1.16 million sqm of modern office stock, demand hitting 77,200 sqm and 300,000 sqm of space under construction – this is the current situation on the office market in Kraków at the end of H1 2018. The market has grown nearly fourfold in the last decade, according to JLL.

Hines, on behalf of the Hines Russia & Poland Fund (HRPF), has today announced the sale of the Proximo II office building for CS nemovitostní fond (CSNF), managed by REICO investment company of Česká spořitelna (REICO IS ČS).

HB Reavis received a building permit for a new office campus in Warsaw. Office buildings with open ground floors, a public square and green areas the size of two football pitches may be built at Burakowska 14, at the intersection of the districts of Wola, Śródmieście and Żoliborz.

Despite the anticipated large wave of new office supply, the Łódź market is well-balanced. Rents hold firm and tenants continue to target office buildings in the city centre.

The first half of 2018 on the Polish shopping centres market belonged to the biggest agglomerations. Over 172,000 sqm of new space was delivered, which constitutes about 75% of domestic supply. At the same time, the demand for retail space was still very high and the level of vacant buildings remained very low.

Excavators have entered the construction site of the office building Face2Face Business Campus located in Katowice. The new project of Echo Investment will offer 21,000 sqm of space.

Skanska has opened its fifth office building in Wroclaw. The 18,000 sqm Green2Day complex’s tenants include KPMG, Ultimo, Tieto, Natek and Enel-Med. The Business Link, a coworking network, is also establishing a branch in the building.

Deka Immobilien has instructed real estate advisory firm Savills to lease another seven office buildings: Atrium One, Helion, Luminar, MatchPoint A and B as well as Mokotowska Square in Warsaw, and Andersia Tower in Poznań. Savills will continue to act as an exclusive leasing agent for Grzybowska Park, International Business Center and North Gate.

The Polish industrial market set three records in H1 2018, according to Cushman & Wakefield. The leasing volume hit 2,100,000 sqm – the highest in the first six months of a year, the vacancy rate fell to an all-time low of 4% (573,000 sqm) and the volume of warehouse space under construction set a new high of 2,250,000 sqm across 66 projects.

Business services centres occupy more than 2.5 million sqm on the Polish office market according to new estimates by JLL. Traditionally, the business services sector has the highest percentage of occupied office space in Kraków (61%).