PPP Agreement Signed for US$300 million Housing Revitalisation Project in Poland

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PPP Agreement Signed for US$300 million Housing Revitalisation Project in Poland

Polish developer Develia and its subsidiary NP 11 have won the public-private partnership tender for the Nowy Port 2030+ redevelopment project in Gdańsk, Poland.

The project additionally involves the construction and sale of multiple residential and commercial units to the city, the restoration and renovation of nine historic tenement houses, and the development of public infrastructure such as a nursery, recreational spaces, a swimming pool, transportation facilities, and municipal housing. For delivering, constructing, and maintaining these public facilities, Develia will receive PLN 108.9 million (US$29.7 million) from the Gdańsk municipality.

The overall project budget is PLN 1.1 billion (US$300.5 million) net, with PLN 187.6 million (51.24 million) net earmarked by Develia for public infrastructure. Under the PPP agreement, Develia is responsible for constructing public facilities on behalf of the city and acquiring municipal land for commercial development. On the purchased land, the company will build over 45 structures comprising more than 1,000 apartments and commercial units. The sale of the first phase of the development is scheduled to begin in Q1 2027.

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