A record residential year and a return to profit — Cavatina’s results

The Cavatina Group closed 2025 with results that are impressive by the standards of the Polish market: a total of 1,454 units sold (905 signed contracts, 209 active reservations and 340 units in the institutional PRS rental model), of which 689 were handed over to buyers. On top of that, the company raised over PLN 500m in external capital, including almost PLN 200m from the Fidera Vecta fund. It is the best housing year in the group's history.

Three legs of one platform

Cavatina's strength is that it does not stand on a single pillar. The model combines three streams: stable office income, a dynamic premium housing segment and a growing institutional rental portfolio (PRS, run under the Cavare brand — we cover this separately). In 2025 this diversification translated into a concrete result and made Cavatina one of the broadest development platforms in Poland. It is worth distinguishing two entities here: Cavatina Holding (the listed company) and the wider Cavatina Group — some of the 'record' figures relate to the group level.

The rental business that funds the rest

The foundation of this stability is the office portfolio. In 2025 rental income grew by almost 30% year on year with average occupancy at 90%, and net rental income reached PLN 91.1m — 40% more than a year earlier, with an operating margin exceeding 85%. It is this recurring income that lets the company run capital-intensive housing projects without depending on a single sales cycle.

Liberty Tower — the flagship proof of demand

The clearest symbol of the return to the offensive is Liberty Tower in Warsaw: a 43-storey, 140-metre tower that will offer 587 apartments, five levels of parking and an extensive wellness and entertainment zone. Before the sales office even opened in February 2026, 60 apartments on the top floors had already been sold — a signal that premium demand at the best addresses has not weakened at all. After a difficult cycle, in which more expensive money lowered valuations and dragged out negotiations, Cavatina has returned to profit and is playing for growth again.

What it means

For the market, Cavatina's result confirms that developers with a broad, diversified portfolio come out of a period of uncertainty stronger. For us at Method Press it is an example of an organisation running three different businesses in parallel — offices for tenants, housing for buyers and rental for residents — each of which speaks a different language. The broader the platform, the greater the value of one consistent message, rather than three separate narratives drifting apart across companies.