ARTICLES LABELLED WITH TAG JLL

CPI Property Group signed framework agreements with advisory company JLL for comprehensive project management services in 13 office buildings in Warsaw. The total GLA that the cooperation encompasses is approximately 320,000 sqm. The JLL Project & Development Services team will be responsible for the implementation.

Although the Polish retail market is still struggling with the effects of the COVID-19 pandemic, forecasts for the sector are more optimistic than for the rest of Europe. According to Oxford Economics, retail sales in Poland are expected to grow by 4.9% per annum until 2023, which would put Poland in a leading position in Europe. 2021 is expected to see approximately 209,000 sqm of GLA solely in retail parks come onto the market, meaning that 2021 would be a record breaking year for retail parks in terms of space delivered to the market. JLL and Trei Real Estate Poland, the authors of the 2nd edition of the "Retail parks and convenience centers in Poland" report, summarize the market regarding these projects at the end of H1 2021, and outline the development prospects for this sector in Poland.

The BSS sector is driving growth in Polish cities and dominates the regional office landscape. Companies from this sector account for more than half of leased space outside of Warsaw. The first half of 2021 saw companies from the modern business services sector (BSS) lease nearly 210,000 sqm of office space in Poland. This is more than 40% of the total demand registered in the country’s major markets. Excluding Warsaw, BSS companies accounted for as much as 60% of office demand

Demand for warehouses at 3.15 million sqm and new supply at 1.14 million sqm set new H1 records for the industrial market. Poland registers Europe’s second-highest developer activity with over three million sqm under construction. JLL summarised Poland’s industrial market for H1 2021.

Zeitraum, an international operator of student housing schemes, has just taken over the management of its first dormitory in Poland as Zeitgeist Asset Management, an investor operating on the Polish market for several years, finalised the purchase of a privately-run student hall located in Kraków from NNS. The asset is located at 33 Koszykarska Street and has been operating under the Unibase brand for three years. It can accommodate 345 people in 157 rooms. The first students will move into the building in September. JLL experts supported the investor in the purchase of the asset.

JLL was appointed an exclusive leasing agent for the Focus office building in Warsaw.

According to JLL data, the primary market in Poland's largest markets continued its record-breaking performance with 19,500 units sold in the second quarter of this year, resulting in the market’s best H1 result ever.  

Tenants on the office market are cautiously optimistic as demand for offices outside Warsaw grows. Advisory company JLL summarizes the situation on the Polish office market in H1 2021.

The 75% occupancy limit does not mean working at full capacity, but the recovery of the hotel market is driven by the return of holiday travel and stronger demand for hospitality services. Although the industry is facing a number of challenges, hotel owners hold onto their assets, they are reluctant to sell at a discount, believing that business will return to pre-pandemic levels. JLL summarizes the current situation on the Polish hotel market.

The lowest amount of office space under construction in Warsaw since 2010 may point to a supply gap in 2023, according to JLL’s market summary for H1 2021.