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5th Avenue Holding grows in Mokotów

Rafał Ostrowski 12 June 2018

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał is a journalist at ‘Eurobuild CEE’. Previously he worked for Wydawnictwo Murator and for Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and published photo-reportages from his travels to Asia, where lived and worked for some time. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. He enjoys sailing, travelling and family life. For ‘Eurobuild CEE’ he specialises in eastern European markets and is responsible for the film direction of Eurobuild TV.

5th Avenue Holding grows in Mokotów
The seven storey building has been designed by AGK, a Warsaw-based architectural firm

POLAND Real estate investor 5th Avenue Holding has bought a 0.25 ha plot on ul. Postępu 15A in Warsaw’s Mokotów district, which is intended for the future development of a 167-room Holiday Inn Express hotel.

The seven storey building has been designed by AGK, a Warsaw-based architectural firm. The ground floor will include an open lobby to serve as a place for meetings and the hotel will also include several conference rooms. Construction is scheduled to begin in July of this year, with completion planned for September 2019. The selection of the general contractor is currently underway. Holiday Inn Express is the second hotel project in which 5th Avenue Holding has a stake, having also invested in the Holiday Inn Warszawa Mokotów, which is currently under construction at the junction of ul. Gintrowskiego, ul. Cybernetyki and ul. Obrzeżna. “According to a report by the Warsaw Tourist Office, Warsaw is the most attractive tourist and business destination in Poland. In recent years, the number of domestic tourists has increased by 70 pct, while the number of foreign tourists has seen a 46 pct increase, resulting in 10 mln people visiting Warsaw annually. The purchase of the lot on ul. Postępu therefore is a part of our strategy to increase our involvement in the most promising sectors of commercial real estate,” says Jakub Robel, the CEO of 5th Avenue Holding.

Both the Holiday Inn and the Holiday Inn Express brands are owned by the InterContinental Hotels Group (IHG) which has around 5,200 hotels around the world.





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