The scheme has breathed new life into the district

Can you please tell us about the Karimpol Group?

We are a privately held real estate development company with a portfolio of commercial assets across Central and Eastern Europe which we have built over the 30 years we have been in business. We have completed more than 500,000 square metres of commercial projects with a pipeline totalling over 250,000 square metres under development. Office buildings in the Czech Republic and Poland account for the majority of our projects, and we have a number of business parks and logistics facilities across the region, particularly in Austria and Slovakia.

How has the importance of sustainability changed over your 30 years in real estate development?

It has always been important and has continuously evolved as new innovations, technologies and materials are discovered. The requirements set by local authorities and particularly the large occupiers - with their increasing corporate governance – demand the highest standards are met so environmental features have certainly become more prominent. This flight to quality from both occupiers and institutional investors when they are looking to acquire a building has been a growing trend in recent years and I think will only accelerate as a result of the global pandemic, although it is difficult to say for sure at this stage.

Who is driving the innovation to futureproof buildings – is it the developers, occupiers or local authorities?

I would say it is a combination of all three. As the end-user and customer, the occupier is clearly very influential, while the local authority has a responsibility to protect the interests of the local region, so as the developer we need to work together and bring our own expertise and experience to ensure we are delivering the highest quality development for everyone.

How significant is the social value Karimpol brings to the communities in which it is delivering projects?
Major office developments have the potential to act as a catalyst for wider regeneration of districts and communities. A good example of this is our Andel Park A & B scheme in Prague. We identified a brownfield site, which was formerly home to an old factory, and developed a 33,000 square metres office and retail development which has had a transformational effect on the Prague 5 area of the city.

The scheme has breathed new life into the district, attracting further widespread investment which has led to new restaurants and shopping centres opening, new and refurbished residential developments and improvements to roads and local infrastructure.

A further example of an office scheme providing the impetus and momentum for change is the Skyliner tower in Warsaw. A contemporary office building located in the Wola district, it is one of the city’s highest skyscrapers and has reshaped and elevated the location and helped Warsaw achieve its vision of being recognised as the financial centre of Eastern Europe.

What would you say is the key to maximising the positive social impact of your developments?

Partnership. It is vital that all these major projects are approached not in isolation but through comprehensive engagement with the local community at every level. From the outset, a good, close relationship with city authorities is essential, with a coordinated approach ensuring the development brings maximum benefit to the local economy and community and supports the overall strategy and ambition of the region. Furthermore, throughout the supply chain we always engage with local contractors, sub-contractors and service providers to support local businesses and jobs.