PHN and PKO BP finalize lease agreement for Skysawa office complex

Polski Holding Nieruchomości (PHN) and PKO Bank Polski have officially signed an agreement finalizing the lease terms for the Skysawa office complex. The deal concludes negotiations between the two companies, resolving mutual settlements related to finishing works in the Skysawa investment. This agreement enables the full utilization of the complex and strengthens their partnership moving forward.

The newly established agreement will have significant financial implications for PHN, improving the company’s liquidity and expanding its ability to secure future investments. Additionally, it paves the way for broader collaboration between PHN and PKO BP, potentially opening up new areas for joint projects.

“There was a strong willingness for dialogue on both sides to ensure the effective use of the Skysawa complex. Reaching an agreement with PKO Bank Polski, one of our key tenants, has been a priority for PHN. This not only resolves the situation but also sets the stage for future collaboration,” said Wiesław Malicki, President of PHN.

Szymon Midera, President of PKO BP, echoed the sentiment, emphasizing the determination shown by both parties to find a mutually beneficial solution. “After months of talks, both sides were able to reach a financially and legally satisfactory agreement. We are optimistic about our future cooperation with PHN.”

Skysawa, PHN’s flagship investment, was completed in June 2022, with the entire complex leased by PKO BP. Located in the heart of Warsaw, the development boasts a prime position, including a direct connection to the Rondo ONZ metro station, making it a highly sought-after location.

PKO Bank Polski, a leader in Poland’s banking sector, has been listed on the Warsaw Stock Exchange since 2004 and is a key component of the WIG20 index. As of the end of 2023, the bank’s total assets amounted to PLN 501.5 billion.

Polski Holding Nieruchomości (PHN) is one of the largest players in the commercial real estate market in Poland, and it has been publicly listed on the Warsaw Stock Exchange since 2013.

Source: ISBnews