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Murapol expands its land bank

Opr./edited TC 05 February 2020
Murapol expands its land bank
In Kraków's Prądnik Biały district, Murapol is planning to build Parki Krakowa with 570 apartments

POLAND Murapol has finalised the purchase of two plots in Kraków and Warsaw, and has also signed a conditional purchase agreement for sites in Łódź.

The developer intends to build more than 1,100 apartments on the new plots.

In Kraków, Murapol has bought a plot for additional buildings in a project that is already being developed in Prądnik Biały district. The developer intends to build the Parki Krakowa estate with around 570 apartments in three buildings with underground car parks on the purchased land. A total of more than 800 underground and above-ground parking spaces are to be provided.

In Warsaw, Murapol has acquired the perpetual usufruct rights for land located in Praga-Południe district, where a building with almost 280 units is now to be constructed as well as around 120 underground and above-ground parking spaces.

The Łódź deal is a conditional agreement for the sale of real estate in Widzew district, which should be finalised as long as the city does not exercise its first purchase rights. On this plot Murapol intends to develop two buildings with 260 apartments as well as underground and ground-level parking spaces for a total of 262 vehicles.

“In line with our business model, we will complete the purchase of the site only after being awarded the building permit for the project designed for it and obtaining all the required decisions and arrangements prior to obtaining such a permit, subject to the factual and legal conditions for each plot. This approach allows us to carry out projects according to set parameters and thus achieve our expected margins,” explains Nikodem Iskra, the CEO of Murapol. “The purchase of these plots in Warsaw, Kraków and Łódź was also carried out according to this model, which means that we will soon be able to start construction on them,” adds Nikodem Iskra.

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