Ovo Wrocław emerges from the ground
Office & mixed-use developmentAfter years of stagnation, the Ovo Wrocław project is starting to take shape. Located at ul. Podwale 82-91 in the city of Wroław, the mixed-use project, estimated at app. PLN 260 mln, is being erected by Eiffage Polska Budownictwo. The development has been financed by Alior Bank. “We have already invested much too much in Ovo,” Ron Ben Shahar, a board member at Wing Properties, a SPV company that develops Ovo Wrocław and belongs to the Angel Poland Group-owned Star Group Poland, tells ‘Eurobuild CEE,’ with tongue in his cheek. The facility, which is set to be eventually completed in 2016, was previously scheduled to be completed in 2013. However, the construction work was halted due to the financial issues driven by the economic crisis. It wasn’t until last year that Ovo resumed work on the project, which features exactly the same architectural concept, designed by Gottesman-Szmelcman Architecture. The construction work started in April. “There was no cornerstone laying ceremony because the foundation stone is traditionally laid in a building’s corner and, as you know, Ovo has no corners,” Ewa Omasta, marketing and sales director at Wing Properties, explains. The project’s design was created in cooperation with JSK Architekci. “We always work with local architectural studios because they simply know the city much better. If we wanted to do everything ourselves pretending that we understand the area, it would be quite arrogant of us,” says Asaf Gottesman, concept architect at Gottesman-Szmelcman Architecture. The building will house luxury apartments, penthouses, a Double Tree by Hilton hotel, as well as office, retail and restaurant space. The extremely flexible, durable and seamless corian material developed by DuPont is to be used for finishing up the building’s facade. Currently, the ceiling of the -2 level, which will accommodate the hotel kitchen and ballroom, is being finished off. The ceiling of -1 level, where a casino, a fitness club and a swimming pool are to be located, is now completed in 90-pct. The ceiling of the ground floor on the other hand is now completed in 35-pct. The level will house gastronomy units with access to the green public patio, as well as retail space. The spa and wellness facilities available to hotel users, office tenants and residents of Ovo will be located on the highest, sixth floor of the building. “We want to choose suitable tenants for the project. Preliminary negotiations are already progressing but the only thing I can say at this point is that they are high-end international brands,” Ron Ben Shahar told ‘Eurobuild CEE.’ The work on Ovo is carried out in the “design&build’ system.
An open door to redefining the commercial real estate market in Poland
An open door to redefining the commercial real estate market in Poland
Walter Herz
The investment slowdown in the commercial real estate sector that we have been observing in Poland for over a year is primarily the result of the tightening of monetary policy arou ...
The retail sector is not slowing down
The retail sector is not slowing down
Walter Herz
The pandemic, conflict in Ukraine as well as inflation and high interest rates that recent years have brought have reshaped the real estate market around the world. The global slow ...
Retail parks – current opportunities
Retail parks – current opportunities
Avison Young
Over the last few years, retail parks in Poland were mostly developed in smaller formats, around 5,000 sqm, either adding to the existing retail landscape or introducing modern ret ...