ARTICLES LABELLED WITH TAG Poland

Vastint Poland has been awarded the LEED Gold certification for the Sound Garden Hotel located within Business Garden Warsaw. This is the last of seven buildings that make up this  complex, which has successfully undergone multi-criteria environmental verification.

The newest, and first in Central and Eastern Europe, factory is being built in Świdnik by the Trilux Group, a global lighting supplier. The 23,000-square-meter plant, which meets BREEAM certification criteria, will be built by Panattoni. 

CTP has completed a 10.5-year lease for 11,800 sqm at CTPark Zabrze in Poland to Electro Cable Group. This is the first investment in Poland by Electro Cable Group, which is the largest Ukrainian producer and exporter of power, control, and data cables.

InPost has entrusted Prologis with the construction of a Build-To-Suit tailored warehouse and office facility with an area of ​​11,500 sqm in Prologis Park Ruda Śląska. InPost will move into the new DC3 building in September 2024. The transaction was brokered by Cushman & Wakefield.

Although the office development pipeline in Poland’s eight largest regional city markets is clearly shrinking, it is still above that for Warsaw, says BNP Paribas Real Estate Poland in its laterst report. Another notable development of the last quarter of 2023 was that the overall regional vacancy rate hit an all-time high by the end of December.

Following the outbreak of the Covid-19 pandemic in early 2020, the Polish investment market has consistently navigated its repercussions, only to face additional challenges from the economic turbulence resulting from the war in Ukraine, rising interest rates or inflation. Despite maintaining stable investment volumes for three tough years, 2023 witnessed an inevitable slowdown, says Avison Young.

The international manufacturer and distributor of furniture accessories, lighting and tools is expanding its footprint at MLP Pruszków II, the logistics centre near Poland’s capital city Warsaw. As a result of this move, GTV will occupy a total of over 47,200 sqm of space in the region’s largest warehouse complex. The handover of the additional 15,100 sqm facility is slated for the fourth quarter of this year. The transaction has been brokered through Axi Immo.

Sylvie Geuten-Carpentier, Managing Partner at Mitiska REIM, talked to Property Forum about the current state of affairs in the Polish investment market, recent activities of Mitiska in CEE countries and the rising attractiveness of the retail park sector.

According to a recent report published by Newmark Polska, total office take-up in 2023 in the largest Polish regional cities surpassed 741,300 sqm - an increase of almost 19% year-on-year and 7% from the pre-pandemic 2019 peak. Meanwhile, issues related to ESG, functionality improvements, efficient office space management and optimisation of lease costs have filtered through into the vocabulary and strategies of tenants and developers alike.

Panattoni has launched work on another project for the retail sector. A distribution centre is to be built in Szczecin with an area of around 54,500 sqm where up to 500 people are going to be employed. The development will be certified under BREEAM for a rating of Outstanding.