Is Verity building?
22 real estates in Wrocław, 31 real estates and over 105 million of euro invested in Poland during 4-year-long activity on the Polish market – these are only a few facts known about Verity Development. When will the intended projects see tenants moving in?
Verity Development employs total of 80 men in Poland and owns prestigiously located plots in Wrocław, Cracow, Łódź, Poznań, Warsaw and Tricity. However it is often accused that nothing is really happening on the plots it owns.
'Currently the company runs 4 projects and we are waiting for a building permit for 3 other projects, another 3 are already at the sale stage. Still in the summer, we will render for use Verity Rosa residential complex located in Grabiszynek district – says Maria Falkiewicz, sale specialist in Verity Development – owing to great organizational skills we will render this complex even earlier than planned'.
The most interesting project in progress is probably Heritage Gates – unique tenement house with commercial function located near the Market Square and multi-purpose Verity UpTown on Drobnera street which will commence at the break of July and August. This project is currently at the sale stage. The company is also choosing the general contractor of the Verity Business Center project which will be built by Legnicka street. Construction works will begin in July, 2009.
The period from purchasing to completion of construction works usually takes approximately 39 months. The process includes building permit proceedings (approvals of inter alia the monument preservation officer who supervises all monuments of architecture located in the very city center), choice of the general contractor and preparatory works. Supervision and control over the architectural works is also time-consuming. ‘Verity Development follows particular project management procedures’, sums up Maciej Czemplik, architect from the project management department of Verity Development.
Recently many development companies have suspended their projects and hope for changes on the market. The plots which are awaiting construction and which have been already fenced, are waiting longer for commencement of construction works. If Verity Development realizes its nearest plans, it may become the most active development company on the market.