Aktuální report č. 50 / 2014

Residential development project of Budimex Nieruchmości

The Management Board of Budimex SA (the company holding 100% of shares in Budimex Nieruchomości Sp. z. o.o.) announces that a decision has been made for Budimex Nieruchomości Sp. z. o.o. to start the development of 1,374 apartments within the "Nowe Czyżyny" project in Cracow, comprising the Avia housing estate and buildings at ul. Orlińskiego. The market value of the project comprising the development of 1,374 apartments as well as parking spaces in the buildings and on premises of the housing estate stands at approx. PLN 300 million net. The project financed mainly with own funds of Budimex Nieruchomości will be carried out in 2014-2016. Budimex SA shall be the general contractor of construction works. The land owned by Budimex Nieruchomości in Czyżyny in Cracow makes it possible to develop 3,500 apartments, of which 287 apartments have already been sold under the Avia project (of which are 164 developed and 123 under development).