Develia has signed an annex to the cooperation agreement with Grupo Lar Holding Polonia and Lar Management Polonia with the intention of developing another residential investment in Warsaw for approximately 550-600 residential units. The total capital commitment for the new investment will be PLN 125.3 million (EUR 29 million), with Develia's commitment set at 80% and Grupo Lar Holding Polonia's commitment at 20%. As stated, the annex to the joint venture agreement was concluded under conditions precedent, the main condition being the approval of the chairman of Poland's anti-trust watchdog UOKiK for the concentration.

The realisation of the investment depends on the fulfilment of the conditions for the acquisition of the real estate included in the preliminary land purchase agreement concluded by the special purpose vehicle. The existing partnership with Grupo Lar was launched in 2021 and includes the development of three investments: Ursynów#22, Lizbonska, which are already under construction, and a development in Bialoleka, which is in the pipeline. In total, these three developments will offer more than 600 residential units.