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Signing of final agreements to purchase properties for a new investment project in Wroclaw

2018-04-09
Dźwig

Fadesa Polnord Polska (FPP) has signed final agreements for the purchase of plots with a total area of 5,983 sqm, located in an attractive part of Wrocław, in Krzyki district.

Fadesa Polnord Polska (FPP) has signed final agreements for the purchase of plots with a total area of 5,983 sqm, located in an attractive part of Wrocław, in Krzyki district. The property will provide FPP with an opportunity for further development in Wrocław. FPP was established in 2005 and its shareholders include Polish Polnord (49% stake) and Spain’s Martinsa-Fadesa (51% stake).

In light of the continued strength of the real estate market and above all the high profit margins and the effective sales of earlier projects, Fadesa Polnord Polska has purchased additional properties to expand its portfolio in Wroclaw, securing a place for this experienced real estate developer, which is seeking new paths for rapid growth within the industry once its existing projects are completed. FPP intends to use the newly purchased plots to build 144 apartments, with a total floorspace of more than 8,200 sqm. Unit sales are set to start in 3Q, 2018.

- Based on our strategy, we are constantly analyzing market environment. FPP’s decision was guided both by positive micro- and macro-economic scenarios for the Polish real estate market and by the excellent relations which FPP has developed with the providers of financing for real estate projects - says Dariusz Krawczyk, the CEO of Polnord SA.

In Wrocław, FPP has build Osiedle Innova and Osiedle Moderno residential projects and is presently building Apartamenty Innova. One characteristic feature of these projects, common for all the housing complexes developed by FPP, is the high degree of attention to the finishing of minor details of common parts of the building, such as the parking lot or stairways. All of the above projects contain internal courtyards with playgrounds for children and green areas. The less visible parts of the complexes house spacious storage areas for waste recycling, fulfilling environmental protection requirements.

FPP is a property developer with an established place on the Polish residential real estate market. From the start of its operations until December 31, 2017, it has sold 3,061 units and delivered 2,813 units, focusing on premium and medium-level apartments. FPP’s highlights include successful, award winning projects such as Warsaw’s Ostoja Wilanów, as well as Osiedle Innova and Osiedle Moderno in Wrocław.

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