Warsaw Stock Exchange-listed residential developer Dom Development has signed a letter of intent regarding the acquisition of part of the Eurostyl capital group, which is active in the residential market in the Tri-city area. Dom Development has been granted the exclusive right to negotiate the acquisition, with the exclusive negotiation period expiring on June 30 this year. The final terms of the transaction are yet to be worked out by the two parties and will largely depend on the outcome of due diligence procedures. The aim of the transaction is to enter Tri-city through the acquisition of an entity that has an established position in the region and through continuing its development activity in the market, Dom Development has revealed. One of the largest residential developers in Poland, Dom Development is currently present in Warsaw and Wrocław, and sold 2,735 apartments last year. Developer Euro Styl is now selling apartments in a total of ten residential projects in Gdańsk and Gdynia.
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