Develia wants to build 300-400 units per year for institutional rental market
23:12
Develia intends to build at least 300-400 units per year for the institutional rental market (private rented sector, PRS) in the coming years, the company has announced. The company has joined the Rental Market Foundation.
Develia has already selected four investments that may offer apartments in the institutional rental formula.
“Younger generations place much less importance on owning an apartment than their parents. They prefer to remain mobile, are no longer so attached to single locations, and do not want to be tied down by taking out long-term mortgages. A wide group of young professionals from large cities is interested in renting modern, well finished and furnished premises in attractive locations. It is with them in mind that we want to enter the institutional rental market and offer an attractive product, matching their preferences and requirements. Our first objective is to execute repeatable PRS projects on the scale of 300-400 apartments per year”. - President Andrzej Oślizło said, quoted in the communiqué.
Using the knowledge and experience of research firm ThinkCo, Develia plans to develop a strategy for the company’s growth in the PRS segment in the coming months.
