Ronson strengthens its land bank in Warsaw
Ronson has concluded conditional agreements for the purchase of land in the Ursus district, which will allow for development of approximately 1,600 apartments. The total value of the transaction amounts to PLN 81.75 million net.
“Purchase of properties in Ursus significantly increases our land bank in Warsaw. This will be our first project in this dynamically developing and changing district and will be a perfect addition to our other investments carried out in Warsaw – in Wola, Mokotów and Białołęka districts. The acquired plots of land are covered by a local zoning plan, which will allow us to build a housing estate with a total of approximately 1,600 apartments there. We intend to launch the first stage of the project still in 2018,” said Rami Geris, member of Ronson’s management board and CFO.
The plots of land are located near Gierdziejewskiego Street. The total price for the land has been agreed at PLN 81.75 million net, with the majority of this amount already paid by Ronson last year, in accordance with preliminary agreements concluded in January 2017.
The condition precedent included in the conditional agreements is the non-execution by the President of Warsaw of the pre-emptive right vested with the Warsaw municipality in respect of the properties. The final agreements will be concluded following the lapse of the 30-day statutory deadline for the exercise of such right (or earlier if the President of Warsaw confirms the non-execution of such rights beforehand).
About Ronson Development
Ronson Development is an experienced, dynamically expanding real estate developer with residential investments in major Polish cities, mainly in Warsaw, but also in Poznań, Wrocław and Szczecin.
Since its foundation in 2000, Ronson has gained the trust of thousands of clients, making it one of the leading real estate developers in Poland. The company has been listed on the Warsaw Stock Exchange since 2007.
Ronson creates spaces for good and convenient living. The company’s portfolio currently includes units tailored to the needs of various client groups – including both apartments and popular flats.
Ronson Development is a member of the Polish Association of Real Estate Developers. Numerous awards and certificates confirm clients’ trust in the company. These include an award in the development services category of the Polish Construction Eagles 2014 competition as well as the Developer of the Year 2013 award from the Central Office for National Certification.
Ronson is also the recipient of numerous prestigious awards from stock market analysts and investors. In 2013, the company placed 1st in the “Investor Relations” category of the Listed Company of the Year ranking hosted by daily Puls Biznesu. In 2017, the Company’s website received the Issuer’s Golden Website award in a competition organized by the Polish Association of Listed Companies.