Polnord intends to reach revenues of PLN 0.5 billion

Real estate developer Polnord plans to reach approximately PLN 500 million in revenues by 2019, selling at least 1,500 apartments per year, the company reports. Moreover, Polnord intends to pay out 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 the Tri-City); and the reasonable reduction of debt, consequently, reducing maintenance costs for external debt. Polnord is a Polish residential developer, based in Gdynia, which was established in 1977. Last year, the company sold 1,320 apartments.