BBJ.hu: Cordia aims to realize almost half of total sales in Poland
In addition to the stable Hungarian performance and its international expansion, property developer Cordia is planning to sell 745 apartments in Poland this year, which could be nearly half of the group’s combined sales target in all of its markets.
The company, which is also present in Romania, Spain, and the United Kingdom, has recently become a sole shareholder of the Polish developer Polnord.
“Our investments in Poland are a key pillar of Cordia’s international expansion process. In the first quarter of 2021 we have sold 140 apartments in the Polish market under Cordia and Polnord brand and we plan to sell 745 apartments this year, which could be nearly half of the Group’s sales in all of its markets. We plan to sell approximately 750-900 apartments per year, but with our plans for further land acquisitions, we believe that we can achieve sales of over a thousand homes per year in the future,” said Tibor Földi, chairman of the board of Cordia International. “This market is playing an increasingly important role in our business, alongside the strong Hungarian market, where we plan to hand over 1800 homes, sell 860 apartments and launch seven new residential developments this year.”
In Poland, Cordia has been active in Krakow, Warsaw, and the Tri-City (Sopot, Gdansk, and Gdynia), and plans to expand to other Polish cities. In the last couple of months, Cordia has launched three new projects in the country and with Polnord’s portfolio it is putting up for sale more than 650 apartments this year.
Earlier this month, the developer announced that it had started selling its first homes in the United Kingdom.