PL

Atal makes hay while the sun shines

Residential
POLAND Atal signed a record number of contracts on 3,196 apartments last year 32 pct up on last year’s figure of 2,420 and almost 15 pct higher than in 2017 (2,787).

The highest number of contracts was signed in Warsaw (638), Kraków (583) and Łódź (505). The company is targeting similar sales for this year as in 2019. “Last year we started selling 2,794 apartments in 20 projects. In our opinion, sales should hold firm over the next few quarters because the demand for apartments remains high,” says Zbigniew Juroszek, the CEO of Atal. Between January and September 2019, 1,094 units were delivered and the developer recorded consolidated revenues of PLN 418.7 mln with a net profit for the shareholders of the parent company of PLN 68.5 mln. The company’s gross margin on sales over the period came to 27.3 pct while its net margin was 16.8 pct. Atal also acquired seven plots of land in Poznań, Łódź, Warsaw, the TriCity, Wrocław and Kraków for a total of around PLN 89.2 mln.

Atal expects to build around 163,800 sqm of useable space on the land, which is around PLN 544 per sqm

The total useable and residential area of these plots is around 163,800 sqm, so it equals PLN 544 per sqm of useable and residential area. Atal Development GmbH, which is jointly owned by Atal with a 49 pct stake and and Juroszek Investments has signed a conditional land purchase for a large residential estate in Dresden for EUR 44.25 mln.

Latest news

Investment & finance

POLAND Echo enjoys 17 pct rise in portfolio value over H1

schedule 24 September 2020
Opr./edited by NN

Polish developer Echo Investment generated a net profit of PLN 10.4 mln in Q2 2020, mainly due to the appreciation in the value of its projects under construction and the handover of 222 apartments to buyers.

Warehouse & industrial

POLAND Uni-Logistics chooses MLP Pruszków I for expansion

schedule 24 September 2020
Opr./edited by NN

Uni-Logistics has leased 2,900 sqm in MLP Pruszków I on Warsaw’s western outskirts.

Warehouse & industrial

ROMANIA SLS Cargo heads for P3 Bucharest A1

schedule 24 September 2020
Opr./edited by NN

SLS Cargo has leased 15,500 sqm of warehouse space in P3 Bucharest A1.

Office & mixed-use development

POLAND Santander and DHL stay five years longer in Atrium 2

schedule 23 September 2020
Nathan North
deputy editor

Hansainvest Real Assets has prolonged for five years two lease agreements totalling over 10,000 sqm – more than half the total leasable space – in its Atrium 2 office building in Warsaw.

Warehouse & industrial

POLAND Sportvida opts for Panattoni Park Sosnowiec I

schedule 23 September 2020
Opr./edited by NN

Sports equipment and leisure accessories manufacturer and distributor Sportvida has leased 1,150 sqm of warehouse and office space in Panattoni Park Sosnowiec I in Silesia.

Warehouse & industrial

POLAND Alfa Bond Kohlhauer concentrating on Kajetany

schedule 23 September 2020
Opr./edited by NN

Alfa Bond Kohlhauer has leased warehouse and office space along with land in a privately owned industrial complex in Kajetany, 25 km south-west of Warsaw city centre.

Warehouse & industrial

POLAND AFG opens third European training centre in Warsaw

schedule 23 September 2020
Opr./edited by NN

Avenger Flight Group has opened Poland’s first commercial aviation training centre in the 7R City Flex complex near Chopin Airport in Warsaw.

Warehouse & industrial

POLAND School supplies from Panattoni Park Łódź West

schedule 23 September 2020
Opr./edited by NN

Panattoni has started the development of Panattoni Park Łódź West.

Retail & leisure

POLAND Lidl into Homepark Targówek

schedule 22 September 2020
Opr./edited by NN

Lidl is to open a 2,017 sqm store in the Homepark Targówek retail park in Warsaw's Targówek district.

Retail & leisure

POLAND Galeria Andrychów 85 pct leased

schedule 22 September 2020
Opr./edited by NN

Galeria Andrychów in southern Poland – the second joint ‘power centre’ project by Acteeum and Equilis – is already 85 pct leased prior to its scheduled opening in H2 2021.

E-commerce

UKRAINE Wildberries now growing in Ukraine

schedule 22 September 2020
Opr./edited by NN

Russia’s largest online retailer Wildberries has entered the Ukrainian market.

Hotels

EUROPE Convivio finalises five-star portfolio buy

schedule 21 September 2020
Nathan North
deputy editor

Convivio Hotels has completed the EUR 573 mln acquisition of eight of the five-star hotels in the pan-European Dedica Anthology portfolio from Värde Partners.

Property and Facility Management

POLAND CPI managing Concept by itself

schedule 21 September 2020
Opr./edited by NN

CPI Property Group has taken over the management of Concept Tower in central Warsaw, following its recent acquisition of the property.

Warehouse & industrial

POLAND More packed in at Hillwood Marki

schedule 21 September 2020
Opr./edited by NN

Hurtownia Opakowań has increased the warehouse space it leases in Hillwood Marki to 4,500 sqm.

Investment & finance

CZECH REPUBLIC Portivo picks up Brno Mall

schedule 21 September 2020
Nathan North
deputy editor

Czech investment group Portiva and Micronix have bought the Central Kladno shopping centre in Brno from Crestyl for CZK 2 bln (app. EUR 74.8 mln).

