Building societies to invest zl.150mn in regional housing projects

Nine of Poland's building societies (TBSs) have announced that they will construct 23 residential apartment buildings in eight cities accross the Wielkapolska region by 2003 at a cost of zl.148 million, creating nearly 1,000 more rental apartments. The largest construction project equalling $68 million will take place in Poznan. Other major investment plans include apartment complexes in Chodziez, Rawicz and Konin. TBSs are non-profit organizations receiving 70% in financial backing from the Treasury, with the rest originating from private companies. According to TBS representatives, apartments will be offered at more affordable prices, with the cost of one square meter varying from zl.1.8 thousand to zl.2.5 thousand. (Puls Biznesu, p.11)