ARTICLES LABELLED WITH TAG Poland

The European Investment Bank (EIB) has signed a €60 million loan agreement with ArtN Sp. z o.o., a subsidiary of Capital Park S.A., for a flagship project to revitalise the former Norblin factory site in central Warsaw. This is the first EIB transaction in Poland with a real estate investor under a project financing scheme.

The expected reduction in construction activity in 2019 indicates the maturity of the traditional retail format market. New opportunities for owners and tenants come in the form of mixed-use projects and omni-channel retailing. JLL summarised the Polish retail market in 2018.

2018 was an all-time record year for the real estate investment market in Poland with more than 100 transactions completed with a total volume of over €7.2 billion, reflecting an impressive nearly 45% growth year-on-year, according to Savills.

In early October 2018, Cushman & Wakefield was appointed a property manager for Proximo II, an office building in Warsaw. The owner of the complex is ČS nemovitostní fond, the largest open-ended Czech investment fund managed by REICO.

Neinver has taken over the management of Silesia Outlet located in Silesia, Poland. The outlet centre currently being developed is scheduled to open this spring in the city of Gliwice. The investor of the facility is 6B47, one of the leading developers in the German-speaking countries. Neinver will be responsible for management, marketing and leasing.

Służewiec, a district in Warsaw and one of the largest and most prominent business districts in Poland, currently offers nearly 1.1 million sqm of modern office space. According to recent estimates, there is approx. 87,000 office personnel employed in the area. As the needs of staff and residents of the city change, there is a groundswell of opinion suggesting that this part of Warsaw needs a new strategy and a fresh action plan. What activities would contribute to the improved functioning and more favorable perception of this district as well as maintaining its attractiveness as a key business hub?

From the beginning of January, Knight Frank has been appointed a property manager of the Kliwer office building located in Mokotow in Warsaw. Currently, the property is fully rented.

Golub GetHouse and Mennica Polska S.A. obtained financing for subsequent stages of the construction of Mennica Legacy Tower in Warsaw. More than €130 million of construction credit was granted by a consortium of three banks.

In 2018, the Polish industrial market was driven by e-commerce which, in addition to generating strong take-up levels, reported new requirements regarding warehouse location and technical specifications, says Tom Listowski, Partner, Head of Industrial and Warehouse, CEE at Cresa.

Erik Drukker, who previously served as the Managing Director, Agency & Valuation, Central & Eastern Europe, has become a Member of the Board at the Polish and Czech entities of BNP Paribas Real Estate. He took his new post at the turn of November and December.