Hochtief signs euro 12 million contract for new Poznan services complex

Globis Poznan Sp. z o.o. has signed a euro 12 million contract with Hochtief Polska Sp. z o.o. for the construction of an office building in the centre of Poznan. The share of both companies in the investment capital equals 75% and 25% respectively. The construction is due to be completed at the beginning of 2003. The building, called Globis Poznan, will consist of offices as well as service and shopping outlets. Bank Zachodni WBK will also participate in the investment. The shareholders of Globis Poznan Sp z o.o. are Globe Trade Centre and Orbis. GTC has been operating in Poland since 1994. Its shareholders include Deutsche Bank, Bank Handlowy and European Bank for Reconstruction and Development (EBRD). GTC has previously invested in the construction of Mokotow Business Park and Galeria Mokotow in Warsaw. (Prawo i Gospodarka, p. 11; Puls Biznesu, p.11) A.Z.