Von der Heyden Group has announced that construction works on its flagship AND² development in Poznań, Poland, are expected to resume in the coming weeks following progress on a €26.5 million settlement with general contractor PORR.
In a company announcement issued on 3rd November, Von der Heyden Group Finance plc confirmed that all settlement agreements have been executed, with €24.5 million already paid and the remaining €2 million due in December 2026.
The agreement also includes a waiver of €4.7 million in late-payment interest charges, which is expected to be recognised in the group's profit and loss for the 2026 financial year.
Construction activity had been significantly affected throughout 2025 and the first half of 2026 by prolonged negotiations concerning outstanding contractor liabilities, interest charges and the scope of remaining works.
The group has now finalised a contract with PORR for the project's final construction phase, covering mechanical and electrical installations, finishing works and other outstanding works.
Financing has also been secured through a €55.6 million senior banking facility provided by three banks and a mezzanine facility of PLN 85 million, equivalent to approximately €19.1 million.
According to the announcement, the project is fully funded, barring unexpected cost overruns, with completion targeted for the end of June 2028.
The building is set to be the highest one in Poznań with 26 above-ground levels, and 3 underground ones for parking.
Malta Stock Exchange-listed Von der Heyden Group is a private investment and real estate firm with completed investments exceeding €500 million.
Employing nearly 500 people, the group operates across several European markets, specialising in high-quality office developments and the ownership and management of hotel, commercial and residential properties. It has also recorded investments in the United States.
