According to a report published by BNP Paribas Real Estate Poland, around 715,000 sqm of modern office space was under construction within Poland’s eight largest markets at the end of 2021. Experts also note the further strengthening of the hybrid work model, the increasing popularity of various forms of flexible office working, and the growing importance of ESG solutions. An important factor shaping the market in the nearest future will be the rising costs of living, which will ultimately mean higher base rents and increased service charges.

Patrizia has divested a portfolio of three Warsaw offices totalling c. 15,400 sqm to VIG FUND a.s., a real estate vehicle of Vienna Insurance Group - one of the largest international insurance groups in Central and Eastern Europe. The price remains undisclosed.

A furniture manufacturer is settling into the MLP Poznań West logistics centre. MLP Group is to develop over 26,000 sqm for the tenant. The client was assisted by a team of specialists of the leading commercial real estate consultancy JLL during the transaction.

ITRA Global announced it has launched its operations in Poland and opened an office in Warsaw. The new company, International Tenant Representation Polska, will exclusively represent tenants in the office, industrial and retail market. The firm will be led by Artur Sutor.

More companies from the medical industry have decided to establish part of their operations in 7R City Park Warsaw Airport III, which is under construction in Osmańska Street in Warsaw. ITP S.A. and Stryker will move into the facility at the end of the year, and Komtur will join them in early 2023. Earlier, Polfa Warszawa announced the launch of its research and development centre in the 7R warehouse located on Osmańska Street.

Over €5.7 billion - this is how much investors spent on commercial real estate in Poland throughout 2021, of which in the last quarter alone, the amount attained over €2.2 billion. The latest report prepared by BNP Paribas Real Estate Poland indicates that the past year was marked by a further strengthening of the logistics and industrial sector, making up for losses by retail and the continued battle against Covid's shortage of breath in the office sector.

Cloud content management company Box has leased almost 16,000 sqm of office space in Varso Tower in Warsaw.

Savills, together with Eastdil Secured, has advised Macquarie Capital Principal Finance and Elite Partners Capital on the sale of a pan-European logistics portfolio, Elite Logistics Fund I to Blackstone European Property Income Fund (BEPIF) for €520 million.

In 2021, commercial property investment volumes in CEE continued to trend upwards, increasing 6.9% on 2020. However, they still remained 15% below the five-year rolling average. Industrial and office investment activity predominated, and we saw notable evidence of price improvements with yield compression in all segments, but especially in the industrial sector, where the price growth was almost 20%. Cushman & Wakefield has summarized the 2021 investment activity in the CEE commercial real estate market.

Savills Investment Management, the international real estate investment manager, transacted more than €3.4 billion globally in 2021, including c. €2.6 billion in Europe and c. €670 million in Asia. Globally, transactions included around €2.1 billion of acquisitions and around €1.2 billion of disposals, resulting in a net investment of c. €900 million. The firm now manages approximately €24.8 billion in assets under management (AuM) as of September 2021