Budimex announces plans for new development activity

Budimex Poznan Developer is set to begin construction of a zl. 50 million housing estate expected to encompass some 120 apartments and infrastructure in Komorniki. The estate would be built on 14 hectares owned by the company, with completion is slated before 2005. "We have all the resources ready except a building permit from the appropriate authorities," said Budimex Poznan Developer president Hanka Trochowska. In related news, constructor Budimex S.A. has announced it will enhance its real-estate-development activities by taking over Unibud Development, currently owned by Unibud Development. Budimex Development's new projects would include parking lots, residential buildings and municipal sanitation facilities. The company is vying for the upcoming tenders for an underground parking lot in downtown Warsaw and similar ventures in other major cities. It is likewise targeting lucrative tenders for highway construction, and thus has vowed to participate in all such tenders in the future. (Puls Biznesu, p.12, Rzeczpospolita, Nov. 4-5, p.B3).