Euro Styl in Poland: property from developer
Objects for sale
Completed buildings
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Developer
Euro Styl S.A. based in Gdańsk, operating on the local market since 2007, has been part of the Dom Development Capital Group since 2017. Since 2006, Dom Development S.A. is listed on the Warsaw Stock Exchange.
In the first quarter of 2020, the Group sold 815 premises net, of which 220 premises in the Tri-City. Euro Styl efficiently and decisively reacted to the threat of COVID-19 infectious disease in Poland at the beginning of March by launching the possibility of online sales meetings and implementing the procedure of remote signing of contracts with customers. However, regardless of online sales, sales offices are still operating, with all precautionary measures in accordance with the recommendations of WHO and GIS. The processes of concluding notarial contracts and the transfer of apartments are also carried out efficiently and safely. All construction sites carried out by the Group are proceeding according to the plan, with the utmost care for the hygiene and safety of employees and subcontractors.
Already in 2019, while preparing for a potential downturn in the economic situation, the Group secured its financial liquidity. Thanks to the steps taken in advance, as at March 31, 2020, the Group had approximately PLN 644 million in bank accounts, and the Group's net interest debt to equity ratio (gearing) was approximately 4%. For everyone, including the Group's customers, it is a difficult time full of uncertainty and increased concern for their health and that of their loved ones. In a situation of such dynamic changes in the environment and high uncertainty, the safe structure of the Group's balance sheet, very high liquidity and experienced and efficient management staff will be the key factors that will significantly mitigate the effects of the coming crisis. In the current situation, the Group companies place particular emphasis on fast and transparent communication with customers and with the capital market. The Dom Development Capital Group is a market leader, and the Management Boards of the Dom Development Group companies have reason to believe that the Group will once again emerge from the crisis with a strengthened market position.
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