ARTICLES LABELLED WITH TAG Poland

Members of Generation Z have been shaped by a number of social, economic and technological factors and developments taking place during their formative years. How do they differ from previous generations? What are the challenges associated with Zoomers’ entering the workforce? A new report by Cushman & Wakefield and Antal tried to answer these questions.

The Polish economy is already past the low point of the short-term economic activity downturn. However, the construction industry is not at this point yet as it responds to economic shocks after a certain time period. This is why the first half of 2021 will be marked by challenges. The market pins its hopes on the new EU financial envelope, but a tangible effect on the investment volume will not become apparent before H2 2021.

In the first half of the year, Poland ranked second in Europe for net leased warehouse space. Demand for warehouses is steady and further investments continue to be made on the market. A new 7R City Flex Last Mile Logistics project will be built at Graniczna Street in Wrocław. PIKA, a company which specializes in the outsourcing of document management, processing and distribution, has chosen 7R which will prepare a high-bay warehouse space adapted to the strict standards of document storage. The general contractor of the 7R City Flex Wrocław Airport facility is Atlas Ward Polska.

The amendment to the Construction Law in Poland came into force on 19 September. Changes include a division of project documentation, organization of the provisions which specify what works require a building permit, and legislation on unauthorized construction, and in the opinion of experts from JLL, ought to be of benefit to investors, developers and construction companies operating on the Polish market.

In the second quarter of 2020, Echo Investment generated a net profit of €2.3 million (PLN 10.4 million), which mainly resulted from the appreciation in the value of projects under construction and the handover of 222 apartments to buyers.

The condition of the Kraków office sector has been defined by successive records in recent years. It is the largest regional office market in Poland, the second city after Warsaw, which in 2017 crossed the one million sqm threshold, and the main location for BPO/SSC companies in Central and Eastern Europe. However, the global pandemic, which affected all segments of the economy, undoubtedly also affected the office sector. How? According to JLL’s latest report, in the first half of the year, demand for offices in Kraków was about 15% lower than H1 2019. In addition, the increase in remote working has prompted some employers to reorganize their offices.

Panattoni is to deliver a central warehouse in Łódź for school and nursery school supplies. Their distributor has leased 11,200 sqm in Panattoni Park Łódź West, which is currently under construction. The building is to be built in Konstantynów Łódzki, near two express roads 8 km from the international airport. It is the developer's first investment project on the western side of Łódź.

Knight Frank has been selected as the property manager of the building at Na Ostatnim Groszu Street, which is owned by Echo Investment. The office building with an area of over 21,000 square metres is the first stage constructed as part of the West 4 Business HUB office complex in Wrocław.

Panattoni has begun the construction of Panattoni Park Bydgoszcz III with a planned area of 43,000 sqm. The first tenant is Reconext, a company that services electronic equipment, and the size of the lease is 12,800 sqm. The building is to be constructed to BREEAM 'Very Good' certification standards, and solar panels are to be installed for the use of the tenant.

Madison International Realty has acquired a stake in the newly developed Chmielna 89 office building in Warsaw’s CBD from the Cavatina Group. The acquisition values the project at over €100 million. Chmielna 89 is fully let to Poland’s largest, PKO BP, on a ten-year lease.