MLP Group recorded its strongest leasing performance to date in 2024. Over the year, the group leased a total of approximately 305,000 sqm of space, including 225,000 sqm under new contracts – an 82% increase year on year. During this period, MLP Group secured 22 new clients, while 20% of total leasing activity came from existing tenants.
The fourth quarter of 2024 was particularly strong, with the group signing a record 95,000 sqm in leases with new tenants – nearly double the volume reported in the same period of 2023. This unprecedented leasing momentum contributed to a significant reduction in the Group’s vacancy rate to just 5% (down from 8%), well below the market average of approximately 8%.
“Both the final quarter and the full year were record-breaking for us, even though we do not chase volume for its own sake. As a developer, we remain focused on expanding exclusively in core locations across Europe, ensuring long-term and sustainable growth and business security. We do not engage in opportunistic projects outside our strategic markets. This approach has allowed us to achieve record leasing performance while also significantly extending the average lease term to 8 years – a testament to the successful execution of our growth strategy”, said Agnieszka Góźdź, Member of the Management Board and Chief Development Officer at MLP Group S.A.
Leasing activity was primarily concentrated in MLP Group’s logistics parks located in the “Big Five” markets. The leased spaces ranged from 1,000 sqm to nearly 25,000 sqm, with the average transaction size exceeding 7,000 sqm.
“We will continue focusing on expansion in major metropolitan areas, which remains our strategic priority. At the turn of the year, we launched projects totalling over 300,000 sqm in leasable space, of which approximately 30% has already been pre-leased, with an average lease term of 10 years. This significantly increases the likelihood of achieving full commercialization before construction is completed,” added Agnieszka Góźdź.
