Tariq Ramadan, Chairman of Tharaa Holding and Krzysztof Michalski, President of MPA during the signing
With property value of USD 600 million, the Military Property Agency of Poland (MPA) signs an MOU with UAE-based Tharaa Holding. As part of the Annual Investment Meeting conference and exhibition, a memorandum of under standing was signed yesterday between the Military Property Agency (MPA) of Poland and UAE-based Tharaa Holding to develop and promote properties owned by the agency in Poland.
As part of the MOU, Tharaa Holding through its development company Hadara, will develop selected land owned by MPA after studying the feasibility and valuations of the project. Tharaa Holding will also assist MPA to promote its properties in the Middle East through it’s real estate brokerage arm RichVille Real Estate which operates out of Dubai.
Commenting on the signing, Krzysztof Michalski, President of MPA said: “This MOU paves the way for serious cooperation between our two companies to develop and promote our very attractive inventory of plots which were previously owned by the Polish Armed Forces at very strategic locations in the country”.
“We are excited about this opportunity to apply our expertise gained through the development boom over the past few years in Dubai on opportunities outside the Middle East given the economic and political problems here in the area. Of specific interest to us is a 55 hectares land with 2250 meters long fortress building which was built in 1836 and could be a perfect mix-use development project given its outstanding location the Vistula river, and near a newly established airport and train station. The land is just 30 km from the heart of Warsaw – the capital city of Poland,” said Tariq Ramadan, Chairman of Tharaa Holding.