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Robyg in four cities

Opr./edited TC 17 January 2020
Robyg in four cities
Last year Robyg obtained a building permit for the first stage of its Mój Ursus estate in Warsaw

POLAND Last year Robyg signed contracts for the sale of 2,570 apartments (net) in Warsaw, Gdańsk and Wrocław, exceeding its 2019 sales target of 2,300 units.

This will enable the developer to include around 2,850 units in its revenue figures for last year, which is also in line with its plans. The company’s sales potential for the next few quarters is high – it currently has around 1,600 units on offer and a land bank on which around 16,500 apartments could be built.

In 2019, Robyg invested more than PLN 330 mln in buying sites in four cities – Warsaw, Gdańsk, Wrocław and Poznań, where it could build around 335,000 sqm of useable and residential area. Last year the company had 5,900 apartments under construction. In H1 the company expanded its area of ​​operations to include Poznań, where it has bought a plot in the historic Ostrów Tumski area of the city.

“2019 confirmed the continuing demand for housing in Poland. Developers with an extensive range and a large number of various units for sale undoubtedly had an advantage. In 2019 the Robyg Group significantly increased the geographical scope of its operations, as a result of which we now operate in four key Polish cities. We expect the costs of materials and construction work to stabilise in 2020, which should help us keep our prices close to last year’s levels. The residential development market is becoming increasingly demanding – due to legal as well as financial regulations and requirements. Building up land banks will be one of the most important challenges for developers – the largest companies that are able to sign contracts for large areas of land will have an advantage. The Monetary Policy Council has recently announced that interest rates will remain unchanged, which suggests that the demand – including the investment demand – for new apartments will continue,” comments Eyal Keltsh, a deputy CEO of Robyg.

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