Skanska sells two Katowice office buildings in 59 million-euro deal

Skanska Polska, a leading international project development and construction company, has sold two buildings in its Silesia Business Park in Katowice to ISOC Group, from the Philippines, for 59 million euros.

“Over the last few years, the CEE commercial real estate market has seen an increasing flow of newcomers from Asia, South Africa and the Middle East. In 2016, Skanska divested a hotel in Warsaw to a Qatari investor and now we are delighted to welcome our first partner from the Philippines,” said Adrian Karczewicz, head of divestments at Skanska’s commercial development unit in CEE.

The two A-class office properties offer a total leasable area of around 24,600 square metres. The buildings benefit from excellent exposure in one of the most sought-after locations in Katowice – the city’s rapidly developing business district. The two buildings are already 72 per cent leased to technology and IT sector tenants such as PwC, Accenture and NGA Human Resources. Building C of the complex is already LEED Gold certified (Leadership in Energy and Environmental Design), while Building D is expected to receive the certification in Q2 2019. Both properties are part of the four-building office complex, which is now entirely divested.

“We see Katowice as a vibrant centre that has connections with two other major destinations in Poland, Krakow and Wrocław. We are excited and eager to develop and expand upon our partnerships and presence in the country,” states Michael Cosiquien, chairman of ISOC Group.

“The ISOC Group is investing in Poland, particularly in Katowice as it reinforces the company’s push towards technology and innovation. With its booming BPO and BSC market, a highly educated labour force, good infrastructure already in place, and the quality of international investors, Katowice is ISOC’s most significant entry into the European market.”

This 59 million-euro investment is a sign of increased interest from foreign investors in the region, as well as the fact that there is a growing interest from companies outside of Europe and the US to invest in emerging Europe.

“The growing awareness of Polish regional markets among newcomers is a very encouraging sign for the Polish and CEE investment market,” concludes Mr Karczewicz