REKLAMA

Property developers prepare for a wave of acquisitions

2007-08-24 00:00
publikacja
2007-08-24 00:00
"Merger talks are already under way. The sector has cooled down as the prices of apartments are not growing that fast and a favorable period for acquisitions is approaching," said Andrzej Knigawka, analyst with ING Securities. In his opinion, the largest players could designate hundreds of million złoty for takeovers, as some of them still have proceeds from recent IPOs.

Experts point at Jarosław Szanajca, Ryszard Krauze, Michał Sołowow and Józef Wojciechowski, as the most likely players to consolidate the market. "We are looking for small developer companies which have attractive plots," confirmed Wojciech Ciurzyński, president of Polnord, a subsidiary of Ryszard Krauze's Prokom Investments. Similar information was revealed by Jarosław Szanajca managing Dom Development. LC Corp has similar plans. "Buyers will mainly be foreign companies. They want to enter Poland and they are looking for companies with local know-how," said Michał Sołowow controlling Echo Investments. (Rzeczpospolita, pp. A1, B1) M.M.



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