Real estate advisory firm Savills estimates that the prices of building materials for new commercial real estate construction in Poland increased by close to 30% in the past 12 months and expects demand for technical consultancy to grow. The Building & Project Consultancy team of Savills Poland has summarised its activity in 2021, a year in which it completed close to 60 projects for commercial properties with a combined area of 1.5 million sq m and almost doubled its headcount.

Office Warsaw faces major challenges: deteriorating macroeconomic indicators, rising construction and utility costs, and upward pressure on rents and service charges. In addition, there are delays resulting from broken supply chains, the spectre of a supply gap and a strong reshuffling in the demand structure. On the other hand, the capital city market reports a quarterly record in lease agreements signed and attracts an IT giant that buys one of the newest office-mixed use complexes; all this is according to the summary of the first quarter in the Warsaw office market prepared by BNP Paribas Real Estate Poland experts.

The latest report from research firm Spectis indicates that following a strong start to the year, the outlook for the construction sector over the coming months of 2022 is now less bright. The expected slowdown can be indirectly caused by the ongoing war in Ukraine, which only aggravates the problems the market has been facing previously, such as soaring prices of raw materials, building materials, and energy sources or the shortage of labour.

7R has built a BTS format warehouse in Goleniów for FIEGE, a European logistics operator. From the end of March FIEGE runs in Goleniów an international distribution centre, on an area of nearly 62,500 sqm, for a well-known global e-commerce giant.

Strong, self-reliant economic centres are emerging amid ongoing supply chain disruptions and competition for natural resources. Europe is expanding its manufacturing and warehouse base, while Poland, with its skilled labour, lower labour costs than in the West and its mature and buoyant industrial and warehouse market, will be one of the key beneficiaries of these changes, says Piotr Kaszyński, Managing Partner, Newmark Polska, in an interview with Property Forum.

Panattoni is developing another complex in the Kraków region – Panattoni Park Kraków North, with an area of ​​55,000 sqm. The first tenant has already been secured for the park: Trivium Packaging – a global manufacturer of metal packaging, which will transfer its existing chemical packaging operations to its new ​​21,000 sqm premises at the beginning of 2023. Panattoni has now developed approaching 200,000 sqm of industrial space in the Kraków region.

Griffin Capital Partners has announced two senior executive promotions as the company continues to grow its presence in the private equity and real estate markets in Central and Eastern Europe. Piotr Fijołek and Tomasz Mrowczyk, currently Senior Partners, have been promoted to the positions of Co-Managing Partners. The position is new in the structure and has been created especially to appreciate the contribution of the two managers to the growth of the company.

Sierra Balmain has been appointed by Stage Capital to provide property management and leasing services for three shopping centres in Poland: Galeria nad Jeziorem in Konin, Pasaż Łódzki in Łódź and CH Osowa in Gdańsk. The agreements include all aspects related to the management of each location, including, operational management, property-related finance matters, lease management, leasing and marketing. These three mandates add to a successful management partnership with Stage Capital, which already included Centrum Galardia in Starachowice.

Atrium European Real Estate, the owner of the Wars Sawa Junior buildings and the operator of Pasaż Wiecha, has appointed award-winning architectural design and engineering firm Foster + Partners to look into this central location in Warsaw. The practice experienced in large scale urban regeneration projects is to conceptualize the possible directions of use of this emblematic scheme, that would facilitate upgrading it into a future-proof part of the multifunctional city center. The partnership demonstrates a 2030+ vision to responsibly realign public realm with the New Center of Warsaw municipal masterplan and form meaningful pedestrian connections with anticipated Museum of Modern Art and Plac Centralny, Chmielna street and tourist city walk toward Nowy Świat and Old Town.

Heimstaden subsidiary Heimstaden Bostad AB is buying the 400-apartment residential project Aurora in Warsaw from development company Dantex. The transaction is structured as a turnkey forward funded acquisition, where Heimstaden Bostad does not carry any direct development risk. Completion is scheduled for mid-2024.