GTC and Polnord strike an agreement

2010-08-09

Having acquired approval of the Office of Competition and Consumer Protection (UOKiK) for establishing a company to build a shopping centre in Warsaw, Polnord and Globe Trade Centre executed a cooperation agreement to facilitate the project, as reported by PAP.
Polnord acquired from GTC 50% shares in Centrum Handlowe Wilanow. This company owns land on which a shopping centre with the same name will be constructed. It is assumed that the 7.5 ha land located in Warsaw's Wilanow district will house a retail centre with the size of around 60,000 m². The project's value is estimated at €250m, and it is due for completion in 2013.

Find more news and analyses in internet service Construction Poland Online and pdf newsletter Polish Construction Review.