Strong second quarter for Ronson Development: dynamic growth of sales and numbers of units delivered to customers
In the second quarter of 2018 Ronson Development contracted to sell 232 units, which is 29% more than in the corresponding period last year. The number of units delivered to customers from the beginning of April to the end of June, which will be recognized in the profit and loss account for this period was 213, compared to 72 in the previous year.
“In the second quarter of this year, we achieved a much better sales performance than in the several previous quarters. In the last three months, we have contracted the sale of 232 units, or almost 30% more than last year. Grunwald2, our new project in Poznań launched in April proved to be a great success. We have already sold over 40 apartments there. Our current bestseller in Warsaw is Miasto Moje property development in Białołęka, where we found buyers for over 60 apartments in the second quarter alone. Therefore, we are planning to launch the third stage of this project soon. The City Link project in Wola also remains very popular; in the period from April to June we sold nearly 40 units. Good sales performance was also recorded in Wrocław: in the second quarter of the year, we sold a dozen or so units each in Vitalia and Miasto Marina projects,” said Andrzej Gutowski, Management Board Member and Director of Sales and Marketing at Ronson Development.
Since the beginning of the year, Ronson Development has found buyers for a total of 436 units, which is a result similar to the one achieved in the first half of 2017. This number includes 32 apartments sold in the prestigious Nova Królikarnia project in Warsaw’s Mokotów district, which was purchased by Ronson from Global City Holdings this year. In the second quarter alone, the Company sold 16 units in this development project.
At the end of June this year, Ronson Development’s sales offer included more than 880 units in four cities: Warsaw, Poznan, Wroclaw and Szczecin.
“The second quarter of this year was also very successful for us in terms of the number of apartments delivered to buyers. During this period, our customers received keys to 213 units. This is almost three times as many as in the corresponding period of 2017. Nearly 80 units were delivered in the fourth stage of the Espresso project in Wola, where the construction work was completed in February. In June we obtained the occupancy permit for the first stage of Miasto Moje property development project and by the end of the month we managed to deliver 60 units to the buyers. In the second quarter, we also delivered the first 24 units in the Nova Królikarnia project. These are mainly large apartments with a high average unit price, so the project will offer a significant contribution to the second quarter’s revenue”, said Rami Geris, Management Board Member and Chief Financial Officer of Ronson Development.
Over the first half of 2018, Ronson handed over keys to 517 units, compared to 371 units delivered to clients in the first six months of 2017.
Ronson Development – unit sales and deliveries
|Number of units||Q2 2018||Q2 2017||yoy change||Q1-Q2 2018||Q1-Q2 2017||yoy change|
1) Data for 2018 include the sale of 16 units in the second quarter and a total of 32 units in the first half of the year in the Nova Królikarnia project, which was added to Ronson Development’s portfolio in the beginning of April this year.