Cavatina Holding is focusing this year on the development of residential projects in cities such as Łódź, Katowice, Wrocław and Warsaw, so as to have even more than 2.5 thousand flats on sale, and will continue to commercialise and manage its office portfolio to increase its value, the company said. It intends to gradually roll out its residential offer to more Polish cities.
In 2023. Cavatina Holding successfully continued the construction and commercialisation of high-end office space, while expanding its activities with residential projects – the Group started the development and pre-sales of three projects. The Group ended last year with a portfolio of completed projects with a total area of more than 300,000 sqm GLA, including nearly 150,000 sqm GLA sold, leased nearly 40,000 sqm under new leases, and started the construction of a residential portfolio with more than 650 units on sale in the projects WIMA Widzewska Manufaktura buildings B and C in Łódź and Belg in Katowice. In 2024, Cavatina is focusing on the dynamic development of residential projects in cities such as Łódź, Katowice, Wrocław and Warsaw, so that up to more than 2,500 units are on sale, and will continue the commercialisation and management of the office portfolio to increase its value, the company announced.
Cavatina Holding announced yesterday that the Group’s new strategic objective is to grow dynamically on the market for the construction of flats for sale to direct buyers and thus become one of the leading residential developers in Poland.
“The market situation is definitely conducive to increasing activity in residential projects, so we are planning further investments in this area and a strong focus on developing this segment within our group. First of all, we are focusing on the development of projects based on the existing land bank, whose potential, taking into account the possibility of converting selected commercial projects into residential ones, we estimate at the level of over 2,500 flats. Thinking ahead, we are also looking for more land for residential projects. At the same time, using the know-how we have acquired, we want to actively manage a portfolio of commercial properties generating rental income in order to increase its value,” said CEO Rafal Malarz..
“The residential segment will dynamically increase its share in Cavatina Holding’s activities. As a group with all the necessary competences and designers, engineers and experts experienced in the residential market inside, we can flexibly and efficiently develop our portfolio to become one of the leaders within this segment as well. We will gradually go out to more Polish cities with our residential offer,” added the CEO.
Last year, Cavatina Holding delivered buildings B and D at Ocean Office Park in Krakow, Cavatina Hall B in Bielsko-Biała and WIMA Widzew Manufaktura D in Łódź.
“In 2023, we delivered office buildings with a total area of 40,000 m2 GLA. And on the other hand, we have also signed leases and pre-leases for almost 40 thousand m2 of offices. We intend to maintain the Group’s project portfolio and feed the results with growing rental income,” Vice President Daniel Draga concluded.
Source: Cavatina and ISBnews
Photo: Quorum, Sikorskiego Street, Wroclaw – Cavatina
