Warsaw, 9 May 2012
FPP informs:
- In April 2012 FPP acquired a new plot in Wrocław (in the district called Krzyki).
- FPP shall carry out the investment by means of a special-purpose vehicle company under the name 'Osiedle-Innova z.o.o.'. 531 apartments shall be built within the new housing estate called Osiedle-Innova (www.osiedle-innova.com).
- The Osiedle-Innova investment shall be financed by Bank PEKAO S.A.
- The newly acquired plot where the Osiedle Innova housing estate shall be built is adjacent to another plot that is also owned by FPP where additional 600 units shall be built.
- Since the beginning of its business activity, i.e. 2005 FPP has sold 1490 units out of which 1265 units have been put into use since then.
- In 2011 FPP sold 422 units (the net value, i.e. including cancelled transactions) and put into use 397 units whilst the turnover of the company amounted to 209 million PLN.
FPP Marketing Department
FPP informs:
The purchase of a new plot in Wrocław
In April 2012 FADESA POLNORD POLSKA (hereinafter referred to as: 'FPP') signed an agreement to purchase a new building plot in Wrocław. The new plot with the total area of 6199 m² is located in the Wrocław district of Krzyki in Piękna street.
By means of a dependent company acting in Wrocław under the name of OSIEDLE-INNOVA z.o.o., FPP intends to carry out an investment called OSIEDLE-INNOVA (www.osiedle-innova.com). The investment shall include the construction of a housing estate with 531 residential units which shall be carried out in seven phases. The first phase has already been delivered and the developer - OSIEDLE-INNOVA assumes that the second phase will be completed in the third quarter of 2012. In the third phase, which is still under construction, approximately 60% of work has been completed whilst the construction works are scheduled to be finalised in the fourth quarter of 2012.
Additionally in March of this year OSIEDLE-INNOVA commenced construction works of the fourth and fifth phase of the housing estate which in total will constitute of 184 flats.
The OSIEDLE-INNOVA investment is financed by Bank PEKAO S.A.
FPP intends to build additional 600 units by means of the special purpose vehicle company on the plot that is adjacent to the newly purchased land which is also the property of the company.
FPP has been present on the Polish market since 2005. It currently carries out an investment in Warsaw called Ostoja Wilanów (www.ostoja-wilanow.com) which comprises 2.000 units and an investment in Wrocław called Osiedle-Innova. Since the beginning of its activity FPP has sold 1490 units out of which 1264 unit shave been put into use so far.
In 2011 FPP sold 422 units (in 2010 this number amounted to 411 units) and put into use 397 units (a year earlier this number amounted to 259 units). The turnover of the company in 2011 amounted to 209 million PLN, which is 20% more than in the previous year (which back then amounted to 172 million PLN).
FPP Marketing Department
