Polnord intends to reach PLN 0.5 billion revenues

Real estate developer Polnord plans to reach approximately PLN 500 million revenues until 2019, selling at least 1,500 apartments per year, the company reports. Moreover, Polnord intends to pay out the dividends, starting from 2018. The company's strategy also includes an increase in profitability of the operations at a level no lower than 18 percent, based on the input of new retail development's sales; focusing on the investments in large agglomerations (Warsaw and Tri-City); and the reasonable reduction of the debt, consequently, reducing the maintenance costs for external debt. Polnord is a Polish redisential developer, based in Gdynia since 1977. Last year, company sold 1,320 apartments.