17:10 1 August 2021
ROBYG invests in land bank
ROBYG recorded very good sales results for the first half of 2021. It has sold about 2,300 apartments, and this year it plans to contract over 4,000 apartments. ROBYG currently has one of the largest land banks in Poland. The land allows the construction of over 22,000 apartments, the company plans to further develop the land bank, as it would like to accelerate the pace of apartment sales.
"We allocate significant funds for new investments in the land – PLN 365 million in the first half of the year, and much more in the second half of the year and the following years," Eyal Keltsh, ROBYG Vice President of the Management Board, announced.
"Our shareholder from the Goldman Sachs Group is also involved in this strategy, for the third year in a row it does not collect dividends so that we have funds for investments. Moreover, the shareholder provided us with an additional PLN 100 million of financing, and in June we obtained PLN 150 million from the bond issue. So we have high liquidity and an excellent cash position, so we are looking to purchase more land for our future projects Our largest land bank is in Warsaw and Gdańsk, but of course, we are looking for further acquisitions in Poznań and Wrocław, where we are already operating. other potential cities, depending on the possibilities," Keltsh concluded.
