Administrative factor remains biggest challenge for developers
22:40
Residential and office developer, Atal, after delivering 1,240 units in the first half of 2020, generated consolidated revenues of PLN 455.7 million. In this reporting period, the net result attributable to the shareholders of the parent company amounted to PLN 51.1 million.
"This year's construction schedule and the handover calendar assume the highest number of units' releases in Q3 and Q4. This means that in the last six months of this year it will be possible to recognize a significant number of flats, service and investment units in revenues – the potential for handover in the second half of 2020 is over It is worth adding, however, that the final result depends to a large extent on the actions of administrative bodies. Due to the epidemiological situation, the time needed to obtain all decisions has been extended, and the administrative factor remains the biggest challenge for companies in the real estate development industry," Zbigniew Juroszek, president of Atal, said.
Atal is expanding its product portfolio with new office projects. The first new facility – with an area of approx. 13,500 sqm of usable area – is being built in the southern part of Wrocław, at ul. Krakowska 35. Aleja Pokoju 81 is another office complex that is being built in Krakow's Czyżyny and will offer 8,400 sqm of modern office and service space. Both office buildings obtained the BREEAM Very Good certificate for Design Stage.
