WOOD Flash – Dom Development: Polish residential – a difficult market environment, but we see value in Dom
JLL has published an update on the latest trends in the Polish residential market. At its current valuation, Dom Development is our preferred name in the space. We believe that the company could announce its dividend recommendation in the coming days and, even factoring in a difficult operating environment and a margin compression ahead, Dom screens as good value at the current levels, in our view, even if we use a 7% risk free rate for Poland. We reiterate our BUY recommendation on Dom.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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