Ronson Development expands its land bank in Warsaw

Ronson Development purchased plots of land with an area of c.a. 5.9 thousand sqm located in Mokotów district in Warsaw, at Gąsocińska street. The property is covered by a local zoning plan allowing multi-family housing development. RONSON already holds a land bank enabling the company to build approx. 200 apartments in this area and plans to build approx. another 80 apartments on the purchased plot. The transaction allows the Company to develop a bigger and more efficient project and strengthen its position in this fast developing Mokotów area.

“As we announced, we are working hard not only on developing existing projects but also on expanding our land bank. In this new plot in Mokotów we are planning to build approx. 80 apartments, but what is more important: this purchase will enable us to develop a bigger and more efficient project there, as we are already holding plots in the same location. This is a natural decision to strengthen our position in this area where. The property is covered by a local zoning plan which makes the formal path shorter – we are planning to start the project in 2021. This part of Mokotów district has been developing very fast recently. It has been gaining popularity amongst clients who are searching for a location not distant form the city center, but on the other hand surrounded by greenery. We are planning to build approx. 280 apartments there altogether. We are happy, that soon this new project will be available for our clients – says Boaz Haim, CEO of Ronson Development.

The price of the plot was established at PLN 11,300,000 plus VAT (i.e. PLN 13,899,000 gross), but it may be reduced in the event of failure to obtain specific permits for demolition of buildings and road investments related to the property within the prescribed period.