Fundusz Sektora Mieszkań dla Rozwoju FIZAN

Fundusz Sektora Mieszkań dla Rozwoju (The Housing Sector Fund FIZAN) was created to increase the availability of price-attractive apartments and to cause the increase in the number of investments in local government infrastructure.

What does the fund do?

The fund is a long-term financial investor whose activities consist in financing and co-financing investments in the area of residential properties, implemented in cooperation with private entities, local governments and Treasury-owned companies.

Who may benefit from the Fund?

  • Local government units (Jednostki Samorządu Terytorialnego, or JSTs)

  • Private Entities

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What purposes or projects are implemented by the fund?


Meeting the housing needs of Polish citizens


Increasing the number of investments in the self-government infrastructure


Exploiting the potential of unused real properties

How does the financing by the Housing Sector Development Fund function?

Possible forms of financing include the acquisition of: shares or bonds of project companies established to carry out investment projects.

Area of operation and legal requirements:

Projects may be implemented throughout the territory of Poland – both in towns and cities.

The fund may invest in a project in cooperation with Investment Partners which, on their own behalf, hold the ownership title or perpetual usufruct right to real property.

The object of an investment may be real properties allowing the implementation of an Investment Project concerning target buildings with a dominant residential function, meeting the criterion of a building covered by the social housing program (Article 41(12a) and (12c) of the Value Added Tax Act) and real properties constituting Social Infrastructure, subject to the provisions of point 6.2 and point 6.3.

The object of an Investment Project may also be real properties constituting terraced houses.

Preference is given to the implementation of Investment Projects on areas to which local spatial development plans apply or for which it is possible to obtain a decision on land development and management conditions.

Investment Projects should be implemented exclusively in relation to real properties with regulated legal status.

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Investment period:

The fund provides for the implementation of investments over a period of 1.5 to 2 years, depending on the project. After the completion of the investment, the real property will be leased to individual tenants. It may also be leased to a local government partner for an average period of 25 to 30 years.

Structure of shares after the investment by the fund

The fund’s participation cannot exceed 50% of the value of the company’s shares.

Housing Sector Development Fund in short:

Type of financing:

Apartment for rent

Availability date:

Without a time limit

Amount of support:

Non-financial support

Intended beneficiaries:

Private persons

Territorial scope:


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The following entities may become Investment Partners:

  • local government,

  • social housing societies,

  • entities within public-private partnership,

  • Treasury-owned companies,

  • private entities.

Management of the fund
Record of Investment Funds

RFI 1289

Abbreviated name of the fund


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