⚠ Permitting & Regulatory DragModerate threat

A developer's ability to turn land into sellable apartments runs at the pace the Polish permitting system allows, and that pace is slow, opaque, and prone to getting slower. Zoning decisions, environmental reviews, and construction permits can stretch for years — it is why Dom carries land for some 18 800 apartments, a bank deep enough to outwait approvals that cannot be hurried¹ — and changes in national or municipal housing policy — new environmental rules, restrictions on where and how densely one may build, shifting local politics — can freeze projects or strand land the company has already paid for. Scale and experience help Dom navigate this maze better than a small builder, but they do not exempt it: the state holds the keys to the pipeline, and a regulatory tightening or a hostile shift in housing politics is a risk no developer can hedge, only endure.