Few European capitals have changed as rapidly as Warsaw over the past three decades, yet many believe its biggest transformation still lies ahead. Industry leaders speaking at the closing panel of Future of Real Estate 2026, moderated by Aleksandra Mazzini, argued that the city is entering a new stage of development, driven by technology, talent, infrastructure investment and the evolution of large-scale mixed-use districts. While challenges around planning, regulation and sustainability remain, the long-term outlook for Warsaw was overwhelmingly positive.
Paul Kusmierz, CEO of Master Management Group, argued that artificial intelligence is set to transform real estate operations far more than development itself, where he believes overreliance on algorithms would lead to uninspired design. He highlighted the continuing shift toward mixed‑use projects that blend retail, entertainment and residential functions. On capital flows, he noted Warsaw’s high ranking in European investor surveys and said large global pension funds are increasingly targeting the city as war‑related concerns fade. In his view, Warsaw remains at the start of a decade‑long growth cycle, driven by talent, business appetite and a still‑rising urban profile, but he stressed the need to streamline environmental approvals.
Marcin Bieniek, Associate Partner and Operations & Development Director at White Star Real Estate, emphasised that Warsaw is maturing into a more “senior” and sophisticated market, with investors and city authorities now thinking in terms of larger, longer‑horizon, mixed‑use districts rather than isolated buildings. He sees Praga and the right bank of the Vistula as a key frontier, where infrastructure improvements like the metro and riverside plots can support office and residential growth. At the same time, he warned that lengthy and inconsistent environmental procedures and planning processes can delay projects for years, and called for clearer master plans and more constructive dialogue between the city and developers. Despite these challenges, he remains confident that Warsaw offers ample room for transformative infill projects that can reshape whole neighbourhoods.
Jerzy Brodzikowski, General Manager of CIC Warsaw, framed Warsaw’s trajectory in the context of Poland’s broader economic “miracle” since the 1980s, arguing that the country’s relatively young market allows it to leapfrog older Western patterns and build “smarter” from the start. He stressed that demand for space will remain strong but must be met with more inclusive, better‑connected districts built around the 15‑minute city idea, with Praga again highlighted as a prime example. From his vantage point in the innovation ecosystem, he described a steady stream of international delegations viewing Warsaw as a gateway to Central and Eastern Europe, and pointed to technology and sovereign European innovation as major investment themes. He praised the city’s evolving 2040 strategy and more open approach to entrepreneurs, while urging continued public–private dialogue to keep the momentum.
Maciej Markowski, CEO of SquarePlan, took the broadest view on AI, arguing that it will touch every layer of the built environment—from hyper‑personalized user experiences and smart office layouts to traffic optimisation and the design process itself. He believes Poland’s strong education in mathematics and STEM gives Warsaw a deep pool of tech talent, which is already attracting global investors and enabling AI‑driven design and analytics in commercial real estate. Looking at housing and office demand, he expects remote work and AI to change usage patterns but not eliminate the need for physical space, particularly as the city remains relatively underbuilt compared with Western capitals and faces demographic shifts like an ageing population and growing rental demand. He also noted structural gaps in capital markets, including the absence of REITs, and cautioned against Warsaw adopting the complacency of “must‑be” global cities where high barriers are simply accepted.
Dominik Uhe, Head of Investor Relationship Management at Kaufland International, brought the perspective of essential retail and logistics, stressing that grocery formats must follow where people live and move, with most Kaufland stores embedded in neighbourhoods or early in greenfield expansion zones. He described a gradual move toward mixed‑use projects that combine retail with other functions, even as standalone formats remain attractive for operational simplicity in a fiercely competitive sector. On climate and regulation, he outlined the Schwarz Group’s net‑zero ambitions by 2050 and significant investments in new technology, including participation in an AI innovation park and major data centre developments aimed at bolstering European digital sovereignty. He also highlighted efforts in recycling, circular materials and packaging, and argued that closer cooperation between Germany, Poland and other EU partners will be essential to sustaining affordable, sustainable food retail and resilient urban growth.
