Forest Hill signs letter of intent with Murapol

TUP S.A. announced that a subsidiary from its capital group, Forest Hill sp. z o.o., has signed a letter of intent with Murapol S.A. for the sale of an investment area of 28 127 sq. meters located on Bażantów St.

The agreement is supposed to be signed within 30 days from signing of the letter of intent. The expected net value of the transaction amounts to PLN 8 million. According to the local spatial development plan, the area is designed for a housing estate.

Murapol S.A. is a developer of housing estates based in Bielsko-Biała, Poland. It was established in 2001. The firm has carried out 23 investment projects. At present, the company conducts 16 developments including one housing scheme in Katowice at 190 Armii Krajowej St. The estate called “Mała Skandynawia” comprises about 150 apartments.