Murapol investing in Berlin

Polish developer Murapol is expanding its residential developments in Germany. On Monday, the company issued a press release in which it stated that it will construct 120 apartments in the German capital. “In June of 2016, the group bought land worth PLN 7.1 million, on which will be completed a project consisting of nine buildings, with 120 housing units. Currently, the group is finalizing the regulation of administrative procedures and plans to start construction work early in Q2,” part of the press release read. The area covers a reported 5,400 square metres. The company plans to expand its developments in both Germany and in the UK in 2017. Last year, it purchased a significant amount of land near the Scottish city of Edinburgh and it’s set to build homes there.  “Both Berlin and Edinburgh are markets with enormous potentials for development activities. Scotland's capital is not only a developed academic center, but also an attractive labor market, offering some of the highest wages in the UK. This creates a market segment interested in apartments in small investments in prestigious locations. That's going to be our project at Ferry Road,” said Michał Sapota, company president, in the release. Overall in 2016, Murapol sold over 3,000 dwellings, an increase of about 27 percent, it said it a second press release on Monday. It attributed the sales increase to new investments in Katowice, Wrocław, Gdańsk, Kraków and Poznań,  and stated that it expects to increase sales by at least 20 percent in 2017. “Given the number of opened and prepared projects, we can confidently say that 2017 will be another year of record breaking results in our business,” added Sapota.