To snare a PUMa

The current boom in residential real estate is leading local developers to accept greater risks in buying land not covered by either local master plans or valid outline planning decisions. Property lawyers have a handful of mechanisms available to protect developers in such situationsThe growing demand for apartments in Warsaw and other metropolitan areas, coupled with a limited supply of attractive properties covered by valid local master plans, is causing an increase in the tendency among developers to purchase land in advance of acquiring the necessary outline planning decision (WZiZT). It is not only important for the developer to confirm whether it is legally possible to locate a residential development on a given lot, but also, and even more importantly, to determine the total usable area (PUM) of such a development. The PUM sets the price a developer is willing to pay for a plot of land, together with the project\\\'s potential profitability. When a queue of interested investors