In the first half of 2024, GTC recorded significant success, leasing more than 35,400 sqm of office space in its buildings in Poland's largest cities. GTC's properties attracted 14 new partners, and 18 companies decided to renew their leases, underlining their confidence in the quality of the space on offer
Cushman & Wakefield has been selected as the manager of three Warsaw office buildings owned by Vig Fund. As a result of this decision, the agency will take charge of the fund's entire property portfolio in Poland.
In addition to the office, the building will also house a training center, where doctors will be able to test new products and learn how to use modern equipment.
The Mokotów Nova office building will get a new face. M&A Capital SARL, the company that took over the complex , announces a number of changes aimed at creating an even more comfortable and friendly working environment for tenants. Some of the modifications will be introduced already this year
Eolus Poland, a renewable energy developer from Sweden, will become one of the tenants of the LIFE Building. It will soon occupy nearly 300 sqm of the office building in Warsaw’s Wola district. JLL Polska, representing VIG Fund, is responsible for the full commercialisation of LIFE Building, while Find Office represented Eolus Poland in the negotiation process.
As of the end of 2023, Warsaw remains the leader in Poland’s office market, but the 61,000 sqm (-74% y/y) completed in the last 12 months was one of the lowest results in its history, says Axi Immo. The developer’s lower activity period seems to be over, as by 2026, some 150,000 sqm of new supply should be delivered each year. After a very good 2022, 2023 was not much worse. Between January and December 2023, tenants signed contracts for about 750,000 sqm, meaning the total volume of transactions was slightly 13% lower than the year before. Continued low supply in 2023 and stabilizing demand reduced the vacancy to 647,000 sqm (-11% y/y).
The LIXA E office building, built as part of the office complex near Warsaw’s Daszyński Roundabout, has been granted a use permit. The building developed by Yareal Polska has provided the Warsaw market with almost 18,000 sqm of office space.
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.
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