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Polnord triples the number of apartments booked as sold in 1Q 2018 financial results

2018-04-10
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According to data weighted by Polnord's stake in individual companies of the Polnord group, a total of 323 apartments will be recognized as sold in 1Q 2018 financial results, a three-fold increase compared to the same period last year, when Polnord signed final agreements transferring ownership titles with 108 clients.

According to data weighted by Polnord’s stake in individual companies of the Polnord group, a total of 323 apartments will be recognized as sold in 1Q 2018 financial results, a three-fold increase compared to the same period last year, when Polnord signed final agreements transferring ownership titles with 108 clients.

Net apartment sales according to data weighted by Polnord’s stake in its subsidiaries in 1Q 2018 totaled 298 vs. 335 units sold in the first three months of 2017.

- The number of units contracted has adjusted downwards a bit as a result of the completion of Mieszkanie dla Młodych (MdM) program, which made it easier for many buyers to accumulate the downpayment needed. However, apartments purchased with the use of MdM loans never represented a substantial number in Polnord group investments, Dariusz Krawczyk, the CEO of Polnord SA explained.

Polnord is well prepared for the greatest challenges for the real estate development industry in the coming months, such as access to attractive properties and the growing costs of contracting construction services. The company has one of the biggest landbanks on the market and at the same time continues to actively seek new, attractive properties in the biggest Polish urban areas.

We continue to strive towards the goal set in our strategy, which is to sell 1,500 apartments next year. Achieving that targets will be based on new investment projects, on which we are focusing on right now. Polnord, as before, intends to effectively use the boom on the residential market, says Dariusz Krawczyk, the CEO of Polnord SA.

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