Develia to acquire Bouygues Immobilier Polska for EUR 66.5 million

Develia has signed a preliminary agreement to acquire 100% of the shares in Bouygues Immobilier Polska, the Polish arm of French developer Bouygues Immobilier. The agreed price is EUR 66.5 million (approximately PLN 283.6 million).

This acquisition will expand Develia’s residential development pipeline and strengthen its land bank in key cities including Warsaw, Poznań, and Wrocław. According to Develia CEO Andrzej Oślizło, the transaction aligns with the company’s ongoing strategy of growth through joint ventures and acquisitions, particularly in the Warsaw market. Develia plans to allocate over PLN 500 million annually for land and acquisitions, and the deal will be financed from the company’s own funds, with the option to refinance through a bank loan.

Bouygues Immobilier has operated in Poland since 2001 and has delivered over 9,500 residential units and commercial spaces across 70 projects. As of the end of 2024, Bouygues Immobilier Polska had about 1,300 units under development or preparation, of which 1,098 were covered by development agreements, along with roughly 2,800 units secured through preliminary land agreements. Most projects are located in Warsaw (71%), with the remainder split between Poznań (13%) and Wrocław (16%). Ongoing projects include Viva Cité, Lumea Estate, and Neo Praga in Warsaw, Vilda Arte in Poznań, and Vivre in Wrocław.

Karol Dzięcioł, a member of Develia’s management board, noted that the acquisition not only increases Develia’s scale but also provides diversification through new land locations and potential synergy effects. He pointed to Develia’s prior successful integration of Nexity’s Polish operations, acquired in 2023, as evidence of the company’s ability to effectively manage acquisitions and drive group development.

The transaction is expected to close by June 30, 2025, pending approval from the President of UOKiK (the Office of Competition and Consumer Protection) for market concentration in Poland.