Central Europe real estate developer, Ablon Group, has announced its first construction project in Warsaw, which it says will add substantial value to its portfolio.

The company said it had signed a construction financing contract and would begin building the Karolkowa Business Park in Warsaw 'in the near future', with completion expected in the next 20 months.

When built, the office complex will include 14,900 m2 of office space, 3,400 m2 of retail space on the ground floor and 260 underground car parking spaces.

Uri Heller, chief executive of Ablon, said Warsaw was one of Central Europe's most dynamic real estate markets.

"There is strong demand in the city centre for newly built, quality office and retail space," he said.

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