J.W. Construction has signed with VIS Investments Company the preliminary agreement concerning acquisition of the right to perpetual use of 8-hectares parcel at Kasprzaka Street, including the ownership of the buildings belonging to the property. The agreement was concluded under the condition that the master plan at least as favorable as conditions mentioned in the letter attached to the agreement, will enter into force not later than 31 December 2011.
The contract is worth about 174 million zloties. J.W. Construction plans to cover the largest amount of the costs by issuing debentures to the owner of the land on the Kasprzaka Street.