• The investment value of the almost 28.000 m² office and business building is almost € 75 million.

Warsaw, 2 October 2014----The STRABAG Real Estate GmbH (SRE) is developing an office and commercial building in Warsaw. “ASTORIA” with a gross floor area (GFA) of nearly 28,000 sqm will be erected right in the center of the Polish capital, directly between the Old Town and the city’s business district. The contractor STRABAG Sp. z o.o. has already started the works. The completion of the € 75 million project is planned for the first half of 2016.

“ASTORIA” will offer ca. 17,600 sqm of office space and 1,400 sqm of commercial area, accessible from two representative entrance halls. Featuring modern amenities, the property also offers its future users a flexible and efficient office concept, providing diverse applications, such as cell, combined or open-plan offices. Owing to a LED lighting system and concrete core cooling to control room temperature, the operating costs of “ASTORIA” will also be significantly lower than those of “traditional” real properties. Furthermore, SRE’s project additionally relies on sustainability and seeks the LEED gold certification. With metro and rapid railway stations within walking distance, the building offers excellent connections via the public transportation system, whereas its underground garage for almost 100 parking spaces makes it easily accessible by car.

In the late 1980s, the STRABAG Group already developed the hotel, office and convention center “LIM Centre” in Warsaw in a joint venture and had taken over the completion of the existing structural works. At that time the project paved the Group’s market entry to the Polish construction sector. For SRE, “ASTORIA” is the first own project development in Poland and will also serve as the company's entry to the Polish project development market. The developers responsible for the project, Michael Markart and Erol Milo, are aware of the advantages of the project: “ASTORIA could not be better located. The cultural, public and international facilities in the immediate vicinity make for short distances and an interesting environment”, explains Mr. Markart. Mr. Milo adds: “For businesses, the building offers an opportunity for address generation with a very special flair, because the ‘ASTORIA’ building is located exactly on one axis and within sight of the historic Palace of Culture“. Thus, it takes up a prominent place with unique visibility in the center of Warsaw. The architecture of the building is thereby an eye catcher: the dominant, high-quality and modern façade is shaped by glass, metal and stone. At the same time, with the delicate assumption of the style elements of adjacent architectural gems, “ASTORIA” fits harmoniously and seamlessly into the environment.

For the General Manager of SRE, Thomas Hohwieler, the development of “ASTORIA” is the next step in the development of the company's strategy: “In Austria and Sweden, we are currently executing our first projects at an international level. With the development of ‘ASTORIA’ in Warsaw, we are extending our international presence”. The decisive advantage for SRE is the already existing presence of the Group in Poland, meaning that the entire infrastructure required for the development and execution of the project is already in place. “Thanks to this, we can not only bring our 50-year expertise in project development gained on the German market to Poland, but also implement our successful strategy of interdisciplinary cooperation with our construction colleagues in the local market“, explains Mr. Hohwieler.


STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even the most complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 73,000 employees allows us to generate an annual output volume of about € 14 billion. At the same time, a dense network of numerous subsidiaries in many European countries and, increasingly, on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com.