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Develia has signed a preliminary agreement with Gdansk Development Holding N.V., established by two Belgian developers – Alides and Revive, for the acquisition of 100% of shares in Stocznia Cesarska Development – the perpetual usufructuary of the former Imperial Shipyard site in Gdańsk. The transaction is valued at approximately PLN 550 million and includes both the share purchase price and the repayment of loans taken out by Stocznia Cesarska Development. Once the transaction is completed, Develia plans to deliver a mixed-use project on the site, comprising at least 3,000 residential units along with commercial space.
Once the process is concluded, Develia will acquire 100% of the shares in Stocznia Cesarska Development company, which holds the land of the Imperial Shipyard in its assets, along with project documentation and building permits issued for part of the site. As part of the mixed-use project, at least 220,000 square meters of residential usable floor area (PUM) and commercial usable floor area (PUU) will be developed. Construction may begin as early as 2027.
“Signing the preliminary agreement marks an important first step toward delivering a project in an iconic part of the former shipyard area. A project of this scale, in such a unique location, brings both significant responsibility and a strong growth opportunity, and fits well with our capabilities as one of Poland’s leading developers. Once the transaction is closed, we plan to deliver the project in phases, allowing us to manage general contracting costs more efficiently while securing our long-term presence in the Tricity area. Warsaw and Gdańsk are currently the strongest markets with solid growth prospects, which is reflected in our investment strategy,” says Andrzej Oślizło, CEO at Develia. “We view the agreed transaction terms as attractive, while remaining open to the prospect of bringing a project partner, which could further enhance its potential,” he adds.
The transaction is valued at approximately PLN 550 million, comprising both the value of shares and the repayment of loans taken out by Stocznia Cesarska Development. Develia is required to pay an advance in the total amount equivalent to PLN 55 million. Develia’s cash position allows it to finance the transaction using its own funds, although the company is evaluating the option of debt financing as well.
“The former Imperial Shipyard site in Gdańsk offers a rare opportunity to bring new life to a truly unique location. The current zoning plan allows for the development of a mixed-use district in an area of major historical importance to modern Poland. It is also one of the few large-scale investment sites located in the heart of a major city,” says Karol Dzięcioł, Member of the Management Board at Develia. “This is our second major, city-shaping project in Gdańsk, following the recent launch of the PPP revitalization of Nowy Port. It also reflects our long-term confidence in the Tricity’s growth potential,” he adds.
Under the preliminary agreement, and provided that the State Treasury does not exercise its pre-emption rights over the shares, Develia and the seller will enter into a conditional share sale agreement. The conditions precedent, to be satisfied by 20 December 2026, include – among others – obtaining approval from the minister responsible for maritime economy, as well as carving out the Dyrekcja and Remiza buildings from the scope of the transaction.
When Revive and Alides acquired the site in 2017, they assumed stewardship of one of Poland’s most complex and historically sensitive urban regeneration challenges. Over the years that followed, the partnership shaped the development vision for the site, secured the planning and permitting framework, realised the first buildings, and systematically prepared the broader area for large-scale mixed-use development. Today, the site stands fully development-ready – with building permits in place and construction conditions established for future phases.
Revive focuses specifically on undervalued locations with clear urban and economic potential, where we can create genuine added value through regeneration and leave a positive ecological and social impact.
“Needless to say Revive is honored to have contributed to the revitalization of a true landmark location in Poland. We work with private equity and our investors value their capital is not only being deployed effectively, but also contributes to making better places. The transaction with Develia is a key milestone in the completion of our Good Life Fund, yet we are lined up with successor funds to continue building society in Poland.”
Having completed this foundational phase of value creation, Alides made a deliberate and forward-looking portfolio decision, allowing to free the capital invested and reinvest the value created in the many ongoing development opportunities in Poland.
“The Imperial Shipyard is a site unlike any other in Poland. We are proud of what we have built here — not just in concrete and steel, but in vision, planning, and community engagement. We have taken this site through its most complex and defining phase of transformation. This transaction reflects a deliberate portfolio decision: by transferring the project at this stage of maturity, we free up capital and focus to pursue the next chapter of our growth in Poland — a market in which we remain deeply committed and continue to expand.”