ARTICLES LABELLED WITH TAG Warsaw

PINK has published figures on the office market in Warsaw for Q3 2021. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cresa, Cushman&Wakefield, JLL, Knight Frank, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

Atrium European Real Estate Limited, an owner and operator of shopping centres and residential for rent properties in Central Europe, announces that it has signed its first two residential transactions, totalling around 650 residential units, located in Warsaw and Kraków in Poland, for €53 million in aggregate. Atrium will invest further into the properties in order to achieve the highest sustainability standards and a BREEAM certification.

Globalworth has signed a preliminary agreement to sell five Warsaw office buildings to 5th Corner – a new investment platform set up by Cornerstone Investment Management and other shareholders. In this transaction, which is valued at around €123 million, the buildings in Globalworth’s portfolio that are to be sold are Nordic Park, Bliski Centrum, Batory Building I, Company House I and Warta Tower.

The White Stone Capital Group has purchased the second part of the land in Bielany in the vicinity of Huta Warszawa, at the Młociny metro station. In total, the developer owns a plot of land with an area of ​​200,000 sqm in its portfolio. Work is underway on the concept of creating a multi-stage multi-functional investment with a rich green area preserved.

CPI Property Group signed framework agreements with advisory company JLL for comprehensive project management services in 13 office buildings in Warsaw. The total GLA that the cooperation encompasses is approximately 320,000 sqm. The JLL Project & Development Services team will be responsible for the implementation.

Hungary-based developer Cordia completed the 54.5-metre-high Horyzont Praga in Warsaw, which is the highest-ever residential building of the company. Hungary's leading residential property developer plans to develop 3,500 homes in Poland, in addition to the nearly 900 homes currently under construction.

Following the acquisition of Polish residential developer Budimex Nieruchomości - now renamed Spravia - construction of its first project has begun with its new owner, Czech developer and investor Crestyl. The two phases of the Mińska 69 residential complex in Warsaw will offer nearly four hundred apartments for long-term rent. Based on a previously concluded strategic partnership, they will be bought by Heimstaden Bostad, one of Europe’s leading residential real estate rental companies.

Atrium plans to demolish three old shopping mallls in Warsaw - Atrium Reduta, Atrium Targówek and King Cross – and build apartments in these locations. City authorities comply, but the change of the spatial plans may take years.

In the first half of 2021, tenants leased over 1.1 million sqm of modern office space across the capitals of the 15 CEE countries. The highest level of activity was recorded in Warsaw (249,300 sqm), followed by Prague and Budapest. The Business Services Sector continues to generate a great deal of demand and occupier activity and is one of the largest employment sectors in the region according to the “ExCEEding Borders - Office Markets & Business Services in CEE-15” report just released by Colliers.

Polski Holding Nieruchomości concluded an agreement with PERN on leasing office space in INTRACO Prime located in Warsaw’s Muranów district. PERN will lease two floors of the 8-storey Class A office building, which is scheduled for commissioning in early 2022.