After acquiring a nearly 93-percent stake in Polnord, Cordia has launched work on a new residential project in Gdańsk. The company started presales of more than 200 homes going up in its first project in Gdansk. Hungary’s leading residential developer is also active in Poznań, where it is preparing its largest-ever Polish residential investment with a large-scale urban rehabilitation. “The Polish market is highly important to Cordia, because it already proved its stability during the crisis in 2008-2009, and it was still in a strong position when the crisis caused by the coronavirus pandemic reached the country. Newly built home sales in Poland grew by 14 percent year-on-year in the first quarter, the global downturn expected this year could hit the Polish economy less than other EU member states according to analysts, and both consumer and business confidence indices started to improve in May,” said Tibor Földi, CEO of Cordia Zrt.
