Michał Okoń, Managing Director of Zeitgeist Asset Management in Poland talked to Property Forum about the forecasts for the PRS market in Poland, subscription services and the impact of the pandemic on the rented apartment segment.
HB Reavis has delivered the campus-style buildings of Forest, a project focused on incorporating natural elements and greenery into the urban scape of Poland's capital. Along with it, the company topped out the 120-metre-tall Forest tower.
Residential developers operating in Poland's largest markets broke the quarterly sales record set in 2017. Sales of new apartments reached 19,500 and were up 40% q-o-q. Continued demand oversupply is pushing prices up further.
Over the year, since the COVID-19 pandemic arrived in Poland, the Warsaw office market has seen a marked decrease in occupier demand and office stock under construction amid rising vacancy rates. Although the past 12 months have been challenging for the office sector, companies are no less keen to have an office of their own, says real estate advisory firm Savills.
Panattoni Europe has obtained an ‘Excellent’ rating under the BREEAM International New Construction system for Panattoni Park Sosnowiec I. This is the first time such a high certification level has been achieved on the Polish industrial real estate market for a newly built project.
After a year from the beginning of the pandemic, investors are continuing their strategies adjusted to the new market conditions. Most of them are focusing mainly on safe, predictable investments. This year Avison Young has observed the third-best opening ever with almost €1.3 billion transacted in 31 deals during the first quarter of 2021.
The Q1 2021 results of the RICS Global Commercial Property Monitor indicate a slightly less negative market sentiment across Europe compared to the previous quarter. Rental growth expectations remain negative within the office and retail sectors across all European nations covered, while the outlook for industrial markets has never been more positive.
Growthpoint Properties Limited, the European Bank for Reconstruction and Development and Oak Hill Advisors responded to the unilateral announcement by CPI Property Group and Aroundtown of a firm intention to make a cash offer for the share capital of Globalworth.
Industrial developer Contera has concluded a contract with Pilsner Urquell for warehouse space measuring 3,676 sqm at Contera Park D1 in Ostrava-Hrušov.
108 Agency has helped secure the lease of 1,600 sqm of industrial space to comic book publishing house Seqoy in Panattoni Park Prague Airport II.
M7 Real Estate has announced that it has let a total of 1,605 sqm in Mokotów Plaza to three existing tenants (KDI, Rockwool and Telepizza) under new leases, maintaining the office building as their Polish headquarters. The office now has an occupancy of 81% with an average unexpired lease term of over 7 years.
Jan Kamoji-Czapiński has joined Colliers' EMEA Location Strategy department, which was launched earlier this year. Jan took up the position of Associate Director and will be responsible for, among others, supporting companies in the development and implementation of location strategies.
Prologis Hungary has appointed Adrián Nagy as Facility Manager. Adrián gained a wealth of experience in the real estate, technical and construction sectors while working for BIS Hungary Kft. At Prologis, he is taking on management responsibilities and will report directly to Szilvia Andrelli, Senior Manager for Real Estate & Customer Experience.
Gábor Gratzl has reinforced the WING team as Business Development and Transaction Manager since February 2021. Prior to his current position, he worked as a senior investment advisor for the CBRE Hungary Capital Markets Consulting team for more than five years.
Property Forum is a leading event hub in the CEE real estate industry with nearly 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Budapest, Bucharest, Bratislava and Prague, amongst other locations.