The report is addressed to two audiences: the World Bank team and the decision makers and technical experts at the city administration who define the future of land and asset management in Warsaw. The report starts (section two) from reviewing municipal property holdings and associated institutional arrangements. This section focuses primarily on land and financial aspects of asset management, due to the overall orientation of the report and its limited scope. Portfolios of built-up properties are considered only partly, mainly for indicating the grand magnitude of the total holdings. For the same reason, the institutional arrangements are analyzed only at the level that identify main issues, but not details. Section three reviews main achievements, challenges, and risks related to municipal land and asset management in Warsaw. Section four considers the experiences of Warsaw with public-private partnerships (PPPs) in the past and on city's plans. This section also includes a discussion of a PPP potential related to such transportation facilities as Park and Ride (P&R), illustrated by mini case studies of five P&R facilities funded and delivered by the city itself. Finally, section five presents a range of recommendations on what is needed for introducing a more strategic approach to asset management and outlines next steps.