Develia has received unconditional approval from the Office of Competition and Consumer Protection (UOKiK) for the creation, together with unrelated entities, of a joint venture, Morska Park Development, to carry out a joint multi-phase investment with a maximum usable area of 90,000 sqm on real estate in Gdynia Leszczynki, the company said.
The Management Board of Develia […] has received information from the attorney representing the issuer that on 13 February 2024 the President of the Office of Competition and Consumer Protection (President of UOKIK) issued an unconditional consent to a concentration consisting of the establishment of a joint venture by the issuer together with entities unrelated to the issuer based on the company Morska Park Development S.A, in order to implement a joint multi-stage investment consisting in the construction and commercialisation of residential and commercial premises with a maximum usable area of 90,000.00 sqm on real estate in Gdynia Leszczynki with a total area of 38,600 sqm, it was announced.
Accordingly, the issuer announces the fulfilment of one of the conditions precedent of the joint investment as set out in the letter of intent dated 31 October 2023, the company stated.
Last year, the company reported that it had entered into a letter of intent with entities not related to the company (including investment funds managed by one investment fund company and entities related to the Semeko Group of Investment Companies) to carry out, through the project company Semeko Park (JV company) and its subsidiaries, a joint multi-phase investment in Gdynia Leszczynki. The company’s initial involvement in the investment was to amount to PLN 75 million.
Develia controls a group of purpose-built property development companies, carrying out residential and commercial investments in the largest cities in the country. The company has been listed on the WSE since 2007. In 2023, it sold 2,674 units.
Source: Develia and ISBnews
Photo: Aleje Praskie, Podskarbińska 32/34, Praga-Południe, Warszawa – Develia
