JW Construction to expand and launch projects in Lodz

JW Construction, a Warsaw real estate market leader belonging to Jozef Wojc iechowski, will soon begin expansion in the detached houses and flat segme nt. This year it will expand to build in Lodz. "In the first phase we will construct 300 flats, which should be completed after 18 months. Succeeding phases will see another 700 built," said Maciej Gnoinski from JW Constructi on. The estimated value of the investment is zl. 100 million and most of the finance will be raised from the company's own capital. JW Construction also plans entering the Gdansk conurbation and Krakow, and might debut on the Ce TO. In 2002 it completed about 2,000 flats, a drop of 300 over 2001, and af ter nine months of last year it recorded a net profit of zl. 20.2 million. (Puls Biznesu, p. 12) M.M.