Are you ready for us?

When Eurobuild heard that AM Development, hitherto unknown in Poland, expressed its desire to expand operations in Central Europe and to open an office in Warsaw, we were naturally curious. Who was this company and why did they think that they'd be able to successfully enter a market which was already well established? A different kind of philosophy AM Development is one of three operating groups belonging to AM NV a Dutch holding company. It is a developer of city centres, shopping centres, and office projects on a European level. The AM group recorded turnover of Euro 1.13 billion in the financial year 2003 with an operating margin of 10.7 pct. Recently it has stated that it wishes to grab more of the market for retail centres, particularly in Central Europe. Indeed retail represented 43 pct of its turnover in 2003 compared with 22 pct the previous year. Eurobuild met Nico Veldhuis, AM Developments' manager for Poland. At the moment