Prokom announces massive development at Wilanow

Prokom Investments is planning a massive $1.5 billion to $2 billion development on a site near the Wilanow Palace on the outskirts of Warsaw. The residential, recreational and retail complex will be built on a 170 hectare site at Miasteczko Wilanow. "The first construction work will begin in 2002 and should be completed after six to eight years," says Prokom Investments deputy president, Zbigniew Wojciech Okonski. The essential infrastructure, including roads and underground facilities, is likely to be built by construction company Energobudowa, which is owned by Prokom Investments. Partners are being sought to develop other facilities, with three Israel-based developers already signed up to build the residential complex. "This year we intend to sell 180 apartments from the complex," adds Okonski. (Puls Biznesu, p. 12) A.Z.