FPP: 900 flats sold in Wrocław
It is a pleasure to inform you that we have sold 900 flats in Wrocław, out of which 689 have already been delivered. Since spring 2010 we have been developing a housing estate which is situated between the following streets: Nyska, Piękna and Jesionowa. The development is known under the name of "Osiedle Innova". It consists of nine buildings forming part of the Osielde Innova project and the Osiedle Moderno buidling. In its final shape, the housing estate will be enlarged by additional buildings forming part of the Apartamenty Innova investment (three of them are currently being built).
In April 2016 we started the development of the APARTAMENTY INNOVA II housing estate (building 6.3) in Wrocław. The new building will be 17 storey high and will feature 120 residential units (www.apartamentyinnova.com). Construction works are being carried out by the local company HARAS Sp. z o.o. It is not the first time we work with them - they have built for us a part of the OSIEDLE-INNOVA investment and the OSIEDLE-MODERNO building. GETIN NOBLE BANK S.A. is responsible for financing the investment. In March we started the construction works of the B2 building within the Ostoja-Wilanów housing estate (www.ostoja-wilanow.com) in Warsaw. It closes the investment from the south and it includes 43 residential units and 3 commercial outlets. Skanska is in charge of construction works and we have worked with them already within the framework of this investment and construction of buildings B4 and C2. As at 30 June 2016 FPP has 495 residential units that are being built. In accordance with our quality assurance policy, the sale of units situated in the buildings mentioned earlier commenced after initiating the construction works. We expect to finish the construction works of the following buildings in the second half of 2016: C2 in the OSTOJA-WILANÓW investment in Warsaw (126 residential units) and buildings 6.4 and 6.5 in the APARTAMENTY INNOVA investment in Wrocław (206 residential units and 4 commercial outlets). We also plan to start the construction works of buildings 6.1. and 6.2 in the APARTAMENTY Innova investment (in total 211 residential units) in the 4th quarter of 2016 in Wrocław.
As far as our business activity in the first half of 2016 is concerned, FPP sold in total 142 flats and handed over keys to 76 flats. The debt towards financial institutions remains at a very low level (13,5 million zł until 30 June 2016). Please note that in the Financial Data tab you can access financial statements of FPP for the financial year 2015 and the previous years as well as the results of the audit that was carried out by DELOITTE.
Once again, we would like to thank you for the trust you have given us by buying a flat.
Warsaw, 23 September 2016
FPP was established in 2005 and its shareholders include: the Spanish company MARTINSA-FADESA S.A. (51% shares) and the Polish company POLNORD S.A. (49% shares). Currently, FPP is in the process of constructing the Ostoja-Wilanów (www.ostoja-wilanow.com) housing estate in Warsaw and Apartamenty-Innova (www.osiedle-innova.com) in Wrocław. In addition, the company has already completed the investments of Osiedle-Innova (www.osiedle-innova.com) and Osiedle-Moderno (www.osiedlemoderno.pl) in Wrocław. Also, FPP is the owner of plots allowing the construction of 500 residential units. Since its establishment until the day of 30 June 2016 FPP have sold 2 702 flats out of which 839 in Wrocław and delivered 2 439 of them. In 2015 FPP sold 341 residential units and delivered 253 and issued the invoices for the total value of 89,9 million zł.