There were 229 751 visitors last week*
* 30th January 2012 to 5th February 2012
The English Real Estate Portal for Poland
Deal Direct with Agents and Sellers on the Secondary Market
Deal Direct with Agents and Sellers on the Secondary Market
Friday, 10th February 2012
Home > Polish Property and Real Estate Articles > PLN 95bn to be spent on projects related to Euro 2012 in Poland
PLN 95bn to be spent on projects related to Euro 2012 in PolandArticle added on: 2009-02-18 |
|
The value of projects related to the preparations for the Euro 2012 Football Championship in Poland is currently estimated at almost PLN 95bn (€21bn), nearly twice as much as the value of the projects in Ukraine. The bulk of tenders concerning works related to the tournament will be announced and concluded in 2009. In 2010, the largest number of the projects will be underway, which explains why the years 2010-2011 will be significantly better for the Polish construction sector as compared to 2009.The aggregate value of construction investments in transport, sports, hotel and telecommunications infrastructure and facilities related to the organisation of Euro 2012 in Poland is estimated at almost PLN 95bn (€21bn), which is almost twice as much as the value of similar projects in Ukraine – this is one of the conclusions stated in the latest report from PMR, a market research company, which is entitled “Euro 2012 in Poland and Ukraine – Construction Investments”. More than half of the value of the projects will be represented by road-related works, while almost one-third will be projects related to rail transport.
In the opinion of large construction companies, dynamic development of infrastructure is the key to further development of the construction market in Poland. A survey conducted by PMR among 250 largest construction companies operating in Poland reveals that a steep 71% of the surveyed businesses hope to participate in projects related to the preparations for Euro 2012. However, construction firms are moderately optimistic about the possibility of attaining the scheduled investment plan for Euro 2012: just under 60% of the respondents expect that more than 50% of the plan will be attained, and 22% of them expect that over 75% of the plan will be delivered. “Organisation of Euro 2012 and the enormous amount of the EU funds are the best things that could happen to the Polish construction industry. The planned projects gain significance especially when seen in the context of outflows of private capital from the economy and a weakening condition of the developer segment. If just 80% of the projects planned for Euro 2012 are successfully completed, they will amount to PLN 75bn (€16.5bn), which is exactly the value of construction and assembly output generated by large construction companies in 2008. In the upcoming three years, projects related to Euro 2012 will come to the construction industry’s aid and they will provide a stimulus for the industry going forward,” says Bartlomiej Sosna, Construction Market Analyst at PMR and the author of the report. “The schedule of projects planned for Euro 2012 in Poland comprises over 300 tasks, but at least until mid-2009 the bulk of them will be in the preparation stage, which involves securing of permits, development of designs and selection of contractors to implement projects. However, the largest number of tenders relating to development of projects related to Euro 2012 will be announced and concluded in 2009 – in a high-case scenario, it could be up to 40% of all the projects. Beginning from 2010, most of the projects will be in progress, which is the reason why the years 2010-2011 are expected to be definitely better as compared to 2009, which, in particular, will be the case for large companies,” adds Bartlomiej Sosna. The year 2008 showed that not all of the planned projects would be ready for delivery in 2012 due to delays in the preparation stages. Currently transport-related projects raise the greatest concerns regarding timely completion. Yet, despite some delays, they have not been removed from the list of projects planned for Euro 2012, and they will be completed in the subsequent years. On the Ukrainian side, some of the railway- and airport-related projects can face problems because sufficient and reliable sources of funding still have not been identified for them. Due to the financial crisis, the future is bleaker for Ukrainian hotel projects, both those under construction and those in the planning stage, as many developers cancel or postpone hotel construction projects. Compared to Poland, Ukraine is more advanced in building its stadiums, which, by their very nature, are key construction projects related to Euro 2012. A stadium in Dnipropetrovsk was completed already in 2008. Arenas in Donetsk and Kharkiv will be ready in 2009, while those in Kiev, Odessa and Lviv are planned for 2010, though they are rather unlikely to be completed within the schedule. “In May 2009, UEFA will select cities to host the games in Poland and Ukraine. The decisions to be taken at that time will be of key importance to further implementation of projects in the two countries. We expect that part of the projects in the cities excluded from the organisation of the tournament may be suspended,” adds Bartlomiej Sosna. |
Published courtesy of PMR Publications
SEO by How To SEO |
Website created and maintained by
link2light design