J.W. Construction misses August forecasts
The firm is also not planning to make any forecasts for the following year. "In the current situation we are simply unable to prepare reliable estimations. We do not know how many apartments we shall manage to sell. We also do not know how many of our clients who already signed contracts with us will conclude the purchase," said Józef Wojciechowski, head of the supervisory board and majority shareholder in the firm.
He went on to say that the dramatic situation of the sector is due to actions of the Financial Supervisory Commission (KNF) related to changes in the rules of granting mortgage loans. "I am not thinking about liquidating the business anyway. We will survive. Next year's budget will have to be cut. Nevertheless we intend to conclude all projects currently in execution," said Józef Wojciechowski.
Sources: Parkiet, Puls Biznesu (M.M.)
He went on to say that the dramatic situation of the sector is due to actions of the Financial Supervisory Commission (KNF) related to changes in the rules of granting mortgage loans. "I am not thinking about liquidating the business anyway. We will survive. Next year's budget will have to be cut. Nevertheless we intend to conclude all projects currently in execution," said Józef Wojciechowski.
Sources: Parkiet, Puls Biznesu (M.M.)
