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ERBUD erects a residential building with kindergarten in Düsseldorf for € 15,5m

GWI GmbH, a subsidiary of Erbud S.A., entered into an agreement for the construction of a residential building and a kindergarten located in Düsseldorf. The contract value is EUR 15.5 million. PDI Düsseldorf Malmedyerstrasse West GmbH and PDI Düsseldorf Malmedyerstrasse Ost GmbH are the Investors. The project is scheduled to be completed till November 2016.

Under the contract Erbud will build 141 dwellings and a kindergarten with an area of 600 sqm situated in Heerdt District) in Düsseldorf. The contract value after conversion at the exchange rate available on the date on which the contract was concluded amounts to PLN 63.79m. GWI GmbH owns 51% of the equity share capital in each of the companies, which jointly act as Investor.