1.16 million sqm of modern office stock, demand hitting 77,200 sqm and 300,000 sqm of space under construction – this is the current situation on the office market in Kraków at the end of H1 2018. The market has grown nearly fourfold in the last decade, according to JLL.

Krakow retains the crown as Poland’s largest regional office market as it saw its office stock rise by 17% in the past year to 1.16 million sqm, says real estate advisory firm Cresa in its latest report.

Cresa, the world’s largest tenant-only commercial real estate firm, has opened an office in Krakow. Cresa already has five offices across Poland: in Warsaw, Wrocław, Tricity, Łódź and Krakow. Its Krakow office is located in High5ive.

BNP Paribas Real Estate Poland represented First Property in the successful acquisition of Krakow Business Park (KBP).

International Campus and Alkyon Partners GmbH are developing an apartment building for students and young professionals in Kraków, which will be operated by International Campus under the brand "THE FIZZ". Located on the science and technology campus in the up-and-coming, centrally located Zablochie neighbourhood, the apartment building will have approximately 1,000 apartments. In addition, "THE FIZZ Krakow" will include extensive communal areas, 88 underground parking and 33 outdoor parking spaces for cars as well as approximately 970 bicycle parking spaces.

Globalworth announced the closing of the acquisition of Quattro Business Park in Kraków by Globalworth Poland.

First Property Group buys acquired the principal operating companies owning the majority of properties situated in Kraków Business Park (KBP).

Globalworth Poland Real Estate has agreed on terms and is conditionally proceeding with the acquisition of Quattro Business Park in Krakow, Poland.

Cushman & Wakefield has been appointed an exclusive agent for the commercialisation of Fabryczna Office Park under a cooperation agreement signed with the INTER-BUD Group.

Union Investment has acquired the Park Inn by Radisson Krakow, which opened in 2009. The transfer of rights and obligations with regard to the property is scheduled to take place by the end of May 2018. The 152-room hotel is located south of the Vistula river, close to the city centre and in the immediate vicinity of the modern ICE Congress Centre, where around 200 events are held every year. The vendor is a joint venture between subsidiaries of UBM Development AG and Lindorcenia Ltd. The Radisson Hotel Group manages the hotel and provides the brand name. The hotel is let on a long-term lease. The purchase price is approximately €26 million. Union Investment is acquiring the property for an institutional real estate fund.