Cavatina

What Cavatina does

Cavatina Holding Spółka Akcyjna is Poland's largest developer of Class A office and residential real estate, headquartered in Kraków and publicly listed on the Warsaw Stock Exchange (WSE: CAV). The company operates a vertically integrated platform that manages the full investment lifecycle in-house — from land acquisition and architectural design through interior arrangement, general contracting, and surface finishing — across seven major Polish cities: Warsaw, Kraków, Katowice, Łódź, Wrocław, Gdańsk, and Bielsko-Biała. The portfolio comprises approximately 200,000 m² of currently leased Class A office space (with a further 150,000 m² of office buildings previously sold) and 2,600+ residential units in prime urban locations, including flagship projects such as the 100,000 m² Quorum mixed-use complex in Wrocław and the 90,000 m² Palio Office Park in Gdańsk.

The business generates revenue through two primary streams: recurring income from Class A office rental and tenant fit-out/arrangement services (PLN 161.6 million in 2025), and one-time sales of residential apartments to individual and institutional buyers (1,454 units sold in 2025 across disclosed projects, with 206 units sold in Q1 2026 representing 29% year-over-year growth). Capital is raised primarily through public debt issuance on the Polish Catalyst regulated market, with five successive bond programs established — the most recent being a PLN 250 million program approved by the KNF in March 2026 within a record 26-day review, following a PLN 200 million program in May 2025 and PLN 38.6 million in Series G bonds in April 2025. The company operates Cavatina Sp. z o.o. as a wholly-owned operating subsidiary for real estate development activities.

Distribution is direct: residential units are sold via dedicated phone lines and the company website, while office space is marketed directly to corporate tenants. Bond offerings are arranged through Michael/Ström Dom Maklerski S.A. as the investment firm and Gessel as legal advisor. The company positions itself on sustainable construction principles and ESG-focused development, targeting corporate tenants seeking modern turnkey office solutions and individual/family buyers seeking premium urban housing in Poland's primary metropolitan markets.

Name

Cavatina

Legal name

Cavatina Holding Spółka Akcyjna

Website

https://cavatina.pl

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Cavatina Holding is Poland's largest Class A office and residential real estate developer, operating a vertically integrated platform across seven major Polish cities. The company manages the full investment lifecycle in-house, generating revenue from office rental, fit-out services, and apartment sales to corporate tenants, individual buyers, and institutional investors.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Rental and Leasing Services (532), Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Lessors Of Real Property, Nec (6519), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)

Keywords

• Commercial real estate development
• Residential property development
• Class A office buildings
• Real estate investment
• Mixed-use property development

Headquarters

HQ city

Kraków

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Office Space Rental and Arrangement: Cavatina Holding manages and rents Class A office space across multiple cities in Poland, providing turnkey office solutions including design, fit-out, and arrangement services.
2. Residential Unit Sales: Sale of apartments and residential units across Polish cities. The group sold 1,454 residential units in 2025 and 206 units in Q1 2026 (29% YoY growth), with over 290 active reservation agreements.
3. Bond Issuance Programs: Cavatina Holding raises capital through public bond issuance programs listed on the Polish Catalyst market. The V program has a ceiling of PLN 250 million. Secured bearer bonds are issued in multiple series.

Pricing tiers

Distribution channels3 records

Marketing channels2 records

Core offering

Cavatina Holding is Poland's largest developer of Class A office and residential space, operating a vertically integrated real estate platform. The company manages all key investment processes in-house—from land acquisition and architectural design through interior arrangement, general contracting, and surface finishing—and develops, rents, and sells office and residential properties across seven Polish cities (Warsaw, Kraków, Katowice, Łódź, Wrocław, Gdańsk, and Bielsko-Biała).

Product overview

Cavatina Holding S.A. is Poland's largest real estate developer, operating a multi-segment development platform focused on Class A office buildings and residential properties. The company manages all key investment processes internally — from acquisition and architectural design through interior arrangement, general construction, and finishing. The current portfolio includes approximately 200,000 sqm of rented office space and 150,000 sqm of sold office buildings, with over 2,600 apartments in prime locations. Projects span major Polish cities including Warsaw, Kraków, Katowice, Wrocław, Gdańsk, Łódź, and Bielsko-Biała. The office portfolio features flagship complexes such as Quorum (Wrocław), Palio Office Park (Gdańsk), Global Office Park and Grundmanna Office Park (Katowice), Ocean Office Park and Equal Business Park (Kraków), Chmielna 89 (Warsaw), and Cavatina Hall (Bielsko-Biała). The residential segment includes projects such as Belg Apartamenty and Apartamenty Grundmanna (Katowice), Wima Apartmenty (Łódź), and Quorum Tower (Wrocław).

