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TAG Group Records Strong Growth in 2023

COMPANIESTAG Group Records Strong Growth in 2023

In 2023, ROBYG from the TAG Group signed 2808 preliminary and developer contracts. In addition, ROBYG has 680 reservation agreements, which will soon be finalized as developer contracts. The TAG Group has a land bank for over 23,000 units.

In 2023, ROBYG from the TAG Immobilien Group signed 2808 preliminary and developer contracts as well as an additional 680 reservation agreements, which will soon be finalized as developer contracts. The TAG Group signed a total of 3324 preliminary and developer contracts and 680 reservation agreements. ROBYG completed and transferred 3359 units, and the TAG Group completed and transferred 4298 units, of which 3777 units were transferred to customers, and 521 units were put up for rent. In total, the TAG Group in Poland had about 7,000 residential and commercial units under construction in 2023. The group’s land bank allows for the potential construction of around 23,000 units across Poland. The group’s rental apartment portfolio totaled 2559 units as of December 31, 2023.

“We finished 2023 with very good sales results. Our cash position is very strong, which allows for further development of the Group. Expectations for the markets in 2024 are positive – lower inflation, funds flowing from the EU, and a stabilized economy. In 2024, we plan to start new projects and stages for about 4900 apartments. We have a large land bank and we are constantly introducing new investments for sale. The positive trend is that the market situation is good, and there is a clear demand. Unfortunately, the supply is still low – there is a shortage of apartments, especially in Warsaw, where interest in purchasing is the highest. Of course, acquiring new land is also important. The TAG Group has one of the largest land banks among developers in Poland – allowing for the construction of around 23,000 apartments. Our land is very well located in the five agglomerations where we operate: Warsaw, Wroclaw, Poznan, Lodz, and Tri-City. In Gdansk, we are finishing our largest ever project – Lavender Hills, which we have been implementing for 14 years, and we have delivered 3800 apartments in this estate. We are constantly looking for new land because the demand for apartments is growing and we would like to introduce next investments for sale even faster. The availability of land in the largest cities is currently smaller – but there is still a huge potential for urban development and providing an interesting housing offer by developers. In the long term, we want to be the largest residential developer group in Poland, offering 10,000 rental apartments and selling several thousand units per year” – said Oscar Kazanelson, chairman of the supervisory board of ROBYG and Vantage.

“2023 was full of challenges, but we ended it with excellent results. Synergies in cooperation between ROBYG and Vantage were systematically increasing – I would like to thank all our employees and contractors for their good cooperation and express appreciation for their commitment. Despite inflation or difficulties in financing apartments, we can prepare an attractive offer for our customers and support them in credit procedures. Recently, the greatest interest was in apartments within the government’s Safe Credit program – which generated greater demand also in the remaining segments of the housing offer. In every investment, we offered buyers a wide range of options to choose from. In addition, we are actively building the PRS market as part of Vantage’s activities. The process of integrating ROBYG and Vantage within the TAG Group has been completed and we see growing synergies in all departments” – said Eyal Keltsh, CEO of ROBYG and Vantage.

In 2022, ROBYG and VANTAGE began building synergies within the TAG Immobilien Group, and ROBYG took over supervisory and managerial competencies in Vantage. Eyal Keltsh was appointed CEO of both companies. Oscar Kazanelson, Chairman of the ROBYG Supervisory Board for over 20 years, additionally assumed the function of Chairman of the Vantage Supervisory Board. Regardless of the combined management and supervision, each company continues its previous activities. ROBYG builds and sells apartments, and also manages the general contracting and sales of Vantage investments. Vantage Rent operates in the PRS segment – apartments for rent. Each company is financed independently.

In 2022, the TAG Immobilien Group on the Polish market sold 2419 apartments and handed over to customers over 4500 units (including rental apartments).

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