Polnord has its solution to falling property sales

2008-10-30 00:00

publikacja
2008-10-30 00:00

"We have a surplus cash flow and access to about zł.100 million. We construct on the basis of so-called secure building. This means that an investment financed by a bank will be completed even if sales decrease, as we can subsidize it," said Wojciech Ciurzyński, president of Polnord.

Financing the following phases of an investment will be launched with 60-70 percent sales of the existing projects. The CEO is encouraging banks to be more willing in providing loans to clients who want to purchase apartments in "secure investments".

"We are buying land in Lublin, Szczecin and Gdynia. We are also engaged in negotiations in Katowice," said Ciurzyński. The firm is preparing for more investments in the Russian Federation, namely in Novosibirsk and Moscow.

Sources: Parkiet, Puls Biznesu (M.M.)

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Polnord has its solution to falling property sales

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