Dom Development less reliant on general contractors

The management of Warsaw Stock Exchange-listed Dom Development, one of the biggest residential developers in Poland, has decided to change the company’s strategy with regard to the way in which its projects are built. Dom Development will from now on use its own resources and the experience of Gdańsk-based developer Euro Styl that is part of its capital group to build some of its projects, rather than appoint external companies as those schemes’ general contractors. The developer quotes the “unstable situation” in the construction industry as the reason for the change. The prices of building materials and costs of construction services in Poland have been growing in recent months with many builders now complaining about the difficulty in finding a sufficient number of qualified employees. This – along with the rising prices of sites for housing developments, driven by a huge demand for new apartments – has been putting an upward pressure on home prices in the country of late.