Will the Polish housing sector consolidate

by   CIJ News iDesk III
2023-01-04   10:50
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Are residential developers considering a scenario in which they decide to consolidate with another entity? In what situation could companies begin to consider such a solution?

Angelika Kliś, Atal S.A. board member.
We are analyzing various scenarios and business solutions, but at the moment consolidation with another entity is only a theoretical consideration.

Andrzej Oślizło, chairman of the board, Develia S.A..
We are interested in increasing market share and profitable business growth, as we described in the strategy. The current period of slowdown will affect consolidation opportunities by companies with strong balance sheets and needed capital. In addition to organic growth, we will also look at such opportunities.

Boaz Haim, CEO of Ronson Development
The pandemic and the conflict in Ukraine have taught us that all scenarios are possible. At this point, however, we do not have and are not considering issues regarding a possible consolidation with another entity. We could consider such a solution only in the context of the quality of such a company's land bank.

Malgorzata Ostrowska, director of the Marketing and Sales Division at J.W. Construction Holding S.A.
If interest rates continue to rise, and with them the paralysis in the mortgage market, we do not rule out increasing activity in the rental units segment. We have apartments on offer at Pileckiego Street in Warsaw's Ursynów district, and at the same time we are preparing investments that we have not yet put on sale. We are not considering consolidation with other entities, even in the face of a freeze in demand from cash customers.

Marcin Michalec, CEO of Okam
We have no such plans. We have been present on the market for nearly 20 years, being one of the leaders in the residential and commercial real estate segment. We implement ambitious projects, operating in the largest Polish cities. All current investments are going as planned, and we have more challenges ahead of us, including a long-term project to revitalize a post-factory area in Warsaw's Żerań.

Wojciech Chotkowski, CEO of Aria Development
Long before the economic downturn began, we took care to diversify our business and now, as the Aria Group, we also conduct business unrelated to the development industry. We are open to new proposals, as long as they are based on partnership relations and provide benefits to both parties.

Zuzanna Należyta, commercial director at Eco Classic
We are not considering the possibility of consolidation with another entity.

Janusz Miller, sales and marketing director of Home Invest
At the present time we are only considering selling apartments to individual customers or to funds. We already have experience in this regard, as we sold the entire development with 236 apartments to a fund at the end of 2021.

Mariola Zak, director of sales and marketing at Aurec Home
We do not foresee consolidation with other players in the market. We have a stable financial situation, we carry out all investments with our own funds. That's why we can offer buyers the 10/90 financing system. We are handing over all investments within the agreed timeframe and are planning further projects. An intimate estate with a private forest will be built in Warsaw's Białołęka district.

Photo: RONSON - Viva Jagodno Wrocław
Source: dompress.pl