in Poland to be granted certification of this kind. Investment in the overall construction project is estimated at EUR 250 mln.

According to Dr. Bruno Ettenauer, Chief Executive Officer of CA Immo, 'The pre-certification vindicates the high standards that we bring to construction development. It is important to us because it makes the quality of our buildings more transparent to the market and open to scrutiny.'

CA Immo was founded in 1987 to develop and invest in commercial real estate (and in particular offices) in Austria, Germany and Eastern Europe. Taking account of properties worth some EUR 1.5 bn acquired through the takeover of Europolis, CA Immo's property assets at the start of 2011 stand at just over EUR 5 bn. CA Immo is listed on the Vienna Stock Exchange.

The company has property assets worth around EUR 676 mln in Poland, equivalent to some 13% of the Group's total property assets. UBM Realitätenentwicklung, also listed in Vienna, is a real estate and property developer active in Western, Central and Eastern Europe.