PL

Poland Ronson prepares for the market rebound

Residential
Ronson Development published its Q1-3 2022 financial report. Company’s total revenue amounted to PLN 199.4 mln, vs. PLN 349.4 mln in Q1-3 2021. The revenue decreased by PLN 150 mln, which is primarily explained by lower number of units delivered.

466 units were delivered to the customers during the nine months ended 30 September 2022, comparing to the 625 units delivered in the same period last year.

Gross margin during Q1-3 2022 amounted 24.5 pct and increased comparing to 18 pct in Q1-3 2021. The main projects affecting the gross margin are Ursus Centralny IIa with the margin of 24.2 pct, Ursus Centralny Ib with the margin of 27 pct and Nowe Warzymice II with the gross margin of 27.2 pct. During the Q1-3Q 2021 the main projects affecting the gross margin were Ursus Ia and Vitalia III with the margin of 18 pct and Viva Jagodno I with the margin of 25.1 pct. Operating profit came in at PLN 28 mln in Q1-3 2022 vs. PLN 41.7 mln in Q1-3 2021, net profit was PLN 12.1 mln in Q1-3 2022 vs. PLN 28.8 mln in Q1-3 2021.

Majority of the company’s revenues in Q1-3 2022 came from the projects: Ursus Centralny II a (38 pct), Ursus Centralny I b (22 pct), Nowe Warzymice II (10 pct) and Miasto Moje IV (9 pct). Contribution in gross profit from the same projects: Ursus Centralny II a (38 pct), Ursus Centralny I b (24 pct), Nowe Warzymice II (11 pct) and Miasto Moje IV (9 pct). In Q1-3 2022 Ronson sold 298 units. The main sales drivers in this period were Miasto Moje (81 units), Ursus Centralny (76 units), Viva Jagodno (56 units) and Nowe Warzymice (39 units).

The financial and sales results of Ronson Development reflect the current economic situation. High inflation increases in interest rates and, as a result, a slowdown in the mortgage loan market have made cash customers the most active group on the market. However, the reason for satisfaction is the margin level achieved, which was higher by 36 pct compared to the previous year. Our goal is now to prepare for the market rebound, which is why we are constantly expanding our land bank. In the reporting period, we bought 7 new plots of land in Warsaw, where over 2,000 apartments will be built.
Boaz Haim, CEO of Ronson Development

The very large, currently unsatisfied demand will return with a double force in the first half of 2024. We are now getting ready for this time to start projects with full power. In 2023, we will focus on securing financing after the pre-sale of new stages and new projects launched, improving cost efficiency, as well as all preparatory activities, such as obtaining building permits for all planned projects. 2023 will therefore be a time of hard work, but not towards expansion, but maintaining the market position.
Andrzej Gutowski, Vice President and Sales Director of Ronson Development

Latest news

Investment & finance

POLAND MLP raises PLN 183.5 mln in share offer

schedule 02 December 2022
Opr./edited by NN

Polish industrial developer MLP Group has raised PLN 183.5 mln in a public offering of 2,621,343 series F shares by way of a private placement on the Warsaw Stock Exchange directed exclusively to qualified investors and investors subscribing for shares worth no less than the equivalent of EUR 100,000. Based on an accelerated bookbuild process, the issue price of the shares was set at PLN 70.

Warehouse & industrial

POLAND Green light for 7R Wrocław West II

schedule 01 December 2022
Opr./edited by NN

Polish warehouse developer 7R has been granted a final building permit for its 7R Park Wrocław West II development in Kąty Wrocławskie, which will offer almost 44,000 sqm of logistics and production space.

Retail & leisure

POLAND LCP buys second retail park from Ghelamco

schedule 01 December 2022
Nathan North
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Ghelamco has sold the Plac Vogla retail park in Warsaw’s Wilanów district to LCP Properties for an undisclosed sum.

Residential

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schedule 01 December 2022
Opr./edited by ANZ

Slovak developer J&T Real Estate (JTRE) has topped out its Eurovea Tower skyscraper project, which forms part of its large-scale Eurovea 2 city-forming development in Bratislava. At 168m it is the tallest building in Slovakia.

Warehouse & industrial

Germany Garbe leases to car manufacturer

schedule 01 December 2022
Opr./edited by ANZ

A prominent German vehicle manufacturer will move into a property with a total area of around 18,500 sqm owned by Garbe in the 'Niedersachsenpark' in Lower Saxony. Garbe acquired the building together with two other halls a year ago as part of an asset deal from Engler Immobilien Gruppe. The vehicle car manufacturer wants to store components for the automotive process chain in the new property.

