News Article Develia Poland PRS residential
by Property Forum | Residential

Develia plans to deliver 600-800 apartments in the Private Rented Sector segment (PRS, institutional rental market) this year, the company said. The current land bank allows the company to build nearly 9,000 sqm premises.

Develia is expanding its activities in the PRS segment. At the end of last year, the company signed two letters of intent related to its involvement in this market segment and began negotiating the terms of sale of real estate in Warsaw and Wrocław. Moreover, the developer has selected several other investments that it offers to institutional investors as part of Package purchases. Projects in this area will be financed, among others, from the funds obtained from the sale of commercial assets. The company's goal for 2022 is to deliver 600-800 apartments to the PRS market, the company announced.

President Andrzej Oślizlo pointed out that in recent months we have been facing macroeconomic and geopolitical uncertainty, which has an impact on the development market.

"We can mainly expect changes in the demand structure - due to the influx of immigrants and rising interest rates, among others, apartments for rent will be more and more popular. We have a wide and diverse land bank, we carefully monitor the market and customer preferences, so we are prepared for various scenarios," said Oślizlo.

One of the priorities that followed Develia last year was to expand the land bank. The developer bought land for 4,700 new apartments. The current land bank allows the company to build nearly 9,000 units. In addition, Develia has established cooperation with Grupo Lar, which will include joint investments in Ursynów, Saska Kępa and Białołęka in Warsaw with a total of over 600 apartments, it was announced.

In 2021, Develia sold 1,921 units under development and preliminary contracts, compared to 1,361 units in 2020, which means an increase of over 40%. The largest sales were recorded by the developer in the following projects: Centralna Park and Słoneczne Miasteczko in Kraków, Osiedle Latarników in Gdańsk and Ceglana Park in Katowice. Last year, the company delivered 1,903 premises compared to 1,153 a year earlier, ie 65% more.