ARTICLES LABELLED WITH TAG Poland

Globalworth confirmed the completion of the delisting of its Polish subsidiary, Globalworth Poland Real Estate N.V. from the Warsaw Stock Exchange with effect from 29 September 2019.  With the company's shareholding in GPRE having reached 99.92%, the remaining shares in GPRE will now be acquired through a mandatory acquisition, thereby completing this process.

Panattoni Europe expands its portfolio in the Kuyavia-Pomerania region. The cornerstone has been laid under Panattoni Park Toruń II with planned space of 57,500 sqm. The two-building complex is being built in the north-eastern part of Toruń and has already secured its first tenant – a logistics operator, set to take up 5,000 sqm. Stage one of the investment process – a hall featuring close to 16,500 sqm – will be completed by next March.

Cushman & Wakefield has been appointed an exclusive commercialisation agent for the Bawełnianka Shopping Centre in Bełchatów. The owner of the scheme is Krakow-based Gbb Invest Spółka z o.o.

Radisson Hotel Group announced an agreement with Polish hotel investor Europlan for a new Radisson Blu resort in Poland. Located in Mazury Lakes, the Radisson Blu Resort, Ostroda Mazury Lakes will have its own marina and water park. The new property brings the group´s portfolio in Poland to 19 properties across five brands – including Radisson Collection, Radisson Blu, Radisson RED, Radisson and Park Inn by Radisson – and will strengthen the group´s position as the largest international operator for leisure destinations in Poland.

Hines Global Income Trust has acquired a logistics property in Łódź. The property is a Class A facility designed for storage and light production and will be managed by Hines Polska. Along with its acquisition in Gdansk earlier this month, this acquisition represents Hines Global’s second Polish logistics facility.

Kraków is continuing its good run as Poland's second largest office market. During the first six months, lease contracts for nearly 135,000 sqm were signed in Kraków which equates to 44% of demand for modern office space outside Warsaw. The most notable transactions in H1 2019 signed both in Kraków and in the largest regional markets in Poland were a record pre-let by UBS for 19,600 sqm in Fabryczna Office Park, a pre-let by Sabre for almost 16,000 sqm in the Tischnera Office, and an 11,200 sqm renewal by Akamai in the Vinci Office Building.

Cushman & Wakefield has been appointed as the exclusive agent to commercialise extra space available following the downsizing of its big-box hypermarkets to a smaller compact hypermarket format.

Hines Global Income Trust has acquired a modern logistics park with an area of over 30,000 square meters near Gdańsk. The property purchased on 24 September 2019 from the investment platform The SEGRO European Logistics Partnership (SELP) will be managed by Hines Polska.

JLL will be responsible for leasing commercial space in Airport City Gdańsk. Construction of the complex, whose usable area will ultimately total approximately 120,000 sqm, will start at the end of this year.

The value of output generated by the Polish construction industry has reached an all-time high level on the back of several years’ investment upturn and it is expected to come close to €59 billion (PLN 250 billion) in 2020. In nominal terms, the market’s value is impressive, but it is less so when one looks at the volumes of construction work being performed and building materials used. A noteworthy fact is that the growth in the market’s value is boosted by rising prices of building materials and higher labour costs.