WOOD Flash – Dom Development: 1Q21 – strongest start to a year on record
With demand for apartments in Poland outstripping supply, Dom Development continues to enjoy a stellar run. The company reached an impressive PLN 174m in profit in 1Q21, in what seems to have been the strongest quarterly result on record. This is more than 50% of the Bloomberg consensus net profit for the year. While land remains expensive, and the prices of materials are also increasing, this seems to be, so far, more than offset by the strong demand, fuelled by the low rates, high savings and affordable mortgages. As the permitting and sourcing of land remain difficult, we believe we may see further upward pressure on the apartment prices for the rest of the year.Dom Development is engaged in the construction and sale of residential real estate in Poland.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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