19:46 11 March 2024
Develia signs joint venture for residential and commercial development in Gdynia
Develia has entered into a joint venture agreement with partners, including entities controlled by TFI Rockbridge, Derby Investments, and individual investors, to develop a multi-stage investment project in Gdynia Leszczynki. The project aims to create a residential complex with approximately 1,600 apartments and commercial premises, totaling up to 90,000 square meters. The estimated sales value of the apartments in the joint venture is over PLN 1 billion. Develia will hold a 50.01% stake in the joint venture through two increases in the company's share capital, contributing PLN 75 million. Construction of the first phase is scheduled to begin in 2024, with completion expected by 2031.
Develia views partnerships as a way to diversify risk and resources, leveraging its experience in the housing market to manage the project effectively.
Source: inwestycje.pl
