PHN may demolish Intraco building
Real estate group Polski Holding Nieruchomości (PHN) is considering demolish the Intraco office building in Warsaw and building a new one in its place, the company’s management board members said on Thursday
PHN is now preparing to commission a visualization of the Intraco City project, said CFO Włodzimierz Stasiak. The second stage of that project may involve bringing down the present tower in H1 2016, but economic calculations will be the key to deciding whether that will happen.
The company is carrying on with the restructuring of its portfolio, CEO Artur Lebiedziński said. Properties are being transferred to SPVs and some of the assets will be sold. Within the next 5-6 years, PHN plans to sell real estate worth some PLN 740 million.
