Property boom fuelled Dom Development's 2006 profit

The company's revenues in the same period increased from zl.130 million to zl.233 million. "We managed to achieve excellent results thanks to growing prices of flats and fixed costs of land and labor," revealed the company's president Jaroslaw Szanajca. Dom Development benefited from the boom in Warsaw property prices which amounted to 50.7%. However, Szanajca admitted that this year the company would not make such an impressive profit since prices will grow by around 15%. "The results will be higher than last year, but we cannot hope for the same growth," stated Szanajca. The company is currently implementing projects worth zl.2.2 billion. It is also going to pay out 15% of its net profit in dividends. (Puls Biznesu, p. 12) E.B.