Ronson Development expands its land bank in Warsaw

Ronson Development signed an agreement for the purchase of a plot of land in Warsaw’s Wilanów district, where it intends to build nearly 160 apartments. The project will be carried out as a joint venture in which Ronson will hold a 50% stake.

“The purchased plot of land is located at ul. Syta in the Zawady district, a green neighborhood in Wilanów. The plot already has a construction permit and our project partner has launched construction works and pre-sales of apartments. Together we plan to erect a cosy, modern estate with nearly 160 apartments and underground parking space. The total useable area of the estate will amount to some 8,700 sqm. The location of the investment is one of few in Warsaw which offers its inhabitants direct access to green areas and is so well connected with the city center,” said Nir Netzer, CEO of Ronson Development.

The price of the plot of land was set at PLN 15 million net. The contract with the general contractor has already been signed and amounts to PLN 39.4 million net.

“The investment at ul. Syta will be our first project in Wilanów and will be a perfect addition to our other investments in Warsaw – in Wola, Mokotów, Białołęka and Ursus,” Nir Netzer pointed out.

Ronson Development’s current land bank in the Warsaw agglomeration allows for the construction of some 3,500 units with a total usable area of 205,000 sqm (not counting ongoing and completed projects).