Bahrain investment bank Arcapita has joined forces with Spanish residential developer Layetana for a 1.1bn Zloty (£203m) residential development spree across Warsaw.

The joint venture will co-invest in the purchase of sites as well as fund the developments of schemes in the districts of Mokotow and Zoliborz. The developments will be aimed at Poland’s growing middle class.

The joint venture is the latest in a series of global partnerships for Arcapita that has seen the bank grow a portfolio valued at more than $7.5bn (£3.75bn).