JW Projekt, a spin-off subsidiary of J.W. Construction Holding S.A., began independent operations at the beginning of May. Initially, the Company will be developing architectural designs for J.W. Construction Holding, and in the future it intends to obtain additional contracts from third parties as well.
“The commencement of independent operations by JW Projekt is the next step on the path to a streamlined organizational structure and increased transparency of the Group. The architectural company will from now on operate on its own account and we will be able to evaluate its effectiveness and, in time, its ability to effectively compete with other architectural design offices. We expect that JW Projekt will get its first contracts from third parties as early as in the second half of the year 2008.” explains Jerzy Zdrzałka, President of the Management Board of J.W. Construction Holding S.A.
Mr Robert Wójcik, former Head of the Architectural Design branch office and, before that, Head of the Design Department, who has been with JWCH for many years, has been appointed as the President of the Management Board of JW Projekt.
The share capital of JW Projekt was increased from PLN 52,000 to PLN 1,155,600 by a contribution in kind of the assets of the existing Architectural Design branch office of JWCH.

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J.W. Construction Holding S.A. is the largest Polish residential developer with a presence mainly in Warsaw but also in Łódź, Gdynia and internationally. The Company is the leader in the Warsaw residential market where it has been in the development business since 1994. In addition to development projects, the Company also provides construction services, being the chief 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 148.1m on sales of PLN 781.1m.