The Spanish company wins an important public auction and is awarded 174,532 square metres in Warsaw to build 1,000 homes.
The construction Group also buys another 57,000 square metres for the construction and promotion of another 400 new homes.
With these operations, the company consolidates its position in the Polish market, where it already has almost 290,000 square metres.
Madrid, 22nd of November, 2006.- Grupo Sando is awarded 174,532 square metres in Warsaw at public auction for the value of €97 million. The new land will be for the construction and promotion of 1,000 homes, with 1,450 garage spaces. As well as housing, it is expected that 23,000 square metres will be dedicated to shops and businesses and 8,400 square metres to offices.
Furthermore, and with a purchase, Grupo Sando has acquired another 57,000 m2 in Warsaw for the construction and promotion of 400 new homes. In this way, with these two important operations, the construction Group reinforces its position in the Polish market, where it already has more than 290,000 square metres above grade for the construction of 2,600 homes in four areas: Bielany, Mokotow, Bermowo and Wilanow. The land recently awarded at public auction is also to be found in Mokotow.
The newly-awarded land was the old Warsaw bus station and it offers many possibilities for the building and later sale of homes in one of the best areas of the capital, since it is very well-communicated.
Furthermore, the land acquired by means of this purchase is also found in the area of Mokotow in the centre of Warsaw and it offers a wide variety of surfaces and finishes that meet the needs of each customer. As well as 400 homes, it will have 2,000 square metres for commercial property and a lot of green space. The development is to be found very close to a number of sporting facilities, schools, nurseries, cinemas, etc.
Sando will begin its first promotion of 386 homes in Poland in the district of Bermowo (Warsaw) in November.
The property division of Grupo Sando has invested almost 150 million euros in the purchase of land in Poland throughout 2006, which will allow it to build and sell 2,600 new homes. The overall investment, once all the developments are carried out, will reach €700 million.
Sando Inmobiliaria manages almost 8 million square metres of land, on which it will be able to develop more than 20,000 homes.
Grupo Sando is a construction company that carries out its activity throughout Spain, and which maintains continuous, sustainable growth. The expectation for this year is for a turnover of more than €700 million.
The Group is among the top 10 construction companies in the country and in the last few years has diversified its activity into areas like Property, Concessions, the Environment, Materials and Supplies, with an ever improving position in the market.
The company ended 2005 with a growth of 40% in its turnover compared with 2004, reaching total sales of €520 million. In the last four years, Grupo Sando has doubled its turnover.
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