Preparing for DD debut

"We want to take advantage of the economic boom and further increase the scale of our operations and keep the high pace of our company's results growth. That's why we have decided to acquire additional funds from bourse investors. The WSE debut means an opportunity to implement new projects and strengthen our position as a leading developer in Warsaw," says Jarosław Szanajca, president at DD.

Currently, the company is completing the Patria residential complex in Powiśle, close to Plac Trzech Krzyży, the Marina Mokotów development as well as houses in Stary Mokotów. The IPO will enable the developer to implement new projects.

DD's H1 2006 consolidated net profit reached zł.57.98 million compared to zł.11.6 million in H1 2005. Last year's total profit amounted to zł.52.15 million. Sales profit in H1 2006 accounted for zł.349.08 million, which is an 81.8-percent increase compared to H1 2005.

In that period the company sold 946 apartments (584 popular apartments, 307 of increased standard and 34 luxury) and 21 homes.

"Such good results are the result of the high demand for new developments offered by our company, as well as the fact that we were in a position to satisfy that higher demand thanks to the number of completed developments." says Janusz Zalewski, deputy president at DD.

At the moment, DD is Warsaw's second-largest developer in terms of of completed apartments. Last year its market share amounted to nine percent. In the last 10 years the developer has completed over 8,000 apartments and homes.