Balmoral Properties has a financing of Brewery Lubicz project in Cracow.
- We are pleased to announce that in January 2013 we entered into a PLN 70 m finance agreement with BRE Bank Hipoteczny to fund the first-phase of construction works on our mixed-use development in Krakow. Signing of the agreement was contingent on certain objectives relating to residential sales, commercial lettings and construction progress being achieved. We are pleased to say that the project was successful on all three fronts - we read in a developer's statment.
Recent changes in the real estate market as a result of the global financial crisis have caused some prospective buyers to question the security of investing at an early stage in residential developments. This financing agreement should provide strong assurance that the Browar Lubicz project is progressing well and that Balmoral Properties is thriving despite the economic uncertainty.
- We are pleased to announce that in January 2013 we entered into a PLN 70 m finance agreement with BRE Bank Hipoteczny to fund the first-phase of construction works on our mixed-use development in Krakow. Signing of the agreement was contingent on certain objectives relating to residential sales, commercial lettings and construction progress being achieved. We are pleased to say that the project was successful on all three fronts - we read in a developer's statment.
Recent changes in the real estate market as a result of the global financial crisis have caused some prospective buyers to question the security of investing at an early stage in residential developments. This financing agreement should provide strong assurance that the Browar Lubicz project is progressing well and that Balmoral Properties is thriving despite the economic uncertainty.
