Warsaw-based developer Dom Development has begun work on its Osiedle Regaty project, located on Żerański Canal near the town of Nieporęt. The project will be built in six stages, with the first stage to be delivered to residents in early 2009, while other stages will follow every two to three months. The total value of the investment amounts to zł.335 million.
Sale of units has also begun, with price per sqm in the range of zł.4,800-6,400. When completed, the Osiedle Regaty project will comprise 17 three-storey, multi-family buildings as well as two retail-service pavilions. Altogether, more than 1,100 apartments will be built, ranging in size from 33-91 sqm.
"Thanks to their location, the Osiedle Regaty apartments are an excellent proposition for people looking for calm, a number of possibilities for relaxation and contact with nature. At the same time, its proximity to transportation routes assures residents quick access to downtown Warsaw," said Jerzy Bieniewski, Dom Development's director of sales and marketing.
Dom Development is the second-largest developer in Warsaw in terms of number of apartments delivered. Over the next five years the firm plans to deliver around 9,400 houses and apartments, the value of which tops zł.4 billion. In 2006, the Dom Development Capital Group - comprising three wholly owned subsidiaries and a joint-venture company - saw sales revenues of zł.729 million and profit of zł.135 million.
