Atal — how one of Poland's largest developers is holding its position through the slowdown
For the residential market, 2025 was a test of nerves: more expensive credit, cautious buyers, sales under pressure. Atal — a nationwide developer listed on the Warsaw Stock Exchange (GPW) — came through this period with a net profit of PLN 223 million and a dividend recommendation, while the first half of 2026 showed that sales are clearly rebounding.
Sales under pressure, but no collapse
Across the whole of 2025, the Atal Group signed 1,678 development and preliminary (pre-sale) agreements (net) — around 19% fewer than a year earlier. The fourth quarter alone brought 534 agreements, and the strongest month was December (279 contracts) — coinciding with the start of the rate-cutting cycle. The decline in sales affected most of the market; the differentiator is what happened on the handovers and result side.
Handovers drove the result
In 2025, Atal handed over 2,065 units to clients. The acceleration at year-end was decisive: 803 handovers in the fourth quarter against 439 a year earlier. Because the developer books revenue at the moment a unit is handed over, this wave of handovers fed through to the result. The Group closed 2025 with revenue of around PLN 1.27 billion and a net profit of PLN 223.3 million, recommending a dividend of PLN 4.50 per share (close to PLN 195 million).
The first half of 2026 — a rebound in sales
In H1 2026, Atal signed 1,547 agreements — almost as many as in the whole of 2025, achieved in half the time. The Group recognised 1,013 handed-over units and, at the end of the second quarter, held 287 active reservations (twice as many as at the end of 2025). The management board has set out its handover plan for 2026: a minimum of around 3,300 units, with the potential to exceed 4,000.
Model: nationwide scale and repeatability
Atal's strength is geographic diversification — Silesia, Kraków, Warsaw, Wrocław, the Tri-City, Poznań and Łódź. It is a model built on repeatability and construction-cost control rather than on individual prestige projects. In a slowdown, such a structure acts as a stabiliser.
Position against the competition
In the 2025 volume rankings, Dom Development remains in the lead (a record 4,448 units sold and 4,228 handed over). Atal ranks among the very top large developers on the Warsaw Stock Exchange (GPW) — alongside Develia, among others. The competition today is about who navigates the bottom of the cycle most efficiently while preserving profitability and its land bank.
What this means for the market
In a slowdown, the advantage shifts towards players with scale, diversified geography and a healthy balance sheet. A decline in sales need not mean a decline in the result, provided the developer has a backlog of projects ready for handover. The rebound in sales in H1 2026 suggests that the market has probably left the toughest point of the cycle behind.
An editorial piece by Method Press based on public sources (company reports, press releases, trade press). Produced independently, with no commercial relationship with the company described.