PHN extends its reach

Maciej Jankiewicz, president of PHN: In November 2017, we published the results of our activities for the previous year and a half. Over this period we achieved our lowest vacancy rate in the six-year history of the PHN group, which came to 14.6 pct in October 2017 – a 43 pct decline on January 2016 (25.7 pct). We also optimised our administration, as a result of which the ratio of our administrative costs to investment assets came to 1.2 whereas in 2015 it was 1.6 – our goal is to reach a 0.7 ratio by 2023. The group has recently announced its plans to acquire construction company Doraco. What does PHN need a contractor for? We want to strengthen our construction capabilities due to the scale of the projects we have planned in the office and residential sectors as well as because of growing construction costs and difficulties with access to labour. First of all, our key commercial and residential projects, which we presented in the PHN group strategy for 2017-2023, alone