Ronson has a preliminary land purchase agreement in Warsaw for PLN 45.44 million net

by   CIJ News iDesk III
2021-10-19   09:33
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A subsidiary Ronson Development SE has concluded a preliminary agreement for the purchase of real estate in Warsaw, Bemowo district, with a total area of ​​approximately 1 ha, for PLN 45.44 million net, Ronson reported.

According to the issuer's preliminary assessment, it will be possible to implement development projects with a total area of ​​approximately 14,200 sqm of usable space on the real estate, accounted Ronson..

The most important conditions precedent are as follows: carrying out the due diligence process with a satisfactory result (the condition is reserved only for the part of the property on which one of the projects will be implemented), completing the process of acquiring some plots of land included in the property by the seller and obtaining new zoning decisions in for projects that can be implemented on real estate.

The conclusion of the promised contract (or promised contracts) should take place no later than October 15, 2024, it was also announced.

Ronson is a real estate development company listed on the Warsaw Stock Exchange since 2007. In 2020, it sold 918 units and handed over 966 units. Its consolidated revenues amounted to PLN 401 million in 2020.
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Source: Ronson and ISBnews