White Stone

What White Stone does

White Stone Development Sp. z o.o. is a privately held Polish real estate developer headquartered in Warsaw, operating continuously since at least 2002. The company develops residential apartment buildings primarily in Warsaw's Mokotów and Wilanów districts, in Lesznowola near Warsaw, and in Szczecin, with notable projects including the Zielone Zamienie housing estate, Zora Wilanów, Ornament Szczecin, and Osiedle NOVO. Its commercial development is centered on Fort Mokotów, a revitalized 19th-century fort complex in Warsaw combining offices with lifestyle services, recreation, and creative industries, including the B'Fort event space and Gardens by Fort restaurant.

The company also operates MAAT4 (White Stone Construction), a wholly-owned subsidiary providing construction and technological re-engineering services with core competencies in data center construction, power engineering, integrated security systems, and ICT infrastructure. MAAT4 holds specialized licenses for projects requiring access to classified information and acts as main contractor for power systems installations. Beyond property development, White Stone maintains cultural initiatives including the Fort Institute of Photography and the Project Dream charity auction.

White Stone generates revenue through one-time sales of residential and commercial real estate to individual buyers and businesses, supplemented by professional construction services fees from MAAT4. The company markets directly through its corporate website, project-specific websites, an investor relations portal, and cultural marketing through art patronage. The operating model is sales-led with direct-to-buyer distribution at project sites in the Polish market.

Name

White Stone

Legal name

White Stone Development Sp. z o.o.

Website

https://white-stone.pl

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

White Stone Development Sp. z o.o. is a privately held Polish real estate developer that builds residential apartments and commercial properties in Warsaw, Szczecin, and surrounding areas, while operating the MAAT4 subsidiary for construction and technical infrastructure services.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Commercial and Institutional Building Construction (236220), New Multifamily Housing Construction (except For-Sale Builders) (236116)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Office & Corporate Building Construction (IMAFACAA)

Keywords

• Residential real estate development
• Commercial real estate development
• Historic property revitalization
• Construction services
• Data center construction

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Residential Real Estate Development: Development and sale of residential apartment buildings. White Stone has completed numerous residential projects across Warsaw (Mokotów, Wilanów) and Szczecin, including developments under the Ornament Szczecin brand and Zielone Zamienie housing estate.
2. Commercial Real Estate Development: Development of commercial properties including office buildings at Fort Mokotów in Warsaw, combining offices with lifestyle services, recreation, and creative industries.
3. Construction Services (MAAT4): Construction and technological re-engineering services provided under the MAAT4 brand, including data center construction, power systems, security systems, and ICT infrastructure.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

White Stone is a Polish real estate developer that designs, constructs, and sells residential apartment buildings and commercial properties across Warsaw and Szczecin. Its flagship Fort Mokotów project is a mixed-use revitalization of a historic 19th-century fort combining offices, lifestyle services, recreation, and creative industries. Through its MAAT4 subsidiary, the company also provides construction and technological re-engineering services including data center construction, power engineering, integrated security systems, and ICT infrastructure for both internal projects and external clients.

Product overview

White Stone Development is a Polish real estate developer operating primarily in Warsaw and other Polish cities. The company operates as a unified development platform with a construction services subsidiary (MAAT4/White Stone Construction). The portfolio includes: residential apartment complexes across Warsaw (Mokotów, Wilanów districts) and Szczecin; commercial properties centered around the Fort Mokotów flagship project; and lifestyle amenities including the B'Fort event space and Gardens by Fort restaurant. The company also maintains cultural initiatives through the Fort Institute of Photography. The MAAT4 subsidiary provides construction and technology re-engineering services including data centers, power engineering, and integrated security systems.

Differentiator

Problem solved

Functional benefit

Brands

• MAAT4: Construction and technological re-engineering services brand specializing in data centers, power engineering, integrated security systems, and ICT. Also handles projects requiring classified information access clearances.

Products and services

• Residential Apartments Multi-phase residential apartment buildings developed and sold to individual buyers across Warsaw (Mokotów, Wilanów) and Szczecin, including the large-scale Zielone Zamienie estate near Warsaw and the Zora Wilanów, Ornament Szczecin, and Osiedle NOVO developments.
• Fort Mokotów Commercial Complex Mixed-use commercial real estate development at the historic Fort Mokotów site in Warsaw combining offices with lifestyle services, recreation, and creative industries. Leased/sold to businesses seeking distinctive office environments.
• B'Fort Event Space A 360 sqm event venue within the Fort Mokotów complex featuring an openable glass facade allowing vehicles to enter, high windows providing daylight, and a spacious terrace, surrounded by 19th-century historic buildings.
• Gardens by Fort Restaurant Restaurant at Fort Mokotów serving international cuisine with original cocktails in an industrial interior with greenery and a spacious garden terrace.
• MAAT4 Construction and Technology Services Construction and technological re-engineering services operated under the MAAT4 brand (White Stone Construction), covering data center construction, power engineering, integrated security systems, and ICT infrastructure. The team holds required licenses for projects requiring access to classified information.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• MAAT4coreOthersMAAT4 is a Polish technology company operating under the White Stone Construction brand, providing construction and technological re-engineering services. Core competencies include data centers, power engineering, integrated security systems, and ICT infrastructure. MAAT4 has qualified technical staff with required licenses for executing complex projects including those requiring access to classified information.

Recent moves13 records

Expansion highlights4 records

Broad incumbents

• Skanska Residential Development Poland: Swedish-listed developer with a Warsaw residential portfolio and own construction arm, comparable in vertical integration model to White Stone's developer-plus-MAAT4 structure.
• Ghelamco Poland: Belgian-backed developer with large-scale office and mixed-use projects across Warsaw, including high-rise commercial developments that overlap with White Stone's Fort Mokotów office offering.
• HB Reavis Poland: Slovak-CEE office developer with Warsaw presence (e.g., Varso Tower), competing in the same Grade-A commercial office space as Fort Mokotów.

Direct peers

• Capital Park: Polish commercial real estate developer with mixed-use and heritage projects, similar to White Stone's Fort Mokotów in combining historic preservation with commercial real estate.
• Echo Investment: Polish mixed-use developer with residential and commercial portfolio; operates Browary Warszawskie and similar urban revitalization projects that echo White Stone's Fort Mokotów concept.
• Develia (formerly LC Corp): Polish residential developer with active projects in Warsaw and Wrocław, comparable in product type and direct-to-buyer sales model to White Stone.
• Dom Development: Largest listed residential developer in Warsaw, delivering apartments in Mokotów, Wilanów, and other premium Warsaw districts that directly overlap with White Stone's residential geographic footprint.
• Archicom: Wrocław-based Polish residential developer with master-planned estates, now part of Echo Investment, comparable in product category and buyer demographic to White Stone.
• Robyg: Warsaw-focused residential developer with comparable apartment estate rollouts and similar buyer segment to White Stone, now part of Develia group.

Emerging players

• Vantage Rent: Polish build-to-rent residential operator building rental housing estates in Warsaw, partially adjacent to White Stone's residential development activity but with a rental rather than for-sale model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/white-stone-poland

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about White Stone