Investment & finance

CZECH/ SLOVAKIA/ UK Vesa starts buying at Sainsbury’s

schedule 21 September 2020
Nathan North
deputy editor

Prague-based Vesa Equity Investment has announced the acquisition of a 3.05 pct share in British supermarket chain Sainsbury’s, becoming its fourth largest shareholder.

Investment & finance

POLAND Madison buys Chmielna 89 stake

schedule 18 September 2020
Nathan North
deputy editor

A fund managed by US investor Madison International Realty has bought a 65 pct stake in the newly completed Chmielna 89 office project in central Warsaw from Cavatina Holding.

Office & mixed-use development

POLAND West 4 Business Hub up and running

schedule 18 September 2020
Nathan North
deputy editor

Echo Investment has put into use the first stage of the West 4 Business Hub office complex in Wrocław.

Warehouse & industrial

POLAND Panattoni launches work on third Bydgoszcz park

schedule 17 September 2020
Opr./edited by NN

Construction work has begun on Panattoni Park Bydgoszcz III, the first tenant of which is to be electronic equipment servicing company Reconext.

Events

Poland Monika Żywiecka triumphs in the women’s singles!

schedule 17 September 2020
Eurobuild Conferences

The 15th Annual Eurobuild CEE Tennis Tournament endedin the best possible fashionfor Monika Żywiecka of Oakbridge Capital Advisors, with her victory in the women’s singles final.

Latest in Residential

schedule 08 September 2020

Cordia enters UK with Blackswan buy

Cordia has acquired UK residential developer Blackswan Property in its first investment in the UK market.

schedule 08 September 2020

RoseVille ready to bloom

Atenor has announced that it has received the final building permit for its RoseVille office development in Budapest District III.

schedule 01 September 2020

Resi4Rent opens first Warsaw location

The first Resi4Rent building in Browary Warszawskie (the Warsaw Brewery) mixed-use development in Warsaw has been issued with an occupancy permit.

schedule 01 September 2020

Echo hits the Reset button for the second time

Echo Investment has received a valid occupancy permit for the second stage of the Reset residential estate on ul. Taśmowa in Warsaw’s Służewiec district.

schedule 21 August 2020

Bonarka Living for families and students

Echo Investment has secured a building permit for its Bonarka Living residential estate in Kraków.

schedule 06 August 2020

Penta given go-ahead for Nuselský Pivovar

A planning permit has been issued for Penta Real Estate’s The Residence Nuselský Pivovar development in Prague’s Nusle district.

schedule 04 August 2020

Second sales for KRK underway

Sales have begun for the apartments in the second stage of the KRK estate, which is being developed by Echo Investment in Krakow’s Bronowice district, has started.

schedule 28 July 2020

Historic homes worth their weight in gold

Ghelamco has reported a y-o-y increase of 250 pct in sales in in Q2 2020 for its Foksal 13/15 luxury apartment project in central Warsaw.

schedule 15 July 2020

Resi4Rent taking off in Wrocław

Less than a year after the first buildings of the Resi4Rent Wrocław Rychtalska project came into use they are now 95 pct leased, while half of the company’s newly opened complex on ul. Mieszczańska is also rented out.

schedule 15 July 2020

Aurec opens sales for Włochy estate

Aurec Home has launched the sales process for the 163 apartments in the first stage of its Miasteczko Jutrzenki estate in Warsaw’s Włochy district.

schedule 13 July 2020

Echo Investment on course to sell 1,600 homes in 2020

Echo Investment sold 653 apartments in H1 2020, beating its figures for the same period last year.

schedule 03 July 2020

Cordia cashes in EUR 38 mln from Polnord takeover

Cordia is set to make a profit of EUR 38.2 mln (app. PLN 170.4 mln or HUF 13.6 bln) from its acquisition this year of a 93 pct stake in Polish residential developer Polnord.

schedule 03 July 2020

Echo restores life to 19th century Wrocław palace

Echo Investment has completed the renovation of the historic palace within its Ogrody Graua residential development in Wrocław, which now contains eight luxury apartments for sale.

schedule 17 June 2020

FRI-EL Building builds Ateneo Timișoara

ROMANIA Italian investor FRI-EL Building is to invest EUR 80 mln in developing Ateneo Timișoara, which with 1,300 apartments is currently the biggest residential project under development in the western part of Romania.

schedule 15 June 2020

Aurec to build 800 apartments in Ursus

POLAND Aurec Home has completed the purchase of a 2.5 ha site on ul. Dyrekcyjna in Warsaw’s Ursus district, where the company is planning to build an estate with around 800 apartments, as well as commercial, food and service space.

schedule 08 June 2020

Many more PRS apartments in the pipeline

POLAND Two companies have recently announced their plans for investing on the PRS market.

schedule 08 June 2020

Foksal townhouses finally restored to former glory

Ghelamco has brought back into use two historic townhouses at ul. Foksal 13/15 in central Warsaw after extensive renovation and restoration work.

schedule 05 June 2020

Vantage comes to Łódź

Vantage Development has announced that it has bought land at auction on ul. Tuwima in Łódź, where it intends to develop around 240 rental apartments.

schedule 03 June 2020

Building permit for Up Site

ROMANIA Atenor has announced that it has been granted a building permit for its Up-Site residential project in Bucharest.

schedule 02 June 2020

Savills seeks PRS partner for Eiffage

POLAND Eiffage Immobilier Polska has appointed Savills to acquire an investment partner for the development of a 453-apartment build-to-rent project in Warsaw, which forms part of a secured development pipeline of over 2,300 such units in Poland’s five largest cities.

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