No. 5/2023 - CeMat obtains the legal title to land plots
Nikolaj Plads 6
DK-1067 Copenhagen K
Copenhagen, 17 March 2023
ANNOUNCEMENT no. 5/2023
CeMat obtains the legal title to land plots
The CeMat Group has obtained a binding decision confirming the acquisition by law of the right of perpetual use of right (RPU) to 75% of the shares in four undeveloped plots of land on Wólczyńska Street, in Bielany, Warsaw. The total area of the four plots covered by the decision is 2,047 sqm, with the right of perpetual use of right established until 2089. This binding decision provides the legal basis for entering the right of perpetual use of right (RPU) in the land and mortgage register.
All the plots listed in the decision are used by CeMat for internal roads, and the final value of the properties will be confirmed in an independent valuation.
Obtaining the legal title to these plots represents the partial fulfilment of the company’s goals for 2023, as well as its long-term goals. According to the Group’s strategy, obtaining the legal title to these plots marks the first step in the value creation chain aimed at maximising the value of the particular plots in Bielany, Warsaw. The value creation chain consists of obtaining the legal title to the plots, receiving a re-zoning decision for the land, obtaining the building permit, and then undertaking the pre-sale process and construction works.
Regarding this newly issued decision, control over all four plots had previously been exercised through the right of possession.
This newly issued decision makes it possible to connect the part of the land located in Bielany with a public road – Wólczyńska Street – which will be important for the development process. Having additional access to a public road increases the likelihood of obtaining the necessary decisions during the development process, facilitates the connection of utilities and raises the attractiveness of the land complex as a whole.
Chairman of the Board
This announcement has been prepared in a Danish-language and an English-language
version. In case of doubt, the Danish version prevails.