Last contract for construction of Warsaw’s metro line 2 signed

The contract for construction of the shortest part of Warsaw’s metro line 2 was signed on Thursday, Under the contract, 2.5 km of tunnels, tunnel ventilation room, and two stations Ulrychów and Powstańców Śląskich will be built. The contract value is over PLN 959 million, for both stations and...

Construction companies facing more bankruptcies and restructuring

Although the demand for construction services will remain strong, the liquidity of construction companies will continue to deteriorate, and an increasing number of them will have problems with debt due to rising costs, said Coface chief economist in Central and Eastern Europe Grzegorz Sielewicz.

Housing permits, construction up in Q1 – GUS

In Q1, the number of dwellings on which construction has started grew by 8.5 percent y/y to 47,978, according to data released by the Central Statistics Office (GUS). Moreover, the number of dwellings completed increased by 10.6 percent y/y to 44,797.

Construction firms with increasing debt – report

Construction firms had a total of PLN 2.21 billion in August 2017, which continues to increase, according to a report prepared by the National Debt Registry (KDR). The majority of the debt is a few years old, mainly arising from unpaid loans and leasing deals.

Locked content Construction market to grow by 6% in 2017 – PMR

Poland’s construction market is expected to grow by 6 percent this year to PLN 185 billion, market PMR expert Bartek Sosna said. The growth will depend on the company size, as the biggest ones can enjoy up to 9 percent annual growth, according to Sosna. Along with the market, the prices will g...

Locked content Budimex lands two contracts worth over PLN 285 mln

Listed builder Budimex submitted a winning bid for road construction (second and third stages) in the city of Białystok, the company informed in a market filing. The total value of both agreements stands at PLN 285.9 million. The builder has to finish the works within 21 months from the signing of c...

Locked content Echo Investment announces its strategy

Real estate developer Echo Investment has announced its new strategy for the next few years, which assumes a focus on development activity in Poland and achieving the dominant position in the office, retail and residential sectors. “We have been transforming from an investment and development ...

Locked content mBank supports Atal with PLN 20 mln loan

Real estate developer Atal has obtained a loan of PLN 20 million from commercial lender mBank, the company informed in a statement. The developer intends to use the funds to finance its Atal Malta estate in Poznań, which will comprise about 130-140 apartments. The loan must be repaid by September 28...

Locked content Polish developer to lay off 300 workers

Polish construction company Trakcja PRKiI intends to lay off about 300 employees by June 2017, the developer announced in a market filing. The main reason for such a decision is “significant delays in announcing tenders on the infrastructure market, chiefly rail, in the 2014-2020 EU financial ...