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Siewierz Jeziorna changing hands?

Tomasz Cudowski 06 June 2018

Tomasz Cudowski

Journalist

+48 22 356 25 26
tomasz.cudowski@eurobuildcee.com

Tomek graduated from the faculty of modern languages at the Adam Mickiewicz University in Poznań, where he also started his journalist career in the late 1980s. He has worked in the real estate press since 2005, covering the residential market for ‘Eurobuild CEE’ magazine as well as the new technologies and property management sectors. Sometimes he can be heard on Polish Radio 2, where he reviews the press on the morning programme. At other times he can be seen in the Bieszczady or Beskid Niski mountains, where he enjoys rambling with no fixed purpose or destination in mind.

Siewierz Jeziorna changing hands?
Murapol is one the developers working on the new district
POLAND Alta, a company based in the Siewierz Jeziorna new district on the outskirts of the Katowice conurbation and the owner of TUP Property, has announced its strategy for 2018–2022, which includes the sale of investment sites.

The main goals of the company’s strategy since 2013 had been the development of Siewierz Jeziorna and the sale of real estate assets owned by TUP Property. By the end of 2017, undeveloped real estate (intended for residential construction) with a total value of app. PLN 40 mln was developed and sold to developers.

The residential district has been built from scratch on land purchased in 2008 in Siewierz Jeziorna. Commercial development and recreational areas are also planned on app. 120 ha located in the northern part of the Katowice conurbation. A local spatial development plan was issued for the company, which has divided the land and sold a number of plots to other developers. Almost 100 families now live in Siewierz Jeziorna, and over 160 apartments and houses are under construction. The plots were sold for around PLN 16 mln while other sites have been sold in preliminary agreements for PLN 22 mln, with these transactions expected to be finalised over the next three years. The Siewierz Jeziorna project has been financed out of the company’s own resources, without banking support. The strategy for 2018–2022 involves the sale of more real estate by TUP Property as well as new areas of activity.

“Alta’s main activity will be co-investing in urban regeneration and planning projects, managing such projects, as well as investing in generally defined areas that inspire and fulfil the needs of urban dwellers. These are both technological (smart city) and social (sharing economy),” announced Robert Jacek Moritz, the CEO of Alta. The company is also planning a partial exit from the Siewierz Jeziorna project. “We want to pay funds raised from the sale of the project to shareholders, mainly through dividends and buy-backs,” added Robert Jacek Moritz.


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