Aleksandra Gawrońska, Director, Head of Residential Research at JLL Poland talked to Property Forum about the current recovery of the Polish residential market, the stance of banks financing new investments and the possible scenarios for the nearest future.

The upcoming launch of the first hotel in Poland for the Barceló chain, operating under the brand name Barceló Hotels & Resorts, marks the final phase of investment for the Elektrownia Powiśle complex in Warsaw. It represents the completion of all planned construction work for the revitalization of the former power station site, which was conducted by Tristan Capital Partners’ EPISO 4 Fund and White Star Real Estate.

New office supply in the first three months of 2023 totalled 68,100 sqm and was delivered in three cities only: Kraków, Wrocław and Tricity. According to Savills, at the end of March, over 1 million sqm of office space was vacant, equating to an average vacancy rate of close to 16%.

BNY Mellon, an international company from the banking and finance sector, has leased all office space in the second phase of Skanska’s Centrum Południe complex located in Wrocław. The tenant’s employees will occupy approx. 20,300 sqm of office space. The opening of the new office is scheduled for April 2024. This is the largest lease transaction in Wrocław since 2020.

JLL Poland has been selected as the exclusive agent responsible for the commercialization process of the Unity Centre complex, the largest business complex in Kraków. The project is owned by UNIQA Real Estate Management and GD&K Group.

Flexible workspaces are going like hotcakes in Poland and companies are enquiring about them in all large cities, but not only there. Serviced offices are also in demand in smaller towns, says Nemwark Polska.

Antoine Mocachen and Stephane Rauber, Managing Partners of renewable energy producer Volta Polska have talked to Property Forum about the Polish market of ‘green energy’, the war-related energy crisis and their investment plans for the following quarters.

JLL Poland has been selected as the exclusive agent in charge of the commercialization process of the LIFE Building office building - formerly Atrium Tower, which belongs to the Vig Fund, a group company of Vienna Insurance Group AG Wiener Versicherung Gruppe.

According to a report published by Newmark Polska, during the first three months of 2023, occupier demand on Poland’s regional city office markets remained strong amid increasing office availability and a further drop of development activity. The markets continue to adapt to the new standard created by the rise of the hybrid working model and the growing focus on flexibility in office layouts and uses.

In the first quarter of 2023, developers focused on regional markets in Poland. Kraków, Wrocław, and Tri-City have been enriched with new office spaces. Meanwhile, no new office buildings were built in Warsaw. Current interest from tenants remains at a fairly high level. Demand recorded in Q1 2023 was distributed proportionally to the Warsaw market and regional cities. Tenants attach importance to ESG issues and the comfort of working from the office for their employees. The challenge facing the office sector is rising service charges. AXI IMMO presents data summarizing Q1 2023 on the office market.