Polnord fights slowdown

Property developer Polnord is expecting that the slowdown in the sector will last until the middle or end of 2009, but it has already started purchasing land as prices fall.

"We have a surplus cash flow and access to about zł.100 million," said Wojciech Ciurzyński, president of Polnord. The firm is preparing for more investments in Russia, namely in Novosibirsk and Moscow.