PI's new triumvirate

The American developer is planning to build three complexes in the cities of Płock, Poznań and Częstochowa. PI's president, Vincent Polimeni, told Puls Biznesu that the cost of the projects will reach EUR 130 (zł.493) million and all three centers will offer more than 100,000 sqm of space.

The company has signed a lease agreement with Rynex, which is owned by the city of Płock, to lease an area in the city center on which it is going to build a shopping center. The complex will have 90 stores on an area of 20,000 sqm. The investment will cost an estimated EUR 20 (zł.75.85) million.

The shopping mall is scheduled to open in autumn 2007 and in summer this year the company also expects to obtain permission to construct a shopping mall in Częstochowa. The investment cost will also reach EUR 20 million.

However, the biggest venture planned by the Polimeni Group is in Poznań, where it is going to build Galeria Hetman for EUR 90-100 (zł.341- 379) million. The planned space is 60,000 sqm. Some of the complex's attractions will include a climbing wall and an ice rink. The project is expected to be completed in two years' time.