Pia Piasecki sets $200 million business park in Krakow

In May 2001 Kielce-based publicly-traded construction company Pia Piasecki, together with several individual investors, will launch construction of the Krakow Business Park complex located in Zawierzow on the outskirts of the city. As reported by Artur Staniszewski of Investment Advisors and real estate agents from CB Richard Ellis, the A-class building is worth almost $15 million (zl. 60 million), and half of it is already fully let to Prokom capital group. Krakow Business Park is the first of a series of buildings that will be erected on the 14-hectare site. „lThe construction of the entire center has been divided into 11 stages. The consecutive buildings will be constructed depending on interest which, due to the proximity of the A4 motorway as well as Krakow’s Balice airport, may be high. The cost of the entire enterprise may reach $200 million (zl.800 million) says Staniszewski. He added that potential tenants include firms from technology and financial sectors. „We hope we’ll attract companies from the Silesian region area as well as from far more expensive Warsaw,” he says. (Puls Biznesu, p.5) A.Z.