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Sjaelso is leaving

One of the biggest Scandinavian developers announced the decision to withdraw from the Polish market.

Sjaelso is constructing the Scandinavian House, a housing estate, which first stage has been completed successfully, and Porto 55 shopping centre in the very centre of Elbląg. Among the projects of this Danish company office properties, like Tower Terraces and Postępu 22 in Warsaw, can be found.

The process of ending the developer’s activity in Poland will be long. The president of Sjaelso, John Kristensen, assured that all the company’s agreements and obligations will be fulfilled and the final withdrawal will take place after the projects are completed and sold. The Scandinavian investor has already begun negotiations with partners who will complete the investments on their own or together with Sjaelso.

The withdrawal from the Polish market is  caused by the financial crisis, especially harmful for the Danish real estate market. From now on, Sjaelso will run its activity only on the local markets: in Denmark, Norway, Sweden and Finland.

Tags: Sjaelso
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