The city of Płock—at one time the capital of Poland—is in the Masovian voivodship, some 110 km north of Warsaw. Beyond its cultural importance, Płock is well-known for its oil refinery and petrochemical complex, owned by PKN Orlen, which is the largest in Poland. The site of the planned development is located in Kostrogaj, one of the 23 administrative estates (osiedla) of Płock. It is just under 3 km to the north of the Old Town and slightly over 1 km west of the city’s main bus and railway station. A major feature of the site is its proximity to Atrium Mosty—a well-established shopping centre occupying 18,700 m2 of GLA with 70 stores— within 450 meters of the plot. Historically, the Kostrogaj osiedla has been associated with light industry, but is now being increasingly coveted for development into residential housing. The Group, noting this trend, successfully applied to the relevant authorities to change the land use from “industrial” to “residential” under a so-called Special Law (Specustawa). The typical profile of residents is expected to be that of middle-income professionals who are employed locally and are seeking modern accommodation. A huge positive for future demand for residential apartments in Płock is the fact that PKN Orlen is currently developing its PLN 13.5 billion Olefin III project to increase production capacity by 60%. This project is slated for completion in 2025 and is Europe’s largest petrochemical investment in 20 years. Other companies of note with headquarters in in Płock include Levi Strauss Poland, CNH Polska, Budmat and Dr. Oetker Dekor.