Wednesday, 23 September 2026
Lokum Deweloper expects to sell between 200 and 250 apartments in 2026 and maintains its forecast of around 250 unit deliveries for the year, as improving buyer activity encourages the Wrocław-based developer to restart residential construction after a more cautious period.
The company signed 101 development and preliminary agreements during the first six months of the year, 55% more than in the corresponding period of 2025. A further 35 apartments were covered by reservation agreements at the end of June. Management said activity strengthened as the second half began, supporting its expectation that the full-year sales target remains achievable.
Lokum also expects approximately 250 apartments to be delivered or recognised in its results during 2026. The company had already recognised 133 units during the first half, compared with 38 a year earlier. At the end of June, another 79 units were covered by preliminary agreements and 35 by reservations, providing part of the pipeline needed to reach the full-year objective.
The improvement in demand has allowed the developer to resume expansion of its residential offer. Construction has started on the first phase of Lokum Soho on Góralska Street in central Wrocław, comprising 461 apartments and nine commercial units. The project entered sales in September. At the end of June, Lokum had 626 units under construction, while its available stock consisted of 288 completed apartments.
Improved deliveries also lifted the company’s first-half development results. Revenue reached PLN 94.3m, compared with PLN 34.2m in H1 2025, while net profit from development activities amounted to PLN 12.1m after a PLN 3.9m loss a year earlier. The development margin reached 12.9%. Lokum expects profitability to improve further, although management does not anticipate reaching its longer-term 20% margin objective this year.
Despite the recovery, Lokum remains cautious about committing capital to additional land. The company currently intends to concentrate on preparing and developing sites already under its control rather than expanding its land bank. Projects in Siechnice and Sobótka have permits, but management indicated that current apartment prices in those locations do not yet justify starting construction at today’s development costs.
The 2026 targets point to a gradual recovery for Lokum after the residential slowdown that led the developer to reduce new construction activity. Stronger sales, a substantial stock of completed apartments and the launch of Lokum Soho give the company more capacity to respond if demand continues to strengthen, while its cautious approach to new land and project starts reflects continuing uncertainty over financing costs and the wider housing market.
