According to Savills, development activity has cooled dramatically in the Warsaw office market. There is currently close to 230,000 sqm under construction, of which just over 115,000 sqm is scheduled for completion in 2023–2024.

Since the beginning of the year, five companies have decided to lease a total of 10,000 sqm of office space in Warsaw Spire C, which is almost half of the building. The majority of contracts are renewals of existing leases, two contracts were concluded as green leases. The occupancy rate in Warsaw Spire C is currently over 96%.

Błażej Czwarnok and Marcin Muszel, Partners in the Real Estate Practice at Gide Loyrette Nouel spoke with Property Forum about the PRS market, economic turbulence caused by the war in Ukraine and legislative changes coming to the Polish real estate sector.

Piotr Szafarz, Partner, Head of Real Estate in Poland and CEE, Dentons talked to Property Forum about the forecasts for the PRS market in Poland, the impact of the war in Ukraine on the European properties and the expected changes in financing conditions.

The Polish Chamber of Commercial Real Estate (PINK) has published figures summarizing office market in eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin) for Q3 2022. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on existing modern office stock, new completions, take-up volumes and vacancy rates.

Panattoni starts another record-breaking investment, valued at €161 million (about PLN 770 million). The developer purchased nearly 45 hectares of land in October this year. Panattoni Park Katowice Airport will begin construction in the coming months, eventually reaching an area of 216,270 sqm. The investment will be built in the vicinity of the international airport, and the A1 and S1 routes. 

Japanese clothing chain UNIQLO has opened its store in Domy Towarowe Wars Sawa Junior in Warsaw. The two-storey store has been inaugurated on October 27.

Paulina Brzeszkiewicz-Kuczyńska, Research and Data Manager at Avison Young Poland presented the current state of the Polish property investment market. 

Demolition works are now beginning on the site of the City Point Targówek redevelopment project in Warsaw. The existing buildings will be removed and replaced with a multi-tenant logistics complex. Once completed, the park will offer nearly 100,000 sqm of modern warehousing and office space. The first completed buildings will be delivered to tenants in the third quarter of 2023.

Panattoni has completed another development in Lower Silesia in Poland. On October 25th in Głogów, the opening ceremony took place for a development for FM Logistic. The logistics operator is now to serve the e-commerce operations of Maxi Zoo, a leading pet store chain owned by the Fressnapf Group.