Polnord buys land for new Warsaw project

Warsaw Stock Exchange-listed developer Polnord has signed preliminary agreements for the acquisition of two plots of land located near ul. Lazurowa in the Bemowo district of the Polish capital where it is planning a new residential project comprising approximately 16,800 sqm of usable space. The scheme will house 258 apartments. Polnord currently owns sites allowing for the development of housing investments comprising around 300,000 sqm of usable space, revealed management board president Dariusz Krawczyk. He added that the company wants to spend an average of PLN 10 million per quarter on the purchase of land on future projects with the developer being mainly focused on the Warsaw and Tri-city markets. This year, Polnord plans to put up for sale a total of 1,727 housing units in 13 schemes.

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