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Dom Development goes in-house

Tomasz Cudowski 11 April 2018

Tomasz Cudowski

Journalist

+48 22 356 25 26
tomasz.cudowski@eurobuildcee.com

Tomek graduated from the faculty of modern languages at the Adam Mickiewicz University in Poznań, where he also started his journalist career in the late 1980s. He has worked in the real estate press since 2005, covering the residential market for ‘Eurobuild CEE’ magazine as well as the new technologies and property management sectors. Sometimes he can be heard on Polish Radio 2, where he reviews the press on the morning programme. At other times he can be seen in the Bieszczady or Beskid Niski mountains, where he enjoys rambling with no fixed purpose or destination in mind.

POLAND In Q1 2018, Dom Development registered net sales of 848 apartments (566 in Warsaw, 205 in the TriCity and 77 in Wrocław) compared to 806 units a year earlier – an increase of 5 pct y-o-y.

The largest quarterly sales were in the following projects: Wilno (83 units), Forma (63), Premium (57) and Moderna (55) in Warsaw as well as Spektrum (55 units) and Idea (53) in the TriCity. In the first three months of the year, the developer delivered 417 units to clients (81 pct more than in Q1 the previous year), mainly due to those finally handed over to their buyers in the Wilno (126 units) and Saska (61) estates. As the supply continues to be outstripped by the strong demand, upward pressure is being exerted on housing prices. Following the surge in 2017, prices continued to grow gradually in the subsequent quarter, according to the company’s press release on its quarterly figures. The developer also states that almost 40 pct of its sales in the last quarter were cash transactions.

“Our investment plans for 2018 involve the more units under construction than even the record set last year,” declared Jarosław Szanajca, the CEO of Dom Development.

In the last quarter the company also took the decision to diversify its project implementation. So far the company has outsourced construction work to external general contractors, whereas in the near future the developer intends to use also the services of its subsidiary Euro Styl (taken over in June 2017), which has its own construction company.


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