There are only four construction projects with a unit value in excess of PLN 3 billion (€670 million), excl. VAT, currently underway in Poland. The combined value of these projects, commonly referred to as megaprojects, is almost PLN 17 billion (€3.8 billion), excl. VAT. This is not a lot, given the fact that projects worth a total of nearly PLN 300 billion (€67 billion) are in the pipeline.
The first half of 2020 saw a record high investment activity with €3.5 billion of investment transactions closed on the Polish market. Although this was a 30% higher result compared to the corresponding period of last year, achieving a full-year result similar to the record-breaking €7.8 billion volume of 2019 may be difficult, according to Avison Young.
What will the Warsaw office market look like in the next 18 months? Experts of Savills have outlined two potential scenarios. Both scenarios foresee a short-term decrease in demand and rising vacancy rates, but with a different scale of impact of the COVID-19 pandemic on the Polish capital’s office market. Both also forecast that the market will remain resilient in the long term.
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.
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