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Ambitious Cordia

"Wages are rising and unemployment is very low, so there are a lot of potential buyers and renters of apartments," told us Michał Melaniuk, managing director, Cordia Polska

"If there is demand for rented apartment, somebody will want to buy them. So this is a market of individual investors, who buy apartments on a mass scale to rent them. And the market is in robust health. The entire economy is strong, so it does not seem as though anything could change. For sure, the next 12 or 25 months will be also good. However, this means that there are other challenges. Land purchases are not so easy and it is even more difficult to estimate construction costs. This has resulted in pushing up labour costs and the increased activity of construction companies as construction costs have risen. This is a challenge, but the residential market in Poland seems to be in a very good condition anyway," said Michał Melaniuk.

"Cordia has ambitionto be the largest or one of the largest developers in the region. Now we are the largest developer in Hungary, where we sell over 1,000 apartments annually. We would like to be at the same level in Romania, where we are starting our first project after a long time. In Poland, we have projects in Kraków, Warsaw and we are preparing to start one in the TriCity– this should take place around mid-2018. We would like to reach the level of 1,000 apartments sold in all these three markets and I think this will be possible within two or three years," said managing director of Cordia Polska.

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