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Aldesa Polska starts construction on its first project in Poland

Thursday, February 7, 2008

Aldesa Polska, a subsidiary of the Aldesa Group, dedicated to the development of real estate projects in Central and Eastern Europe, has started construction in Krakow on an office building called ?Diamond Plaza,? its first commercial project in Poland that it hopes to turn into one of the most emblematic and unique buildings in the city. Investment in this project hovers around 20 million euros.

Aldesa Polska started its phase of promoting the Diamond Plaza back in October of 2007, and in which it projects the completion of its construction for the third trimester of 2009. The company expects to have all of the building?s space rented out as the completion date nears, with tenants with long-term rents of up to five years minimum.

The office building is categorized as Class A, with a surface area of 10,000 square meters, divided into four floors for both office use and retail space. Furthermore, it has two floors of garage space that can accommodate up to 196 parking spaces, and a ?lunch bar? that can cater to up to 1,000 people that is expected to be working in the building, on top of the usual services that such a building of this category is expected to provide. The Diamond Plaza building has been designed by the prestigious Polish architectural firm DDJM, with the objective of combining functionality with its ergonomic interior space, providing it with the most up-to-date advances in architecture and with abundant natural light along with an elegant and attractive exterior design, combining stone, aluminum and glass to create a one-of-a-kind building in Krakow.

The building is being built in the Zablocie district, one of the most promising areas of the city since it is located near the historic center, which is in the midst of a redevelopment phase as a result of the government?s approved plan of rehabilitation and development of new office buildings and living space. The construction of the Diamond Plaza is, precisely, one of the first key elements in reviving this part of the city.

In choosing the location of its first project in Poland, Aldesa Polska has taken into account the country?s unique decentralized structure, in which various medium-sized city centers coexist, as in Krakow, where key elements such as a University population, combined with economic factors, in addition to a high urban potential, create attractive business opportunities beyond the country?s capital, Warsaw, which has taken up most of the country?s capital investment in the last tree years.

Aldesa Polska

Aldesa Polska aims to become an important real estate company in Poland, with five to ten projects it plans to carry out within the next three years. As such, it counts on a team in Krakow that looks for and analyzes investment opportunities. At the moment, the Aldesa Polska team is studying potential commercial properties in Krakow and in other Polish cities, as much for residential real estate as for offices, hotels, and logistical centers, while at the same time exploring other opportunities in the Bulgarian and Romanian markets.

Aldesa Group has five divisions: Construction & Concessions, Engineering & Installations, Energy, Services, and Real Estate, in which Aldesa Polska belongs.
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