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The leader on the Polish market of concrete prefabricated products – Pekabex, informed about the submission of a proposal to start talks on strategic operational cooperation and the possibility of investing capital in shares of Polnord – a stock exchange housing developer.
Pekabex has been successfully implementing its multifamily investment Ja_Sielska in Poznań, where the construction of the first stage took about 8 months and the apartments were very popular among buyers. Construction of the second stage is currently underway. It is clear that the positive results and experience as well as strong and stable demand on the property development market encouraged Pekabex to seek options for a greater presence of the Group in this market. Polnord, on the other hand, has not had a good run recently (sale of plots, failure to issue bonds, PLN 52m net loss on continued operations after three quarters of 2019, high level of short-term debt). Therefore, it seems that the announced cooperation may turn out to be a great opportunity for Polnord to return to its former form.