News Article Cordia investment Poland residential
by Property Forum | Residential

Hungarian-based company Cordia is planning to sell 745 apartments in the country in 2021, which could be nearly half of the Group’s combined sales target in all of its markets.

Cordia Group has been building residential complexes and apartment buildings in Hungary for 20 years and has been systematically strengthening its position in the Polish market since 2014. The company, which is also present in Romania, Spain and the United Kingdom, and has recently become a sole shareholder of the Polish developer Polnord, has ambitious plans for this and upcoming years in Poland.

"Our investments in Poland are a key pillar of Cordia's international expansion process. In the first quarter of 2021, we have sold 140 apartments in the Polish market under the Cordia and Polnord brands and we plan to sell 745 apartments this year, which could be nearly half of the Group’s sales in all of its markets. We plan to sell approx. 750-900 apartments per year, but with our plans for further land acquisitions, we believe that we can achieve sales of over a thousand homes per year in the future", said Tibor Földi, Chairman of the Board of Cordia International. "This market is playing an increasingly important role in our business, alongside the strong Hungarian market, where the we plan to hand over 1800 homes, sell 860 apartments and launch 7 new residential developments this year", he added.

In Poland, Cordia has been active in Kraków, Warsaw and the Tri-City (Sopot, Gdańsk and Gdynia), and plans to expand to other Polish cities. In the last couple of months, Cordia has launched three new projects in the country and with Polnord’s portfolio it is putting up for sale more than 650 apartments this year.

Earlier this month, the developer announced that it had started selling its first homes in the UK.