Housing heavyweight

With nearly 15,000 units in various stages of development across Poland, Hungary, Romania and Croatia, Nanette is investing heavily in the CEE region's strong housing market. To date, the company has sold 2,100 apartments, delivering 800 over the past seven years of operation in the region. In H1 2007, the company reported E14.7 (zł.55.3) million in sales revenues and expects this number to grow significantly as subsequent projects are delivered.

In Poland, the company has over 10,000 units in its development pipeline over the next four years, primarily through Robyg, the company in which it has a 47.5-percent stake. Currently, eight individual projects are in various phases of planning or construction. Nanette has already delivered the first two phases (327 apartments) of its Wilanów One development and is in the process of building over 1,700 more apartments within Warsaw's high-profile residential complex Miasteczko Wilanów.

"We are beginning construction on the Robyg Park - Włodarzewska project in Warsaw this month, which will offer 18,400 sqm of apartments," said Nanette's board chairman Shaul Lotan, adding, "Our most important project will be the Robyg City Apartments in Żoliborz." The complex of 1,151 apartments, located centrally in the capital will be completed in early 2011.

Already listed on the AIM market on the London Stock Exchange, Nanette is looking forward to entering the Warsaw bourse. "We are considering floating on the Warsaw Stock Exchange by the end of this year or Q1 2008, depending on how the market performs over the next few months," said Oscar Kazanelson, Nanette's president.