Polbau moves into housing market

Opole-based Polbau will develop a luxury apartment complex on a 2-ha plot located on the corner of ul. Zielonogórska and ul. Kamińskiego in Opole. The project will include at least 10 two- or three-storey buildings with between 50 and 100 luxury apartments.

There will also be a service complex, including a fitness center, as well as underground parking. Preparations for the construction work will begin before the end of the year.

"We have an attractively located plot, professionals, huge technical background and a long-lasting experience in building apartments, mainly on the demanding German market. We want to prove ourselves as a developer, particularly now, when people talk so much about the necessity of giving a green light to residential developments," says Andrzej Duda, president of Polbau.

Currently, the company is a contractor of two huge projects, the LG factory in Biskupice Podgórne near Wrocław's Kobierzyce, and a nuclear reactor on the Finnish island of Olkiluoto. In Finland the company operates as a subcontractor of German Heitkamp. The works, worth some EUR 4.5 (zł.17.5) million, are scheduled for completion in 2010.

In the LG project, Polbau acts as a subcontractor of GS Engineering & Construction. In June 2006, Polbau launched construction works on an office building and a 38,000-sqm hall that is part of the LG complex. Jan Mistur, director of Polbau Polska, says that the project should prove lucrative as it is negotiating a possible cooperation with another investor that will provide sub-products for LG.