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Atal SAAtal real estate to consider return to bond market in 2025
Housing developer Atal Group will consider a return to the bond market in 2025, the company representatives told a videoconference. For the three quarters of 2024, the developer spent more than PLN 300 million (EUR 69.5 mln) on land acquisitions, but these purchases could be smaller in early 2025.
"We have not issued a single series of bonds in 2024. We will decide in 2025, but all indications are that since we have financed ourselves so far mainly with shareholder loans and a bank loan, we will probably return to the bond market in 2025. We will strongly consider such a decision," management board member Andrzej Biedronka-Tetla said.
As stated in the presentation, bonds worth PLN 340 million (EUR 78.7 mln) remain to be redeemed in 2025.
Biedronka-Tetla said that Atal spent around PLN 324 million (EUR 75 mln) on land acquisitions in the three quarters of 2024.
"There will be smaller purchases at the beginning of 2025, maybe a bigger replenishment in the second half of 2025 because we had quite a lot of these purchases because we are taking advantage of the market situation. The situation with land was not easy, but in the second half of the year quite a lot of land came in, which allows us to complete the offer," CEO Zbigniew Juroszek said.
"Despite the worse situation on the market currently, we are working very offensively so that when the economy returns, we will have plenty of products on sale. We have not stopped investments, we are starting new ones," he added.
doa/ nl/