Budimex and Apricot apply to the Office of Competition and Consumer Protection for joint implementation of a residential project

Budimex SA („Budimex”) and Apricot Capital Group sp. z o.o. („Apricot”) jointly submitted an application to the Office of Competition and Consumer Protection for consent to establish a joint venture through which they intend to jointly implement a housing project in Poznań.

The project is to involve the financing and construction of a complex of residential buildings in Poznań, and then the sale of apartments to individual customers. The investment will concern approx. 420 apartments with parking spaces in the underground car park and storage rooms.

In the past, Budimex and Apricot have cooperated many times in the implementation of real estate investments: Budimex SA as the general contractor, and Apricot as the contracting authority. Investments such as „Żoliborz One” and „Madison Apartments” in the Żoliborz district and „Wólczyńskaah!” in the Bielany district were completed in Warsaw.

‎–‎ In the projects completed so far for the Apricot Group, Budimex has proven to be a reliable and solid business partner, both in terms of timeliness and quality of the work carried out. We are glad that we will be able to implement another project with Budimex, this time in a new formula – comments Jose Maria Martinez Loscos, Chairman of the Board of Apricot.

Budimex has extensive experience in the design and implementation of construction projects and the cash necessary to carry out large construction projects. Apricot, on the other hand, has extensive experience in the implementation of the development process, in particular in the implementation and supervision of the sales, customer service and marketing processes. Cooperation within the planned joint venture will allow for the optimization of operating costs and more effective use of the resources owned by both companies.

‎–‎ The positive history of cooperation with Apricot prompted us to undertake the investment in the joint venture mode. This will allow both partners to work more closely, benefit from each other’s experience and knowledge, and consequently will translate into profits for both parties – comments Artur Popko, President of the Management Board of Budimex SA.

Budimex SA is the largest construction company in Poland implementing infrastructural, cubature and industrial investments not only in Poland, but also in Central European countries. Over the past few years, Budimex has been systematically diversifying its operations, both by acquiring projects in specialized industries and on new markets, as well as by developing service activities and the segment of infrastructure generating electricity from renewable sources. Budimex shares have been listed on the Warsaw Stock Exchange since 1995.

Apricot Capital Group is a real estate development company based in Warsaw.  It focuses on investments in all key sectors of the real estate market, such as residential projects, office buildings and hotels. Apricot Capital Group’s primary motivation is to generate a positive and sustainable contribution to local, regional and national economic development through development and investment activities.