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Acquisition of Polish Polnord generated a profit of €38 million for Cordia

02/07/2020

Acquisition of Polish Polnord generated a profit of €38 million for Cordia

02/07/2020

Cordia has recently acquired 93% of Warsaw listed Polish residential developer Polnord S.A. – the company may record around PLN 170.4 million (approx. HUF 13.6 billion or €38.2 million) of profits from the recent takeover. Polnord has several valuable lands suitable for residential projects, of which the most valuable are the plots allowing for developments in the very attractive and popular recently built and developed residential area in Warsaw in Wilanów District. The Wilanów Smart City is a large scale, urban regeneration mixed-use project launched by Polnord and will consist several residential and office buildings with a total area of more than 100,000 sqm.

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