Thursday, 6 November 2025
CPD S.A., a Warsaw-listed real-estate company, has unveiled a plan to assemble property holdings worth at least one billion Polish zlotys by the end of 2028. The firm said it aims to evolve into Poland’s first modern real-estate investment trust, combining commercial and niche property assets across several markets . To finance the expansion, CPD intends to issue up to nine million new shares, priced at PLN 3.2 each, by the end of 2025 .
The strategy, announced in late September, involves acquiring income‑generating buildings in Poland, rental apartments in Florida, technology‑related real estate such as data‑centre sites, and hotel properties around Europe . Company chairman Rafał Kijonka said the blend of Polish stability with American growth and European quality is designed to provide investors with a resilient global property allocation .
Alongside the share issue, CPD plans to introduce a shareholder‑oriented payout policy. Starting from the 2026 financial results, it intends to return up to 80 % of net profits to investors . This, according to management, will help attract capital by offering both asset growth and regular distributions.
CPD, formerly known as Celtic Property Developments, has operated mainly as a developer and landlord of residential and office projects in Poland and Hungary. The new strategy marks a shift toward a pooled investment model similar to REITs in other countries, with holdings spanning multiple sectors and regions . The company says it will maintain its domestic focus while selectively investing abroad, aiming to deliver predictable rental income and long-term value creation for shareholders.
