Vastint Poland has signed a preliminary agreement for the purchase of a plot of more than 9,000 m2 at Piotra Skargi in Katowice, where the Hotel Silesia has been deserted since 2006. The developer is planning to demolish the existing building and to develop a complex of modern office and hotel buildings.

"At the moment we have agreed on the prerequisites of the purchase with the private owner of the plot. We expect the transaction to be closed by the end of 2017. This is Vastint’s first acquisition Katowice, but I believe that there will be more transactions. We are interested in purchasing more land in the city, and further strengthen our position in the local market," says Roger Andersson, Managing Director Vastint Poland.

The developer hopes to start construction in 2018.