Dom Development has signed an agreement to acquire companies from the Buma Group for PLN 209,5 million.

Dom Development has signed an agreement to acquire 100% of shares in companies from the Buma Group from Giovanni Fundusz Inwestycyjny Zamknięty, the company said. The transaction value is PLN 209.5 million.

"Dom Development acquired from Giovanni Fundusz Inwestycyjny Zamknięty 100% of shares in the following companies from the Buma Group: Buma Development sp. Z oo, Buma Management sp. Z oo, Buma Development 22 sp. Z oo, Buma Development 21 sp. Z oo, Buma Development 20 sp. Z oo, Buma Development 12 sp. Z oo, Buma Development 8 sp. Z oo, and Dom Construction Sp. Z oo, a 100% subsidiary of the Company, acquired 100% of shares in Buma Contractor 1 sp. o.o .".

Thanks to the transaction, Dom Development strengthens its position in Krakow, where it has been operating since the acquisition in July 2021 of the controlling stake in Sento. Including the Buma housing companies, the Dom Development Group's land bank in Kraków has the potential to build 2,097 units, underlined.

"Krakow is an important business center, with a strong labor market, with high salaries. At the same time, it is an important academic center and a popular tourist destination for travelers from Poland and abroad. By taking over shares in housing companies from the Buma Group, we are rapidly strengthening our position in Krakow, gaining not only 224 units under construction but also a land bank allowing for the construction of 1,370 units Combined with the potential of Sento SA acquired in 2021, this means the third position on the Krakow market - the total sales of both companies in 2021 amounted to over 500 apartments. further development and strengthening of the market position in this city. What is particularly important, thanks to the management and teams of companies included in the Dom Development Group, we gain partners who perfectly know the local market and conditions "- commented the president of Dom Development, Jarosław Szanajca, quoted in the announcement.

Dom Development is a residential developer listed on the Warsaw Stock Exchange since 2006. In 2021, it sold 4,066 apartments.

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