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Warsaw office market faces supply challenges

Only 60,900 sqm of office space was completed in the Polish capital in 2023, the lowest total in the history of the Warsaw office market. Savills also notes that development activity in Warsaw picked up in the second half of last year in response to a prolonged period of undersupply. In the most optimistic scenario, approximately 445,000 sqm of new office space will be delivered onto the Warsaw market in 2024–2026.

Imagine office complex in Wrocław to be refinanced

Avestus Real Estate has signed a loan agreement to refinance the Imagine office complex in Łódź. The loan for a total of €23.9 million was provided by mBank S.A.

ESG to gain importance in flexible offices

Despite significant headwinds across the global economy, the European flexible office market has remained largely resilient throughout 2023, says Workthere.pl. In 2024, the flexible office specialist expects operators to continue to seek best-in-class spaces with a greater focus on amenities and sustainability offerings.

Natek joins tenants at Infinity office building

NATEK, a CEE market leader in outsourcing services and IT professionals, has joined the tenant roster of the Infinity office building. The company will move into the building at ul. Legnicka 16 in Wrocław in May 2024 and its offices will be arranged on 700 sqm of modern space, located on the 5th floor.

PHN begins construction of Vena office building in Warsaw

State-owned Polski Holding Nieruchomości (PHN) is starting construction of the Vena office building in Warsaw's Wola district. Construction work will take two years and the estimated investment cost is around PLN 200 million.

Gross demand on Poland's office market remains stable

Axi Immo has presented six key trends on the Polish office market with a presentation of estimates for the sector at the end of 2023. Two-speed new supply – supply gap in Warsaw, high activity in regions

Savills to manage Mogilska 35 Office in Kraków

Savills has been appointed as property manager for Mogilska 35 Office in Kraków. The six-floor office building is one of the latest office projects delivered in southern Poland by Warimpex.

Poland's office market enters optimization phase

2023 was marked in Poland by a shrinking office development pipeline amid a continued focus on the optimization of office footprints and overall office running costs. It was also another year in which both tenants and developers faced relatively high office fit-out costs. In addition, high borrowing costs were a drag on expansion, with caution being a key theme characterizing the Polish office market, says Newmark.

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