Hines and Kajima JV to provide for Poland’s rented resi market

Hines and Kajima are to form a joint venture to develop residential property for rent in Poland.

Kajima recently opened an office in Warsaw, led by head of Poland Jan Trybulski. The two firms expect to enter joint venture arrangements when the first deal is in sight.

Hines and Kajima plan to start pursuing joint projects in the second half of 2022 and then expand the portfolio. They said in a statement that the strategy will include pure development and value-add projects alongside redevelopment of existing facilities with a change of use. The combined teams will also seek joint solutions for operational management across the portfolio using their extensive experience in Poland and western markets.

The joint venture will target opportunities in Warsaw, Krakow, Wroclaw, Gdansk, and other key Polish regional cities.

“Hines in Poland has experience in both residential projects for sale and for rent and we have been researching the development of the PRS sector for some time,” said Wojciech Rumian, CEO, Hines Polska.

“Progressive economic growth, urbanisation and generational changes will drive this sector in the long term. The aim is to provide a distinctive product and a whole range of services that have an impact on the positive experience of future tenants,” he added.

Knight Frank introduced and advised Hines and Kajima.