Victoria Dom Holding signed an agreement thanks to which it will obtain debt capital of EUR 7 million from the Foreign Expansion Fund FIZ AN, managed by PFR TFI. The funds raised will be used to strengthen the development expansion on the German market, the company said.
“We are proud that our competences, possibilities and the scale of our development achievements have been appreciated. The long-term financing obtained from the Foreign Expansion Fund enables us to further dynamic growth of our operations on the German market. It is a very important development direction for us, which perfectly complements our operations on the Polish market. We consider the activity in Germany to be very promising. Due to customer preferences, larger turnkey apartments are most often bought there. It is possible to achieve higher margins on investments there than in our country “- said Vice-President Waldemar Wasiluk, quoted in the press release. .
Victoria Dom is currently managing nine projects on the German market, seven of which are being built in Berlin and two in Leipzig.
“In the near future, we will focus on development in these two markets. We are preparing further projects there, which we will soon introduce to our offer. In the future, we also plan to expand our expansion to other large agglomerations,” added Wasiluk. In his words, German projects are slightly smaller in terms of the number of flats offered than investments implemented in Poland, but similar in terms of value.
“We are glad that Fundusz Ekspansji Zagranicznej FIZ AN can support the capital development of Victoria Dom on the German market. This is another undertaking of FEZ that allows us to support Polish foreign direct investments. Implementation of the project with an experienced partner gives us the opportunity to participate in the promising multi-family housing market in Germany “- said Maciej Bałabanow, director of the fund management department.
Fund Ekspansji Zagranicznej FIZ AN, managed by PFR TFI S.A., co-invests with Polish companies by capital or provides debt financing in their foreign investment projects.
Victoria Dom has a leading position on the Warsaw market. From 2020, it also expands on the Krakow market. Additionally, Victoria Dom is expanding its operations in Germany, currently carrying out investments in Berlin and Leipzig.
Source: IBSnews and Victoria Dom Holding
Photo: Georg Schumann project, Leipzig, Germany
