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Polnord land sale to Wilanów city positively effects its Q3

2008-10-03 00:00
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2008-10-03 00:00
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Moreover, the company has given 10 hectares of land to the community for free where local roads are to be built. Wojciech Ciurzyński, Polnord's CEO added that the corporation still controls 17.5 hectares of land which will in the future be purchased by the city.

"We should sell to them within a year's time. There must be roads built in Miasteczko Wilanów. Currently one square meter is estimated at zł.900. In future transactions the price should be higher," added Ciurzyński.

As the transaction was struck on September 30, it will have a positive effect on the company's Q3 results. "The third quarter was very beneficial for us. For example, we have moved significantly with sales of office space in our projects in Russia," said Ciurzyński.

The CEO confirmed earlier announcements to see zł.200 million of profits from sales this year.

Source: Parkiet (A.K.)

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