Dom-inant player

Dom Development plans to invest around zł.750 million in a 6.7-ha plot near ul. Bora Komorowskiego. That figure includes the zł.92 million the company paid for the plot. The company plans to build some 1,600 new apartments on the site. Construction and apratments are due to launch in spring 2009.

"The complex that we are planning to develop can be compared in its scale with other residential projects such as Marina Mokotów, which turned out to be our great success," said Jarosław Szanajca, president of Dom Development.

The company is currently building over 3,200 apartments, whose total value amounts to zł.1.5 billion. Projects in planning stages include 7,328 apartments worth around zł.3.4 billion.

Dom Development also wants to strengthen its position on the Warsaw market and become a key player on the residential markets in other big cites such as Wrocław. The company plans to concentrate on mid-range apartments and continue the sale of upgraded apartments and homes.

"At the beginning of this quarter we managed to significantly increase our land bank, thanks to the acquisitions in Wrocław and Warsaw. We cannot exclude that this year we will enter other cities beyond Warsaw and Wrocław," says Szanajca.

Szanajca says he is satisfied with his company's Q2 financial results. "The net profit [zł.88.4 million] was the highest quarterly result ever and the sale of apartments grew significantly," he adds.