News Article EPP joint venture Murapol Poland residential
by Property Forum | Residential

Murapol - one of the largest developers has started a cooperation with EPP - the largest shopping centre manager in the country. They plan to establish joint ventures. They have notified the UOKiK (Office of Competition and Consumer Protection) of their intention to concentrate.

Murapol is planning to establish four joint development companies with EPP, the UOKiK said in its notification of the intention to concentrate. The planned activities of the entrepreneurs are to be the purchase of land and the construction of residential buildings.

The flats will be built in Częstochowa, Kielce, Poznań and Tychy. The notified concentration consists of the establishment of four joint ventures by Murapol and EPP, the UOKiK states.

The companies are currently at the stage of agreeing on the details of cooperation and projects.

Murapol is a public company whose shares are publicly traded on the Warsaw Stock Exchange. Murapol is part of a group of companies ultimately controlled by Ares Management Corporation, based in Los Angeles, USA, which is an alternative investment management entity offering primary and secondary investment solutions to clients in asset classes including credit, private equity, real estate and infrastructure assets.

From inception to 31 December 2023, the developer has completed 83 multi-stage residential developments with 424 buildings with more than 28,500 residential units.

EPP, in turn, is part of a group ultimately controlled by Redefine Properties Limited, based in Guateng, South Africa and listed on the Johannesburg Stock Exchange. The Redefine Group is involved in real estate investment and operates mainly in South Africa and Poland.

EPP is the largest shopping centre manager in Poland in terms of GLA. The portfolio it manages comprises 35 projects (29 retail and six office complexes) with a total value of approximately €2.8 billion and a leasable area of more than one million square metres.