Mayland to debut in residential sector

Retail space developer Mayland Real Estate and residential and commercial space developer Developres will soon launch construction work on their joint Bella Dolina housing project in Rzeszów. The companies have just received bank financing for the first phase of the scheme that is scheduled for comp...

Locked content New initiative to employ Ukrainians legally inaugurated

A new campaign aimed at ensuring fair and transparent employment for Ukrainian workers called “Partnership and employment” was inaugurated during the Baltic Business Forum in Świnoujście on April 20. Both Polish and Ukrainian employers’ organizations and employment agencies have joined the initiativ...

Shopping mall owners investing in extensions – JLL

A fourth of the more than 400 shopping centers in Poland have already been extended, a trend that results from the increasing maturity of the retail property market in the country and the growing expectations of buyers, according to a recent analysis by JLL. On average, the malls have grown by more ...

Locked content Lotos with PLN 632 mln EBITDA for Q1 2018

Fuel giant Grupa Lotos posted preliminary EBITDA for Q1 2018 at PLN 632 million and consolidated operational profit (EBIT) at PLN 450 million. The company’s consolidated EBITDA LIFO excluding one-off items is estimated at PLN 540 million, including PLN 330 million for production and retail and PLN 2...

Złota 44 sales proceeding apace

Investors Amstar and BBI Development have revealed that they have already sold 65 percent of the luxury apartments available in their iconic Złota 44 residential tower in downtown Warsaw. The building, which was designed by star architect Daniel Libeskind and completed last year, offers a total of 2...

Gdańsk with record-high transshipment in Q1 2018

The Gdańsk sea port recorded a 43.8 percent increase in transshipment in Q1 2018, compared to the corresponding period of last year. Between January and March 12.7 million metric tonnes of goods went through the ports, “a record high result,” the port’s president Łukasz Greinke stated. In March alon...

Locked content BZ WBK under Santander brand starting September

WSE-listed lender Bank Zachodni WBK plans to operate under the new name Santander Bank Polska from September 2018, the company stated in a market filing. Banco Santander holds a 69.34 percent stake in BZ WBK. BZ WBK is the third largest bank in Poland in terms of assets held in 2017….

Locked content Inea with PLN 900 mln financing for fiberoptic network

Broadband network provider Inea, owned by Macquarie European Infrastructure Fund 5 (MEIF5), has secured PLN 930 million financing from a consortium of eight financial institutions, the company stated. The funds are earmarked for the construction of fiberoptic network within the “Digital Poland” Oper...

Locked content ZE PAK 2017 net profit down 26.4% y/y

Fourth largest electricity producer in Poland ZE PAK recorded a drop of 26.4 percent y/y in net profit to PLN 184 million in 2017, the company stated. The group’s EBITDA decreased by 13.8 percent y/y to PLN 512 million, while consolidated revenue came in at PLN 2.44 billion (9.69 percent lower than ...