2016 was marked by the wait for the Posnania shopping centre to open, with its 60,000 sqm of Gross Leasable Area (GLA). However, next year we will see the opening of as many as three buildings with an area of over 60,000 sqm of GLA: Galeria Północna in Warsaw, Wroclavia and Forum Gdańsk.

In 2016 the Romanian retail market was characterized by a high volume of delivered space and entry of new brands, which opened their first shops both in already existing shopping centers and in recently opened projects. Colliers International expects to see new names on the market, especially among Polish brands.

This more intense activity observed on the Hungarian industrial property market is fuelled by an increased number of leasing and sales transactions that resulted in the net absorption rate outpacing the new supply. From a development perspective the market is experiencing a new turn, as a number of speculative projects were initiated again, which was not the case for many years, as since the economic downturn, developers were almost exclusively focusing on build-to-suit type of projects.

Marvipol S.A. entered into a preliminary agreement for the sale of Prosta Tower office building in Warsaw. The buyer is an international fund. The seller was represented by Colliers International.

Celanese Hungary Ltd. is setting up its new 4,200 sqm headquarters in Promenade Gardens as of April 2018. The decision was made prior to the foundation stone being laid for the new office building on inner Váci út. The regional financial and logistics business service center of the international company found its new home on the 1st and 2nd floors of the modern, 4-tower building (in cores B, C and D).

Colliers International has launched its Workplace Solutions consultancy in the Czech Republic after having been met with success on other global markets for over 10 years.

Bulgaria heads the list of the top ten countries in terms of attractiveness to the automotive sector in Europe. This was revealed in the latest research by Colliers and Automotive Cluster Bulgaria, which took place during the second half of 2016.

Only two shopping centres will be completed in 2016 in the Czech Republic due to the slow-down of construction activity in response to the perceived market saturation. Colliers International has released its Q3 retail market report for the Czech Republic, which also states that there are signs of new entrant demand which do not match suitable space availability. 

Sii has leased over 3,400 sqm of space from Skanska in Poznań’s Maraton office building in order to design an office for both its current team and 200 new specialists who will be employed by the end of 2018. 

The Polish property market has long been the region’s frontrunner and it seems like that nothing can slow it down. In spite of all the fears of last year related to political instability and the Warsaw office market getting potentially overheated, investment volumes are up significantly and development activity is stronger than ever. Piotr Mirowski, Director of CEE Investment Services at Colliers International Poland talked to us about the country’s investment market.