ARTICLES LABELLED WITH TAG Poland

Average office occupancy rates across eight major European markets have risen in the last six months from 55% to 57%, says Savills, however on Tuesdays and Wednesdays, the average is 64% and 62% respectively, closer to the pre-pandemic rate of circa. 70%.

According to Cushman & Wakefield’s latest report, the Polish hotel market is seeing a steady increase in demand and key performance indicators. These positive trends are expected to continue into 2024, with a recovery in the number of international guest nights in Polish hotels. In the long term, the market will increasingly focus on hotel retrofitting and implementing modern technological and ESG solutions.

Karimpol Polska has chosen Warbud S.A. as the general contractor for its investment. One of Poland‘s largest construction companies will deliver the Skyliner II project. Construction of the second phase of the office complex at Daszyńskiego Roundabout in Warsaw will start in February 2024 and will take 34 months. The 28-storey Skyliner II will be 130 metres high.

Hospitality group Accor plans to open more than 90 hotels across Europe, Middle East and Asia during 2024, of which four will be based in CEE markets.

Advisory agency Walter Herz is expanding the scope of consulting services and branching out with a new business line - Walter Herz Invest. The entity is responsible for purchasing and securing real estate and land for the construction of projects in the commercial, warehouse and residential sectors.

Savills has been appointed as property manager for the Lakeside office complex, developed by Atenor in Warsaw’s Mokotów district.

Panattoni is expanding its portfolio of locations in the Kraków region. In Niepołomice, the developer has commenced construction of Panattoni Park Kraków East IV, which will be completed in May 2024. Omega Pilzno - a Polish logistics operator - has already leased the entire space.

The decline in investment volume, which has been recorded this year in all sectors of the commercial real estate market in Poland, is particularly visible in the office segment. Despite the relative recovery that was observed at the end of the summer, the total value of the transaction volume recorded in Q1-Q3 2023, amounted to only ca. €1.7 billion, with merely ca. €267 million allocated in office assets. However, in this time of slowdown, there is also room for success. Avison Young's investment team can boast of approximately one-third of completed transactions in this sector - both in terms of volume and number of transactions.

CTP has started construction on three new business parks in Poland totalling more than 215,000 sqm of leasable space. The new parks in Łódź, Częstochowa and Bydgoszcz reflect CTP’s entry into new regional markets in Poland.

Panattoni has received its second loan from Alior Bank. This time, the developer was granted financing of almost €6.5 million to build a BTS project for Air Spiralo – a manufacturer of ventilation systems.