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Atal makes hay while the sun shines

Eurobuild CEE 16 January 2020
Atal makes hay while the sun shines
Atal is planning to build an estate in Dresden

POLAND Atal signed a record number of contracts on 3,196 apartments last year 32 pct up on last year’s figure of 2,420 and almost 15 pct higher than in 2017 (2,787).

The highest number of contracts was signed in Warsaw (638), Kraków (583) and Łódź (505). The company is targeting similar sales for this year as in 2019. “Last year we started selling 2,794 apartments in 20 projects. In our opinion, sales should hold firm over the next few quarters because the demand for apartments remains high,” says Zbigniew Juroszek, the CEO of Atal. Between January and September 2019, 1,094 units were delivered and the developer recorded consolidated revenues of PLN 418.7 mln with a net profit for the shareholders of the parent company of PLN 68.5 mln. The company’s gross margin on sales over the period came to 27.3 pct while its net margin was 16.8 pct. Atal also acquired seven plots of land in Poznań, Łódź, Warsaw, the TriCity, Wrocław and Kraków for a total of around PLN 89.2 mln.

Atal expects to build around 163,800 sqm of useable space on the land, which is around PLN 544 per sqm

The total useable and residential area of these plots is around 163,800 sqm, so it equals PLN 544 per sqm of useable and residential area. Atal Development GmbH, which is jointly owned by Atal with a 49 pct stake and and Juroszek Investments has signed a conditional land purchase for a large residential estate in Dresden for EUR 44.25 mln.

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