Differentiator

Problem solved

Functional benefit

Products and services

• Chmielna 89 Class A office building in Warsaw's business center with a distinctive crystal-like undercut shape located on Chmielna street near Aleje Jerozolimskie, targeted at corporate office tenants.
• Ocean Office Park B/D Office and service buildings complex in Kraków's Zabłocie district at Klimeckiego and Nowohucka streets, providing nearly 90,000 sqm of modern Class A office space for corporate tenants.
• Equal Business Park D Modern and functional office complex on Wielicka street in Kraków offering Class A office space with amenities including canteen, bookstore, kindergarten, beauty salon, café, and shop for corporate tenants.
• Global Office Park First large-scale mixed-use project in Silesia, located at Mickiewicza and Dąbrówki intersection in Katowice, combining office and residential functions.
• Grundmanna Office Park Office complex in central Katowice designed with sustainability focus, minimizing carbon emissions and providing green community spaces for corporate tenants.
• Palio Office Park Modern office and service complex in Gdańsk's Stocznia area near Jana z Kolna street, featuring eight buildings with nearly 90,000 sqm of Class A office space in the young city district.
• Cavatina Hall

Quantifiable outcome

• 1,454 residential units sold in 2025 (905 sold apartments + 209 active reservation agreements + 340 institutional segment units)
• +3 more outcomes

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Gessel (Law Firm)coreImplementation/ SI/ Consulting Partner · 16 March 2026Gessel law firm acted as legal advisor to Cavatina Holding S.A. on establishing its fifth bond issuance programme with an aggregate nominal amount of up to PLN 250 million. The base prospectus was approved by the Polish Financial Supervision Authority (KNF) on 16 March 2026, with the approval completed within 26 days, setting a record timeline. The programme enables Cavatina Holding to issue secured bearer bonds in multiple series on the Polish Catalyst market.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Globe Trade Centre (GTC): GTC is a Polish-listed real estate company operating Class A office and retail properties across Poland and CEE. Comparable to Cavatina's office portfolio strategy and Polish commercial real estate exposure.
• Capital Park: Capital Park is a Polish real estate company developing and managing mixed-use and office projects. Comparable to Cavatina's Polish office development and asset management activities.
• Robyg: Robyg is a Polish residential developer operating in Warsaw, Gdańsk, and Wrocław (now part of Develia group). Comparable to Cavatina in residential apartment sales and Polish urban locations.
• Archicom: Archicom is a Polish residential and office developer active primarily in Wrocław and other major Polish cities. Comparable to Cavatina in residential product offerings and geographic focus.
• Ghelamco: Ghelamco is a Belgian-Polish real estate developer specializing in large-scale Class A office and mixed-use projects in Poland and Belgium. Closely comparable to Cavatina's office development and asset management activities.
• Vantage Rent: Vantage Rent is a Polish real estate developer focused on Class A office buildings in Warsaw and other Polish cities. Comparable to Cavatina's Class A office leasing portfolio and direct B2B tenant sales model.
• Echo Investment: Echo Investment is a leading Polish real estate developer of Class A office, retail, and residential projects across major Polish cities. Directly comparable to Cavatina in product mix, geography, and target tenant/buyer segments.
• Develia: Develia is a major Polish residential and office developer active in Warsaw, Wrocław, Kraków, and other cities. Comparable to Cavatina in residential segment focus and Polish multi-city presence.

Broad incumbents

• Budimex Nieruchomości: Budimex Nieruchomości is the real estate arm of Polish construction group Budimex, developing residential and commercial projects nationwide. Comparable to Cavatina's vertically integrated development model and Polish market focus.
• Skanska Commercial Property Development (Poland): Skanska's Polish commercial development division builds and leases Class A office space in Warsaw, Kraków, Wrocław, and other Polish cities. Comparable as a major international developer active in Cavatina's primary markets.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cavatina