Record breaking resi-developers

In Q1 2016 the Robyg group sold 727 apartments in Warsaw and Gdańsk. Compared to the same period in 2015, this represented a growth of 36 pct. For the whole of 2016 the group is aiming to sell app. 2,600 apartments. This year the company expects to generate a consolidated operating profit of PLN 115 mln from the sales of app. 2,800 apartments.

In 2015 and 2016, the Robyg group purchased or signed preliminary purchase contracts for twelve plots in Warsaw and Gdańsk for a total sum in excess of PLN 230 mln: in Warsaw’s Bemowo district – 3 plots with a total area of over 7.8 ha, on which it will be possible to build app. 1,600 housing and commercial units; in Warsaw’s Ursus district – land with a combined area of app. 5.3 ha on which app. 1,000 apartments could be developed; in Gdańsk’s Morena district – app. 2 ha for app. 530 apartments; in Gdańsk’s Zaspa district –app. 1.5 ha where app. 280 apartments are planned; in Gdańsk’s Wrzeszcz district – four contracts for the purchase of plots with a total area of app. 3.5 ha, where app. 1,000 apartments could be built; in Warsaw’s Wilanów district – a 3.5 ha plot for app. 650 apartments; and in Warsaw’s Praga Południe district – app. 0.5 ha to build app. 180 apartments and a plot of over 1 ha where the developer is planning app. 260 apartments. Meanwhile, Dom Development sold 615 apartments in Q1 2016, which constitutes a y-o-y growth of 32 pct. From the beginning of 2016 to the end of March, Dom Development had handed over 256 apartments to buyers. Its Q1 financial results were mostly influenced by the handing over of apartments in: Rezydencja Mokotów (30), Żoliborz Artystyczny (49), Aleja Piastów (36) and Saska (32). “The legislation restricting the turnover of agricultural land, which is to come into force on April 30th, could have an impact on the growth in prices with regard to plots that are not covered by the restrictions and could result in hindering the acquisition of plots currently classified as agricultural land. But for Dom Development, thanks to our considerable land bank, as well as our knowledge and experience in real estate purchases, the changes do not constitute a significant barrier in terms of our business operations,” claims Jarosław Szanajca, the president of Dom Development. Meanwhile, Vantage Development found buyers for 250 apartments in Q1 2016. In the same period a year ago the company sold 93 apartments, thus the increase amounted to nearly 170 pct. During the course of 2016 the group is planning to put on sale over 1,100 apartments and expects to close the year with sales of over 700 units. At the end of Q1, the company had sold 534 apartments this year, but yet to be handed over. “Our flagship project Promenady Wrocławskie continues to enjoy the greatest interest,” said Edward Laufer, the president of Vantage Development. The developer holds a land bank on which over 2,100 apartments could be built with a useable and residential area of app. 106,000 sqm, as well as a leasable area of app. 75,400 sqm.

Polnord in the meantime sold a net amount of 276 apartments in Q1. For another 120 units in hotel project being carried out by the group in Warsaw’s Wilanów district obligation agreements were signed. The sales of the group mostly took place in Warsaw, the TriCity and Szczecin. “We have been consistently selling the apartments being constructed in our projects that are currently in progress. We are expecting to extend our offer soon. When we published the group’s strategy for 2016–2019 in March, the management board outlined its plans for subsequent projects. We are already implementing this programme and preparing for the launch of our next projects. The first to be launched will be the Chabrowe Wzgórze project in Kowale near Gdańsk, where we are planning to launch sales for the first two buildings,” revealed Dariusz Krawczyk, the president of Polnord. In 2016 Polnord is planning to launch 15 projects in Warsaw, the TriCity, Olsztyn, Szczecin and Wrocław, which will extend its offer by over 1,500 apartments and a combined area of almost 85,000 sqm.

Another developer, Archicom, which operates on Wrocław’s residential market, sold 215 apartments in Q1 2016 – 44 pct more than a year earlier. Sales for new projects from the developer with 340 apartments were launched in the last quarter. Thanks to this the developer’s sales offer has been extended by over 1,100 apartments. Archicom is planning to launch the sales for several hundred new apartments in a few locations in Wrocław in Q2. “We are entering Q2 2016 with the highest number of apartments on offer in Wrocław. This provides us with a solid basis for maintaining high sales in subsequent months. In this quarter we are planning to launch a few other projects that include a few hundred apartments,” announced Tomasz Sujak, a member of the board at Archicom.