News Article investment IPO Murapol Poland residential
by Property Forum | Investment

Polish residential developer Murapol has filed a prospectus with the Polish Financial Supervision Authority (KNF) in connection with the IPO being considered and the start of listing on the Warsaw Stock Exchange.

"Murapol, thanks to one of the best apartment sales results in Poland, ranks every year among the top residential developers in our country. Our geographically diversified investment map and unique business model ensure sustainable development and high profitability of implemented projects. A built land bank and our own project teams. and engineering enable Murapol to successfully implement its ambitious plans. I am convinced that in the coming years we will continue to strengthen our leading position in the Polish real estate development market. Over the last three years we have made fundamental changes to our financing structure, replacing previously fragmented sources of financing with a structured syndicated loan. also our financial reporting systems meet the highest market standards. Owners of the development industry, it is a natural step for a company with a scale of activity like ours, and it will also support its further dynamic development," said President Nikodem Iskra.

Murapol's residential offer is located in the broad and most absorbent segment of the residential real estate market, i.e. the popular (affordable) and popular premium (affordable premium). It is available practically throughout the country, because Murapol is active in 16 cities, such as Warsaw, Kraków, Wrocław, Tricity, the Silesian agglomeration, Poznań and Łódź, underlined.

In 2018-2020, Murapol sold a total of 8,606 units (based on developer and preliminary agreements) and handed over 8,639 units to customers. Just in 2020, it sold 2,720 apartments. Revenues from the sale of premises increased from PLN 603.1 million in 2018 to PLN 836.2 million in 2020, which means the average annual increase (CAGR) of 17.7%. In the same period, the gross margin on sales increased from PLN 139.1 million in 2018 to PLN 217.4 million in 2020 (CAGR at 25.0%).

Murapol has a large and attractive land bank that will drive its further development. As at the end of June 2021, it comprised land properties (owned / operated by the group or covered by conditional preliminary contracts), enabling the construction of approx. 19.4 thousand sqm. premises with a total usable area of ​​over 837 thousand. sqm. As at June 30, 2021, 7.3 thousand sqm was under construction. premises, and in designing 12.1 thousand. premises.

In the first half of 2021, Murapol made a strategic decision to enter the dynamically developing housing rental sector (PRS).

From the first quarter of 2020, the majority shareholder of Murapol is AEREF V PL Investment S.à r.l. - a company owned by funds managed by Ares Management Corporation.