Archicom sees improved apartment sales in H1

Warsaw Stock Exchange-listed Archicom, one of the largest residential developers in Wrocław, sold 601 apartments in the first half of 2017, which marks an over 37 percent increase upon the same period last year. The company’s target sales goal for this year is 1,200 housing units, said management board president Dorota Jarodzka-Śródka. Archicom currently has a total of more than 1,500 apartments in ten projects across Wrocław on offer. The developer will add further units to its portfolio in the city in the coming months. The company also wants to expand to other major residential markets in Poland in the near future. Last month, Archicom signed a preliminary agreement for the purchase of 80 percent of shares in mLocum, a residential developer present in Warsaw, Kraków, Wrocław, Tri-city, Poznań and Łódź. The transaction is valued at PLN 87.6 million and is expected to be finalized in two phases, in Q3 2017 (51 percent of the shares, after the required regulatory approval has been granted by Poland’s competition watchdog UOKiK) and by the end of next year (a further 29 percent).