ARTICLES LABELLED WITH TAG Poland

Jarosław Fiutowski, Member of the Board responsible for ESG strategy and innovation at Ghelamco Poland, talked to Property Forum about the renewable energy in office buildings,  the awareness of ESG issues among tenants and the related stance of Western investment funds.

In 2023, Central Europe’s commercial real estate market faced a notable decline in investment volumes. Dropping by 55% year on year, the region’s total investment volume accounted for €5.02 billion. Of the six countries surveyed by Cushman & Wakefield, Poland experienced the most significant downturn of 68%, with its share of the total CEE volume also dropping. The highest proportion of the capital went into the office sector, which also recorded the sharpest outward movement in terms of yields. Local and regional investors accounted for two-thirds of the investment transaction volumes, a significant increase from the previous years. Despite challenges, the market demonstrates resilience, particularly in the logistics and residential sectors, spotlighting areas of growth potential.

Construction is underway for 7R's inaugural Green Saver product in Kąty Wrocławskie, Poland, aimed at reducing both CO2 emissions and operating costs. 7R Park Wrocław West II has just secured a total of PLN 87 million (€20.3 million) in financing from Bank Pekao S.A.

CTP has expanded the Polish capital’s warehouse market by more than 67,000 sqm through the delivery of two new buildings at CTPark Warsaw South. This completion means the industrial and logistics complex in Mszczonów, near Warsaw, is now almost 90 per cent complete.

In 2023, on Poland’s largest eight regional office markets, developers delivered 280,000 sqm (-31% y/y). It’s bringing the sector’s total stock to 6.68 million sqm (+4% y/y). The new supply slightly increased the vacancy rate, stabilizing around 17.5% (+2.2 pp. y/y) at the end of December 2023. The largest concentration of tenant activity was observed in the largest regional office markets, i.e., Kraków, Wrocław, and the Tricity (about 70% of gross demand), where, in total, companies leased about 520,000 sqm out of 750,000 sqm of all signed contracts in 2023, says Axi Immo.

CPI Property Group has sold the Concept Tower office building in Warsaw to Wood & Company Real Estate Fund. The price has not been discolsed.

According to the latest report from Cushman & Wakefield, 2023 saw the second-highest supply level and the third-highest take-up figure in the history of the Polish industrial market. The sector continues to enjoy strong fundamentals supporting its steady growth despite the rapidly changing macroeconomic environment.

According to the latest quarterly report by BNP Paribas Real Estate Poland, the closing months of last year saw heightened development activity and many retailer debuts on the Polish retail market. Retail parks accounted for 80% of the new retail floor space supply.

Panattoni has just handed over the first building in the Panattoni Park Tricity East V complex, near the Port of Gdańsk. Regesta is to start operating in the building.

Ideal Idea is commencing the construction of its fifth facility as part of the expansion of the City Park Wrocław business park, located next to the airport of the Lower Silesian capital. The new 15,000 sqm building increases the total space offered by Ideal Idea in Wrocław to 36,000 sqm.