ARTICLES LABELLED WITH TAG JLL

In terms of tenant activity, the major regional markets can speak of a better H1 than a year ago. Despite the expected slowdown, some companies continue to expand their business. JLL summarised the situation on the Polish office market at the end of H1 2020.

JLL and LaSalle have published the latest edition of the Global Real Estate Transparency Index – GRETI. As emphasized by the authors of the report, although there is a greater emphasis on corporate social responsibility and the use of new technologies, we are currently facing the slowest rate of transparency improvement since the period directly following the Global Financial Crisis.

Total office market demand reached 335,000 sqm in H1 2020 on the Warsaw office market. In fact, demand for office space in Q2 was significantly higher than in Q1. Vacancy rates across Warsaw increased slightly by 0.1 p.p., with 770,000 sqm under construction. JLL summarised the Warsaw office market in H1 2020.

The drop in footfall numbers in the majority of shopping centres combined with a drop in turnover, as well as ongoing talks between tenants and shopping centre owners have caused a slowdown or even temporary suspension of development plans of some retail chains, especially those in the fashion sector. JLL summarised conditions on Poland's retail market at the end of H1 2020.

Poland’s real estate investment volume for the first half of 2020 has reached €2.9 billion which is the second-best H1 result in history. €710 million was invested in offices alone during the “pandemic quarter” with the industrial sector registering its best-ever H1 result. JLL analysed H1 2020 real estate investment transactions in Poland.  

Spanish investment fund Danube Property, which acquired four office buildings in Bucharest prior to the 2008 crisis, plans to sell its last asset on the Romanian market, after selling another one during the state of emergency, profit.ro reports.

After the Polish government announced a major reopening of the retail economy last month, outlets are seeing more than 80% of footfall on average, with convenience centres attracting between 90% to 100% clients as compared to the previous year. Such positive results are due to the fact that these types of centres are shopping destinations in their own right but only offer a limited number of options for spending free time. However, this paradoxically is now working in favour of outlet centres and convenience centres.

JLL has advised Rosti Romania, owned by the Swedish company Rosti Group AB, in the lease of 11,300 sqm industrial spaces in Paulesti, near Ploiesti, developed and rented out by WDP. The construction of the new production facility, announced by Rosti at the end of last year, has already started and the delivery date is set for 2021.

Gross demand in Q1 2020 was almost 950,000 sqm with new deals and expansions dominating the market. New space delivered in the first quarter of 2020 totalled 440,000 sqm. JLL summarised the situation on the Polish industrial market at the end of Q1 2020.

Profi, one of the largest retail chains in Romania, expands its logistic activities by contracting two new projects in Timisoara (58,000 sqm) and Craiova (57,000 sqm), which will be developed and rented out by Belgian logistics developer WDP. JLL has advised Profi in both transactions, thus continuing the partnership started few years ago, which resulted in 250,000 sqm of logistics space contracted in Bucharest, Roman, Cluj, Craiova and Timisoara.