Warimpex: No spec projects in Russia, but purchases elsewhere

Warimpex’s performance in Russia has negatively affected its financial results, so the company’s strategy is to continue starting projects there in order to generate some cash flow from the Russian market. As Franz Jurkowitsch, the president of the Warimpex’ board, explains, lease contracts in Russia tend to be signed in rubles – and this generates additional exchange rate risks for the developer. “What we have to admit is that even in this tough environment the re