Budimex Nieruchomosci, the real estate unit of builder Budimex, will see a y/y drop in advance sales in 2016 to around 1,500 apartments. But it expects to spend nearly PLN 200 million on plots of land, with plans to launch 14 investments next year.
“Advance sales will be worse this year, but we are close to finalizing the purchase of several large plots of land. We should spend a little under PLN 200 million on them this year. That would allow us to launch 14 new projects next year, for which we are starting advance sales,” Budimex president Dariusz Blocher said at a press conference.
“This year our advance sales were a little lower q/q because the Czyżyny project finished. But I think that we could be in the vicinity of 1,500 apartments [for the entire year]. We’d like to have a little more, but it will be the best attainable figure,” he added.
Budimex is one of the largest construction groups operating in Poland. Since 1995, Budimex has been listed on the WSE.