Warsaw Stock Exchange-listed developer Robyg has held a cornerstone laying ceremony on its Osiedle Królewskie residential estate in the capital’s Wilanów district. Construction on the project has been progressing since June.
Robyg has secured financing for the investment by selling 49 percent of Robyg Osiedle Królewskie, an SPV created for the development of the project, to NCRE Investment Limited.
Osiedle Królewskie in Warsaw's Wilanów district will comprise 700 housing units ranging from 30 sqm to 130 sqm
Courtesy of Robyg
Located on Al. Rzeczpospolitej, the estate will deliver 700 apartments, ranging from 30 sqm to 130 sqm, in six phases. The project was expanded by 90 units from the original 610, when Robyg purchased an additional 4,000 sqm of land adjacent to the plot where Osiedle Królewskie is being constructed.
Together with the additional 4,000 sqm, which Robyg bought in April for zł.3.5 million, the developer now has a total of four hectares of land on Al. Rzeczpospolitej in Wilanów, where the Osiedle Królewskie estate is being developed. Together the land is valued at zł.30 million.
The first phase of the development will deliver a total of 115 apartments, some 80 percent of which have already been contracted. The sales on the second phase of the investment has been launched recently. Osiedle Królewskie will comprise several four-storey buildings.
Osiedle Królewskie is the investor’s third project in Wilanów, after Nowa Rezydencja Królowej Marysieńki and Osiedle Zdrowa.
Robyg has also announced it signed a preliminary agreement for the purchase of an 11,000-sqm plot in Warsaw’s Wola district for zł.15 million. The developer wants to build a residential estate there comprising up to 300 housing units. Robyg hasn’t disclosed the exact location of the plot, as the transaction is still in its preliminary stages.
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