Develia plans to sell 1,450-1,650 apartments, hand over 1,900-2,050 in 2023
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- 16 Feb 2023
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Develia plans to sell 1,450-1,650 apartments this year, which is comparable to last year. The company will also aim to hand over 1,900-2,050 units, maintaining the 2022 level, Develia reported. In line with its strategy, the company will also continue disinvestment of commercial real estate.
“Last year, despite a significant deterioration of market conditions, we achieved the most important of the assumed goals and we are satisfied with this result. We sold 1,636 apartments, in line with the updated target, and handed over the keys to 2,016 apartments to buyers. An important success of our team was also the finalization of the sale of the Sky Tower building and the preparation of a preliminary sale agreement for the Wola Retro office building and its signing at the beginning of this year. This year, we want to maintain sales at a similar level as in 2022, despite the slowdown on the market and the high base in the first quarter of 2022. This should allow Develia to further increase its share in the residential market. We also hope that this year, thanks to the possible improvement of the macroeconomic situation in the euro area, will bring a rebound in the institutional rental segment - in our opinion, its prospects in Poland remain very good. However, the stability of legislation will also have an impact on the development of this market,” said President Andrzej Oślizło, quoted in the release.
In 2023, the company plans to offer and start construction of 1,850 - 2,050 apartments. Develia's current land bank is nearly 8,000 sq. premises - this level will allow the company to carry out further projects.
The Management Board of Develia aims to sign the first contracts for the implementation of PRS projects and to sell 600-800 units to the funds. Develia's offer for the PRS market will be complemented by a rental management platform, which the company is developing together with The Heart, a venture building company.
In accordance with the strategy for 2021-2025, the Management Board of Develia is also taking further steps that will allow the company to reduce its involvement in the commercial segment. In January this year The developer has signed a preliminary sale agreement for the Wola Retro office building in Warsaw with a company belonging to an investment fund managed by Adventum Group. The sale price was set at EUR 69.8 million (approx. PLN 328.6 million), it was recalled.
“By the end of April, we plan to finalize the sale transaction of the Wola Retro office building in Warsaw. The funds obtained from its sale will be used to repay the loan related to the project in the amount of PLN 131.8 million and further development in the residential and PRS sectors, which offer higher returns on investment. With the extra cash, we will also be ready to take advantage of potential market opportunities. Our goal for 2023 is also to sign a preliminary sale agreement for the Arkady Wrocławskie building,” announced Vice President Paweł Ruszczak. Read More…
