Rank Progress plans shopping malls sale

Rank Progress, a property investor, plans to sell several of its shopping centers and build and finalize other ones, ISBnews reported on Tuesday. The company will initiate the construction of the Aviator shopping mall in Mielec, south-eastern Poland, and open another one in Krosno. In H1 of 2014 Rank Progress recorded revenue of PLN 31.4 million from property sale, compared to PLN 20.3 million in H1 the year before. Bigger turnover resulted from increased GLA-sale (30,000 sqm) in the company’s schemes in Grudziądz and Chojnice. “Our revenue allows us to conduct our business without any obstacles and guarantees us financial stability,” said Jan Mroczek, Rank Progress’ CEO.