Residential

Czech Republic Residential market overheated in Prague

schedule 01 December 2022
Opr./edited by ANZ

Colliers has summed up this year’s activity in the Czech residential real estate market. According to their analysis, Czechs are oriented largely towards an ownership model. The main driver for price increases is a significant excess of demand over supply.

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CZECH REPUBLIC Penta secures loan for Metalica and Legatica

schedule 30 November 2022
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Office & mixed-use development

POLAND Signify signs up for Hi Piotrkowska

schedule 30 November 2022
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Lighting specialist Signify (formerly Philips Lighting) is to move its Łódź head office to the Hi Piotrkowska complex in the city centre, where it has leased 2,800 sqm.

Office & mixed-use development

CZECH REPUBLIC CTP starts work on Brno office building

schedule 30 November 2022
Nathan North
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CTP has started the construction work on Building I of the Vlněna office complex on the brownfield site of a former textile factory in its home city of Brno. The project will involve an investment of CZK 600 mln (app. EUR 25 mln).

Office & mixed-use development

Poland Rockwool bigger in Poznań

schedule 30 November 2022
Opr./edited by ANZ

Rockwool, a manufacturer of products for the construction sector, is expanding its headquarters in the Nowy Rynek D office building in Poznań, developed by Skanska. The additional 900 sqm of space will allow the company to recruit a further 70 employees.

Warehouse & industrial

Poland Panattoni grows in Mazovia

schedule 29 November 2022
Opr./edited by JC

Panattoni takes on another development for ESA Logistika in the Radzymin area. The operator is to take up 30,000 sqm from the beginning of 2023.

Property and Facility Management

CEE REGION Inclusion, not charity

schedule 29 November 2022
Opr./edited by ANZ

Colliers has joined forces with Hungarian-based accessibility certification company Access4you in the Czech Republic. The two companies will assist people with special needs and disabilities to integrate themselves better into daily business life regardless of the type of work environment.

Office & mixed-use development

Poland My Place for a drink?

schedule 29 November 2022
Opr./edited by ANZ

Polish alcoholic drinks distributor United Beverages is to relocate its Warsaw office to Moje Miejsce (My Place) in the city's Dolny Mokotów district, where from mid-2023 it will occupy almost 2,700 sqm.

Retail & leisure

Poland Mitiska and Karuzela open Kołobrzeg centre

schedule 29 November 2022
Opr./edited by ANZ

Mitiska REIM and Karuzela Holding have opened a new convenience shopping centre mall in Kołobrzeg on Poland's Baltic coast. The new centre contains 40 shops on an area of 19,800 sqm and offers parking for 1,000 vehicles.

Warehouse & industrial

Romania CTP expands Bucharest South

schedule 29 November 2022
Opr./edited by ANZ

CTP has announced that it is to expand CTPark Bucharest South by 60,000 sqm, bringing its total area up to almost 150,000 sqm.

Investment & finance

EUROPE Allianz moves into Polish and Finnish sheds

schedule 29 November 2022
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Munich-based Allianz Real Estate has entered into a forward-purchase agreement with German logistics provider DHL for a portfolio of five logistics facilities under construction in Poland, the Netherlands and Finland.

Warehouse & industrial

CZECH REPUBLIC UPS HQ changes hands

schedule 28 November 2022
Opr./edited by NN

UK investment group Verdion has sold the Czech headquarters and main logistics hub of US courier UPS in Tuchoměřice near Prague to Czech investment group Safichem for an undisclosed sum.

Warehouse & industrial

POLAND Flex fills out Panattoni Elbląg

schedule 28 November 2022
Opr./edited by NN

American-Singaporean electronics manufacturer Flex has leased 17,100 sqm of newly-completed warehouse space at Panattoni Park Elbląg in northern Poland.

Green projects

Poland Windy in Kostomłoty

schedule 28 November 2022
Opr./edited by ANZ

Bilfinger Tebodin has completed work on a 27 MW wind farm in Kostomłoty in the South-West of Poland. The investment was carried out by Polenergia, Poland's largest private energy group.

Investment & finance

HUNGARY Green Court Offices sold to French investor

schedule 28 November 2022
Nathan North
deputy editor

Groupama Gan REIM, on behalf of French investor SCPI Affinités Pierre, has acquired the Green Court Office complex in Budapest from Belgian developer Codic Hungary and its partners Picton Group and Pesti Házak for EUR 77.1 mln.

