Thursday, February 2, 2023 - 17:40

Statement of Polski Holding Nieruchomości S.A.

in connection with the speech of MPs

Monika Falej and Tomasz Trela


With reference to the speech of MPs Monika Falej and Tomasz Trela on 2 February this year on the sale of the real estate located in Warsaw at ul. Łowicka 39A, we would like to give the following explanations.

Polski Holding Nieruchomości S.A. (“PHN”) is an independent commercial law company that owns and manages its assets in such a way as to maximize its financial results. The company is listed on the Warsaw Stock Exchange and is subject to strict legal regulations governing the Polish and European capital markets.

The real estate located at ul. Łowicka 39A has been for sale since 2015. In previous years, sales procedures were conducted both in the form of tender negotiations and tenders, which did not lead to the completion of the transaction. There were three proceedings: the first in 2015 with a minimum starting price of PLN 5,617,000 net, the second in 2017 with a minimum starting price of PLN 4,928,000 net, and the third in 2018 with a starting price of PLN 5,100,000 net. The sale was not finalized.

The last tender for this real estate began in September 2022 and no bid was submitted. Then, once again, the company published information about the sale. The main criterion in this proceeding was the price. As part of the procedure, three bids for purchase were submitted, including from the Polska Wielki Projekt Foundation. Price negotiations were conducted with all three parties to the proceeding. The bid submitted by the Polska Wielki Projekt Foundation was the most advantageous of the three bids received.

All tenders for the sale of properties, including the aforementioned real estate, are published on the company’s website, on the website of the Ministry of State Assets and on external, professional advertising portals. In addition, a banner was placed on the property indicating that it was for sale, along with a phone number which any interested party could use.

Our Group’s real estate portfolio, comprising more than 150 assets, is at least once a year comprehensively valued by independent valuers. We cooperate with the largest international companies with recognized market positions. Moreover, additional valuations are made for all properties intended for sale during the sale process, confirming their current market value. It must be emphasized that all properties that we sell are sold at a price not lower than their market value. In the case of the real estate at ul. Łowicka 39A, the valuation for the sale purposes was prepared in a comparative approach, in accordance with current practice, by an international consulting company.