Michał Melaniuk, Head of Residential Development Poland at Cordia and President of the Board at Polnord SA shared with Property Forum his insights on the current situation in the residential markets of Poland and Hungary.

Hungary-based developer Cordia completed the 54.5-metre-high Horyzont Praga in Warsaw, which is the highest-ever residential building of the company. Hungary's leading residential property developer plans to develop 3,500 homes in Poland, in addition to the nearly 900 homes currently under construction.

Mauricio Mesa Gomez, Country Manager of Cordia Romania and Spain and member of Cordia’s Board of Directors discussed the company’s development plans and the prospects of Romania’s residential market with Property Forum.

According to a report by McKinsey & Company, the digitalisation of products and processes is one of the new standards in the global construction sector. All indications are that the construction industry is also following in its footsteps. After the leaders from the office real estate sector, other leading companies on the Polish market, this time from the residential and logistics sector, are deciding on comprehensive digitisation of administrative processes at construction sites of their investments. Cordia Polska and 7R have signed long-term cooperation agreements with BauApp, a provider of a mobile application, tailored to the specific needs of companies operating in the CEE market.

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.

Argo Properties N.V., a Dutch company active in the German residential private rented sector, completed an initial public offering in which Cordia International participated as a part of its international expansion strategy.

Hungary-based residential developer Cordia International Zrt. continues its international expansion strategy. After acquiring UK developer Blackswan last year, the company has announced the acquisition of a new office space in the heart of the Jewellery Quarter, Birmingham, England, which will become Cordia Blackswan’s UK headquarter. The property developer is set to refurbish and move into a former branch of Lloyds bank. The historical building will not only be home to Cordia Blackswan, but it will also offer modern office and co-working spaces.

Hungarian residential developer Cordia plans to hand over a record number of homes this year in Hungary. Thanks to an expanded government family support scheme and the re-introduction of a 5% VAT rate on residential property, the company expects sustained strong demand and will therefore increase its offer by more than 800 new homes as part of several developments. Work is continuing uninterrupted while protective measures are observed, with full online customer service introduced last year.

Cordia Romania, part of Futureal Group, announced the sale of 20% of the apartments in the second phase of the Parcului20 project in Bucharest.

Top Polish developers believe that in 2021 the real estate market will normalize and the vaccine will help it shake off the pandemic effects. They discussed investment markets trends at the online edition of Property Investment Forum 2020, organised by Portfolio in partnership with Property Forum.