Hi Piotrkowska was conceived as a new showpiece for Łódź, adding new, city-forming functions to the city centre. The development of the complex follows the global trend for encouraging business world and local residents to come together through the flexible use of public space. Its modern buildings have been designed to blend seamlessly into the fabric of the city centre, but at the same time will be prominent enough to play the role of an informal ambassador for the city, greeting both citizens and tourists with the name: Hi Piotrkowska!
Globalworth published a trading update summarising the key highlights of its operating performance during the first six months of the year, including some further updates as to the impact of the pandemic crisis on its operations.
Cordia International Zrt., has recently acquired 93% of Warsaw listed Polish residential developer Polnord S.A. through a combination of capital increase and public tender offer that was closed on April 9. The company expects approximately EUR 38.2 million of profits from the takeover.
Poland’s Peakside Capital Advisors team was joined by Fabian Kowalewski. Fabian has been associated with the logistics and warehousing industry for nearly 15 years. At Peakside he took the post of Leasing & Development Director Industrial Market, on which he will be responsible for developing the warehousing and industrial property portfolio.
Global real estate services firm Cushman & Wakefield has been appointed property manager of Rondo 1, a prestigious office building in Warsaw. The company has also seen its mandate to manage Green Corner B and Kopernik Office Buildings extended.
2019 was a record-breaking year for the commercial real estate market in Poland in many respects: nearly 150 transactions were recorded (compared to ca. 100 in 2018), the value of which reached EUR 7.7 billion (in 2018: EUR 7.2 billion). 2020 may be even better, as we expect a further increase in liquidity. This is due to the inflow of investment capital with different risk profiles from outside Europe, primarily from the Middle East, the Far East and North America – from core/ core+ (South Korea, China, potentially Japan, Canada, Australia, Israel) to value-add ( Singapore, Philippines, Malaysia, as well as Canada and Israel). New investors, from Central and Eastern Europe, primarily from the Czech Republic, Hungary and Slovakia, are also expected to increase their involvement in Poland.
Echo Investment has secured three standing and working 1st generation shopping malls belonging to the Tesco Group. Altogether, around 240,000 sqm mixed use area consisting of office, retail and residential space can be developed on plots located in Poznań, Łódź and Cracow.
Employment of foreigners in Poland still requires fulfilment of certain formal obligations provided for in various regulations. Although the obligations imposed on employers and third-country nationals may appear to be difficult to overcome at first glance, the list of conditions to be fulfilled is constantly reduced and the procedures related to the legalization of employment are simplified.
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