Statistical office data confirms a booming building sector in the first quarter

According to the Central Statistical Office (GUS), 15% more buildings were completed in the first quarter of this year than in the corresponding period last year. The majority of these were houses for rent, which were 60.5% higher than the same period last year. Starts by small individual investors were also up by 8.4%. The number of newly-built retail outlets on the other hand, dropped by 13%. The number of building permits issued by the authorities rose by 14% in the first quarter, indicating a boom in the building sector. A majority of this growth was consumed by the big publicly traded construction companies with Mitex S.A. and Energomontaz Poludnie taking the lead. (Parkiet, page 9) S.M.