Develia has signed a preliminary agreement with Gdansk Development Holding N.V., established by two Belgian developers, Alides and Revive, to acquire 100% of the shares in Stocznia Cesarska Development, the perpetual usufruct holder of the former Imperial Shipyard site in Gdańsk. The transaction is valued at approximately PLN 550 million and will include both the value of the shares and the repayment of loans taken out by Stocznia Cesarska Development. Once the deal is finalized, Develia plans to develop a multifunctional project on the Imperial Shipyard site comprising at least 3,000 apartments as well as commercial premises.
Ultimately, Develia will acquire 100% of the shares in Stocznia Cesarska Development, whose assets include the Imperial Shipyard land together with design documentation and building permits already issued for part of the site. The multifunctional project is expected to deliver at least 220,000 square meters of residential and commercial usable space. A final building permit has already been issued for Phase I, covering 388 residential units and 31 commercial units. Construction could begin as early as 2027.
“Signing the preliminary agreement is the first important step toward delivering a project in this iconic part of the former shipyard area. A development of this scale, in such a unique location, combines significant responsibility with a major growth opportunity and fits well within our expertise as one of Poland’s leading developers. Once the transaction is closed, we plan to carry out the investment in stages, which will allow us to spread general contracting costs efficiently and secure our long-term presence in the Tri-City area. Warsaw and Gdańsk are currently our strongest markets with solid prospects, and this is reflected in our investment strategy,” said Andrzej Oślizło, CEO of Develia. “We consider the negotiated transaction terms attractive, and we are also not ruling out the possibility of inviting a partner to the project, which could further increase its potential,” he added.
The transaction is valued at around PLN 550 million and will consist of the purchase price for the shares and the repayment of loans granted to Stocznia Cesarska Development. Develia is required to pay an advance equivalent to PLN 55 million. The company’s cash position allows it to finance the transaction from its own resources, although it is also considering the use of debt financing.
“The former Imperial Shipyard site in Gdańsk is a unique area with enormous potential that can be given a new life. The current local zoning plan makes it possible to create a multifunctional district in a place of major historical importance for modern Poland. It is one of the few investment areas of this scale located in the center of a major city,” said Karol Dzięcioł, Member of the Management Board of Develia. “This will be our second major city-shaping project in Gdańsk, following the recently launched PPP revitalization project in the Nowy Port district. It is therefore also an expression of our long-term belief in the development potential of the Tri-City area,” he added.
Under the preliminary agreement, provided that the State Treasury does not exercise its pre-emption right over the shares, Develia and the sellers will enter into a conditional share sale agreement. The conditions precedent, which must be fulfilled by December 20, 2026, include obtaining the consent of the minister responsible for maritime economy, as well as excluding the Directorate and Fire Station buildings from the scope of the transaction.
Stocznia Cesarska is a site of major historical significance, from its origins in the 19th century to the events linked to the birth of Solidarity and Poland’s political transformation. For decades, it played an important role in the development of Gdańsk, the shipbuilding industry, and the maritime economy. The Imperial Shipyard is located along the bank of the Dead Vistula River, close to Gdańsk’s main railway station and the Old Town, near Narzędziowców Street, Wyposażeniowców Street, and Plac Porozumienia Gdańskiego.
When Alides and Revive acquired the site in 2017, they took responsibility for a large-scale project of major importance to the future urban fabric of Gdańsk. In the following years, the partners consistently developed a vision for the site, obtained the necessary planning and administrative decisions, carried out the comprehensive renovation of two historic buildings — the Directorate and the Fire Station — adapting them to new functions, and systematically prepared the site for further development.
Revive focuses on locations with underestimated potential that, through properly planned revitalization, can generate significant added value not only in economic terms, but also socially and environmentally.
“Taking part in the revitalization of such an important place on the map of Poland is a great honor for Revive. We work with private equity funds, and our investors expect their capital not only to be allocated efficiently, but also to contribute to the creation of better places to live. The transaction with Develia is an important milestone in the process of finalizing our Good Life Fund. At the same time, we are preparing further funds that will allow us to continue projects supporting social development in Poland,” said Nicolas Bearelle, founder and chairman of the executive board of Revive.
Alides made a deliberate long-term portfolio decision that will allow it to release invested capital and reinvest it in the many development projects it is currently pursuing in Poland.
“Stocznia Cesarska is a one-of-a-kind place on the map of Poland. We are proud of the results of our work — not only in terms of execution, but also in terms of the adopted vision, the planning process, and social engagement. We guided this site through the most complex and important phase of its transformation, building solid foundations for its further development. The current transaction is the consequence of a well-considered portfolio decision: by handing over the project at this stage of advancement, we are releasing capital and resources that we can direct toward the implementation of our next development plans in Poland — a market that remains strategically important to us and where we continue to strengthen our presence,” said Rikkert Leeman, CEO of Alides.
Develia S.A. is a Polish property development company headquartered in Wrocław and listed on the Warsaw Stock Exchange. It was established in 2006 as LC Corp and has operated under its current name since 2019.
The company specializes in residential, commercial, and office developments in Poland’s largest cities, including Warsaw, Kraków, Gdańsk, Katowice, and Wrocław. Develia is one of the largest listed developers in Poland, with operations covering the construction, sale, and lease of real estate.
