ARTICLES LABELLED WITH TAG Poland

Globalworth Poland (GPRE) announced the acquisition of Warta Tower, a modern office tower in the City Centre West district of Warsaw for a consideration of €55 million.

Warsaw, Poland’s capital and largest city, has a population of more than 1.75 million. It is also the country’s biggest labour market and home to many university-level schools with a strong R&D sector. It boasts a relatively low unemployment rate which stood at 5.6% at year-end 2017 and the highest gross monthly salary averaging €1,300 (PLN 5,432). Warsaw is growing at a rapid pace, combining modernity with history, new business districts with green areas, the latter accounting for 28% of the city’s total area in 2017, and investing in both public transport and alternative means of transport (including 400 km of cycle lanes as at the end of 2017). Cushman & Wakefield has launched its latest report Warsaw 2020 on Warsaw’s future and major developments transforming the city’s skyline

The retail consultancy department of BNP Paribas Real Estate Poland, extends its competences and offers with a fully comprehensive platform RAM (Retail Active Management). It will support retailers, developers, investors and managers. The scope of activities of the new department that focuses on strategic consultancy, will be led by Fabrice Paumelle.

Skanska invests €41 million in the first phase of a new office development in Gdansk, Poland. The first phase of the project will be 14 stories high with a total leasable area of about 23,300 square meters and two levels of underground parking.

Up to 500,000 sqm of office space was leased in 2017 by companies from the business services sector. The positive trend should continue in 2018. According to the estimates by ABSL, 50 new centres will likely open in the upcoming months, which will, in turn, lead to high demand for office space. JLL analysed the activity of companies from the business services sector in Poland in 2017.

In 2017, Tricity’s office space absorption hit a record high of 79,400 sqm, compared to the five-year average of more than 58,000 sqm. Leasing conditions in the region hold stable, says tenant-only real estate advisory firm Cresa.

London ranked as Europe's most attractive city for businesses and employees for second year running, according to Colliers International's latest European Cities of Influence report, which reviews and ranks cities based on their occupier attractiveness, availability of talent, and quality of life factors alongside economic output and productivity; Paris, Madrid, Moscow and Birmingham making up the rest of the top five.

One of the fastest growing co-working chains has announced its entry into the Czech market. Business Link, hosted by Skanska, will open its first location in Prague in July of this year. At the Visionary office building located in Prague 7, the company will offer around 4,700 sqm of co-working space, including space for approx. 100 people, 159 private offices, and five conference rooms.

EPP published its financial results for the full-year of 2017. During the period, the distributable income was at €76.6 million, exceeding the forecasts. At the same time, the company kept building its strong presence in Poland’s key cities, while EPP-owned properties enjoyed growing footfall and increasing sales. The value of asset portfolio rose by 29%, to €1.95 billion.

According to “Occupier Economics: Office Market in Wrocław in 2017”, a report prepared by Cresa, last year’s office supply in Wrocław was the lowest in six years while occupier demand remained robust. The city’s office take-up hit 174,500 sqm, which represented a 40% increase compared with 2016.