Archicom enters Poland’s country-wide market

The Wrocław based property developer has acquired 51 per cent of mLocum shares for 55 million PLN, thereby becoming a player on the country-wide market. – For our company, it’s a beginning of a new and very important chapter in its over 30 years’ history – says Dorota Jarodzka-Śródka, President of Archicom. – We can make the company develop faster and increase the scale of its operation by making this leap. We want to ensure to our clients a diverse offer in all markets, so we plan to purchase more land in Wrocław and Cracow and replenish the mLocum land bank in Łódź, Poznań, and Tri-City - adds Jarodzka – Śródka. In her opinion, broadening the offering will have a positive impact on sales results as soon as this year, while the presence in new markets will be reflected in the increased value of the company. The company keeps growing On July 31, the Wrocław based property developer concluded the agreement relating to the acquisition of 52 per cent of mLocum shares. It has so far paid 32.9 million PLN, while the remaining 23 million will be settled by it by the end of 2018. Last year, Archicom sold 942 flats, which was 54% more than in the previous year. Currently, the company’s results keep getting better and better. In the first two-quarters of this year, it sold over 600 flats - 40 per cent more than in the corresponding period of 2016. Archicom is listed on the main floor of the Stock Exchange.   Source:  Archicom materials