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Cordia moves into new markets

Opr./edited AZ 05 November 2019
Cordia moves into new markets
Work has just begun on Horzyont Praga in Warsaw

POLAND Cordia, Hungarian developer Futureal’s residential division, is planning projects in other Polish cities following completions in Warsaw and Kraków.

The company’s plans include two projects in the TriCity and it is also looking for plots in Wrocław and Poznań. Cordia entered the Polish market in 2014 since when it has since completed three projects in Kraków and one in Warsaw and is now developing another three projects in the two cities: Lotniczówka in Kraków and, in Warsaw, the second stage of Zielone Bemowo and the recently started Horyzont Praga development in Gocław district, which will add around 24,600 sqm to the city’s market.

“We want to start work in the TriCity at the beginning of next year. We have two projects under preparation. The first one will be built in Gdańsk’s Wrzeszcz district, and the other being in the Przylesie district of Sopot. These will have a total of 21,500 sqm. We don’t intend to stop developing in Warsaw and Kraków. We are planning two new projects in the capital city as well as three in Kraków,” reveals Michał Melaniuk, the managing director of residential projects in Cordia Poland.

In Wrocław and Poznań the company is also looking for well-connected plots and eventually wants to sell more than 1,000 apartments per year.

According to Michał Melaniuk, sustainable development is more important for Cordia than achieving such sales goals. “One possible plan was to increase sales by 45 pct this year, but we don’t make hasty decisions. We check out the possibilities, explore the market and then gradually increase the scale of operations,” he says.

Cordia has also announced the start of its first pilot project in Spain. The residential estate with 80 units is to be built on a 7 ha plot in Marbella with a view of the Mediterranean Sea. According to the company, this is a good time to invest in this kind of location.

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