On Friday, 11 April 2008, J.W. Construction Holding S.A. obtained a final permit to go ahead with the second stage of the Lewandów Park construction project. The residential complex of more than 1900 dwellings will be built in the Białołęka district of Warsaw.
The first stage of the project was launched in March 2008. The residential complex is located in the green area of the Białołęka district, at Głębocka Street. More than 600 dwellings in 15 three- or four-storey buildings will be delivered in the first stage of the project.
Construction work on the second stage of the project will commence as early as in May 2008. The Lewandów Park II Project involves the construction of nearly 1300 dwellings in 33 four-storey buildings with underground car parks. The car parks will be slightly elevated above the ground level, with high ground floor. All the dwellings, from one- to three-room apartments, will have balconies and recessed balconies. The residential complex will be gated.
Two attractive payment options are available: 10/90 and 20/80. Thus, if a client pays 10 per cent of the dwelling price on the agreement date, the balance is payable only at the time of picking the keys to the apartment. Depending on the financing arrangements applied, the prices range from PLN 6,500 to PLN 7,200 per sq m. The smallest one-room apartments are 29 sq m in area and the largest three-room apartments are 57.5 sq m in area.
The entire construction project, involving 1905 dwellings in total, is to be completed within 24 months of the commencement of construction work. J.W. Construction S.A., a construction company spun off from the Holding’s structure, is to be the general contractor.

***
J.W. Construction Holding S.A. is the largest Polish residential developer with a presence mainly in Warsaw but also in Łódź, Gdynia and abroad. The Company is the leader in the Warsaw residential market where it has been in development business since 1994. In addition to development projects, the Company also provides construction services, being the general contractor for the majority of its projects. J.W. Construction owns and operates the HOTEL 500 chain of five hotels: in Zegrze, Stryków, Tarnowo Podgórne, Cieszyn and Św. Lipka. On 4 June 2007, the Company was listed on the Warsaw Stock Exchange. In the year ended 31 December 2007, J.W. Construction made a net profit of PLN 148.4m on sales of PLN 782.7m.