Budimex.pl

Current report no 57 / 2018

Date: August 3, 2018 2:41 PM

Conclusion of a contract for the construction of a complex of residential multi-family buildings at ul. Ananasowa in Warsaw

The Management Board of Budimex SA announces that on 3 August 2018 a contract for the construction of a complex of residential multi-family buildings including an underground garage and auxiliary infrastructure – located in Warsaw at ul. Ananasowa (4th stage of Wiślany Mokotów housing estate) was signed by and between Budimex SA and Budimex Nieruchomości Sp. z o.o. (a wholly owned subsidiary of Budimex SA).

 

Pursuant to the contract the Ordering Party is responsible for obtaining a building permit no later than by 30 September 2018. Should the Ordering Party fail to obtain a building permit before the date, the Parties will negotiate further course of actions.

 

The order value is PLN 37,162,000.00 net.

 

This has been the fourth contract concluded between the companies since March 2018. The highest-value contract was the one signed on 23 May 2018 which concerned the construction of a complex of residential multi-family buildings with services, an underground garage and technical infrastructure plus development of a building plot together with internal roads at ul. Mangalia 2 in Warsaw (Mangalia Mokotów housing estate stage 2 at ul. Mangalia 2 in Warsaw).

 

Contract value: PLN 91,300,000.00 net

 

Works commencement date: 18 June 2018

 

Works completion date: 30 April 2020

 

Guarantee period:

 

- reinforced concrete structure, roof (covering), insulation of the overground and underground part – 10 years

- other works – 66 months

 

Advance payment: none

 

Terms of payment: 30 days from the delivery of a correct invoice to the Investor

 

Contractual penalties payable by the Employer – do not deviate from market standards

 

Maximum penalties for the Contractor – 10% of the Accepted Gross Contract Amount

 

The parties reserve the right to claim supplemental damages on general terms and conditions if the stipulated contractual penalty does not cover the amount of loss incurred.

 

The total value of contracts concluded by and between Budimex and Budimex Nieruchomości since March 2018 has exceeded the threshold of PLN 127,386 thousand.

 

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