Dom Development Group's land bank has exceeded a record 17,000
The potential of land for future projects for the first time in the history of Dom Development Group exceeded 17,000 units, the developer said. At the end of June, the group's land bank included 17,047 units, which means an increase by 12% y / y.
"In the first half of 2021, the market supply of new apartments in the largest agglomerations of Poland, and in particular in Warsaw, significantly decreased. The developers' activities were limited mainly by difficulties in obtaining administrative decisions as well as high prices and low availability of land. Despite these obstacles, in the first half of 2021 year, the group expanded its land bank by acquiring new investment land, and the potential of land for future projects for the first time in the history of the Dom Development SA capital group exceeded 17,000 units, of which as many as 9,000 were in the most demanding capital market" - announced in semi-annual report.
The bank of land (land purchased and controlled) in Warsaw (Dom Development SA) increased by 37% y / y to 9,688 premises, in Tricity (Euro Styl) - decreased by 17% y / y to 5,522 premises, and in Wrocław - increased by 27% y / y to 1,837 units.
"Euro Styl SA's land bank decreased by 17% compared to the end of June 2020, but it was the effect of an exceptionally high base, related to the finalization of many land purchase transactions still in 2019. Currently, the group has a high-quality land bank in the Tri-City, which, in the opinion of the company's management board, will enable Euro Styl SA to maintain its leading position on the local market in the coming years" - it was stated in the report.
Source: Dom Development & ISBnews