Warsaw in leasing

Warsaw City Hall wants to earn even 1 billion zloty on leasing of municipal estate. There is no city which have tried to do something like that so far. The officials have been already preparing a list of buildings. "They don't exclude that in the future the Palace of Culture and Science will be added to the list", according to the newspaper "Życie Warszawy".

Initial rules have already been planned. "We sign an agreement for 10-15 years with a company that is interested in transaction. They pay money on the city account on a one-off basis", explained the head of real estate economy office Marcin Bajko to the newspaper. "The City Hall has money and the company earns for years on the building. After expiration of a tenancy the building comes back to the city", he added.

Source: Życie Warszawy