Warsaw Leads Emerging European Markets To Showcase At Cityscape 2005

Warsaw will make a high profile appearance at Cityscape 2005, the Middle East’s Premier International Property Investment and Development Event, due to take place in Dubai this September.

Pundits will get the chance to view some of the most exciting property investment opportunities in the rapidly developing market of Warsaw, Poland - where steady economic recovery, could offer shrewd investors a sound return of investment.

In May 2004, The Czech Republic, Hungary, Poland, Estonia, Lithuania, Latvia, Slovenia and Slovakia, joined the European Union (EU) and as a consequence have opened the gates to Foreign Direct Investment, economic growth, competition and jobs. With massive EU funding certain high profile infrastructure projects are already underway, as the east begins to redevelop the neglected Soviet building programmes of the 1960s and ‘70s.

In addition, it is estimated that around a third of the total population of the ‘Eastern Eight’ will need to be re-housed in the next 20 years alone as cheap communist housing crumbles and new buildings take their place.

Poland leads the way in terms of economic growth and reintegration into the European urban matrix. Warsaw is the scene of many impressive developments at the moment including a shopping centre, a 25,000 square metre office, service and hotel building and one of the largest multi-use developments currently under construction in Europe.

Business, shopping and entertainment will all be found under one roof at Zlote Tarasy where 45,000 square metres of office space and 63,500 square metres of retail space will be topped with an eight-screen cinema and 1,664 parking spaces. It is located in a catchment area of 900,000 people living within a 15-minute drive. The 225,000 square metre project in the centre of Warsaw is scheduled for completion by spring 2006.

“Local and regional investors looking for new and emerging markets with attractive rates of return will be impressed by the portfolios on offer at Cityscape,” said Franck Dailles, Project Director, Cityscape.

The Middle East’s premier international property investment and development event, Cityscape 2005 takes place from September 17-20 at the Dubai International Exhibition Centre.

(Source: www.menareport.com)

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