Latest in Residential

schedule 01 December 2022

Bratislava’s highest Christmas tree

Slovak developer J&T Real Estate (JTRE) has topped out its Eurovea Tower skyscraper project, which forms part of its large-scale Eurovea 2 city-forming development in Bratislava. At 168m it is the tallest building in Slovakia.

schedule 01 December 2022

Residential market overheated in Prague

Colliers has summed up this year’s activity in the Czech residential real estate market. According to their analysis, Czechs are oriented largely towards an ownership model. The main driver for price increases is a significant excess of demand over supply.

schedule 14 November 2022

YIT buys plots in 3 cities

Finnish developer YIT has acquired two plots in Kraków for residential projects, as well as land in Warsaw and Gdańsk – two markets where it is already present.

schedule 14 November 2022

Fort Polska to transform Szczecin station

Fort Polska has been chosen to design PFR Nieruchomości’s first residential estate in Szczecin, which will contain 800 apartments.

schedule 14 November 2022

Ronson prepares for the market rebound

Ronson Development published its Q1-3 2022 financial report. Company’s total revenue amounted to PLN 199.4 mln, vs. PLN 349.4 mln in Q1-3 2021. The revenue decreased by PLN 150 mln, which is primarily explained by lower number of units delivered.

schedule 10 November 2022

Cordia’s new housing projects in Budapest

Cordia, Hungary's leading residential property developer, is adding more than 500 homes to its supply in three developments. This autumn, the company puts up more than 500 apartments for sale in the Hungarian capital’s most popular green belt and city centre locations. The new buildings’ energy ratings will be AA, meaning that their energy consumption is extremely low.

schedule 17 October 2022

Revetas to turn Polish offices into PRS

Revetas Capital is to convert its office landbank portfolio of around 90,000 sqm gla of potential space in three Polish cities into residential projects, as it enters the private rental sector.

schedule 13 October 2022

Kajima and Griffin finish biggest dorm project

Kajima Student Housing and Griffin Capital Partners have completed the development of a 795-bed Student Depot dormitory in Kraków – the largest residential project in Poland since the partnership was formed in 2019.

schedule 19 September 2022

Unique Tower handover for Heimstaden

Marvipol has finalised the sale of its 138-apartment Unique Tower development in central Warsaw to Swedish residential rental investor Heimstaden.

schedule 12 September 2022

First Slovak skyscraper arrives

The construction of the Eurovea Tower residential building in Bratislava will reach the 44th floor this week and, at a height of more than 150m, will become Slovakia’s first skyscraper.

schedule 11 July 2022

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schedule 11 July 2022

Cordia gets Modena underway

The cornerstone has been laid for the revitalisation of the former Modena clothing factory in Poznań’s Jeżyce district, just west of the Old Town. A green housing estate is to be built on the site in the style of the traditional tenement houses in the neighbourhood.

schedule 02 June 2022

Dom Development launches Wrocław estate

Dom Development has opened the sales process for its Osobowicka 114 estate in Wrocław.

schedule 31 May 2022

Bouygues begins first project in Gdynia

Bouygues Immobilier has appointed Mota-Engil as the general contractor for its Żeromskiego 7 residential building in Gdynia.

schedule 30 May 2022

Acciona starts second stage of Blanco

Acciona has launched the sales process of the second stage of the Blanco residential estate in Pruszków, its first project outside of Warsaw.

schedule 25 April 2022

BPI announces plans for the year

Belgian developer BPI Real Estate Poland is preparing six new investment projects in Wrocław, Poznań, the TriCity and Warsaw with work to begin this year.

schedule 21 April 2022

Heimstaden buys more Warsaw homes

Swedish rental housing specialist Heimstaden Bostad is to acquire the 400-apartment Aurora project in Warsaw’s Włochy district from its developer Dantex.

schedule 12 April 2022

Capital Park seals Polski Hak purchase

The Capital Park Group signed a final purchase agreement for two plots with a total area of 1.3 ha on the Polski Hak (Polish hook) promontory in Gdańsk.

schedule 01 April 2022

TAG completes Robyg takeover

German residential developer TAG Immobilien has completed the 100 pct acquisition of its Polish counterpart Robyg from Bricks Acquisitions Limited for an estimated PLN 2.5 bln.

schedule 16 March 2022

Hines teams up with Kajima

International property investors Hines and Kajima have announced an agreement to jointly develop residential buildings for the institutional rental (PRS) market.

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