ARTICLES LABELLED WITH TAG Poland

Trei Real Estate GmbH is about to open its 19th retail park under the Vendo Park brand in Poland. The retail property is located in Czestochowa in the Silesian Voivodeship in southern Poland. With a population of around 230,000 residents, it is the second-largest city in Silesia. It lies a car ride of roughly three hours south-west of Warsaw on the River Warta. The new Vendo Park, one of the largest retail parks in Trei’s portfolio, has a lettable area of around 8,200 square metres and a tenant base of 13 retailers. The amount that Trei invested in the asset approximates €11.9 million.

Panattoni is to build a city park in Kraków - City Logistics Kraków I will have a total area of 36,500 sqm. The first of two buildings is to be ready in September 2021 and the first tenant, a logistics operator specialising in last mile deliveries, has already leased 9,040 sqm. Panattoni's latest project will play a crucial link in the chain from online store to courier company and finally on to consumer.

spaceOS, a company offering a global operating system for safe, flexible and human-centric workspaces, has announced a pilot deal with Hitachi, Ltd. The agreement will see Hitachi integrate its platform into spaceOS’ workspace management app, to provide its commercial real estate clients in Japan with a complete, integrated smart building ecosystem.

Real estate investor and manager Cromwell Property Group has appointed Elwira Pyrkowska as Head of Asset Management, CEE. She will be based in Cromwell’s Polish office.

Members of Generation Z have been shaped by a number of social, economic and technological factors and developments taking place during their formative years. How do they differ from previous generations? What are the challenges associated with Zoomers’ entering the workforce? A new report by Cushman & Wakefield and Antal tried to answer these questions.

The Polish economy is already past the low point of the short-term economic activity downturn. However, the construction industry is not at this point yet as it responds to economic shocks after a certain time period. This is why the first half of 2021 will be marked by challenges. The market pins its hopes on the new EU financial envelope, but a tangible effect on the investment volume will not become apparent before H2 2021.

In the first half of the year, Poland ranked second in Europe for net leased warehouse space. Demand for warehouses is steady and further investments continue to be made on the market. A new 7R City Flex Last Mile Logistics project will be built at Graniczna Street in Wrocław. PIKA, a company which specializes in the outsourcing of document management, processing and distribution, has chosen 7R which will prepare a high-bay warehouse space adapted to the strict standards of document storage. The general contractor of the 7R City Flex Wrocław Airport facility is Atlas Ward Polska.

The amendment to the Construction Law in Poland came into force on 19 September. Changes include a division of project documentation, organization of the provisions which specify what works require a building permit, and legislation on unauthorized construction, and in the opinion of experts from JLL, ought to be of benefit to investors, developers and construction companies operating on the Polish market.

In the second quarter of 2020, Echo Investment generated a net profit of €2.3 million (PLN 10.4 million), which mainly resulted from the appreciation in the value of projects under construction and the handover of 222 apartments to buyers.

The condition of the Kraków office sector has been defined by successive records in recent years. It is the largest regional office market in Poland, the second city after Warsaw, which in 2017 crossed the one million sqm threshold, and the main location for BPO/SSC companies in Central and Eastern Europe. However, the global pandemic, which affected all segments of the economy, undoubtedly also affected the office sector. How? According to JLL’s latest report, in the first half of the year, demand for offices in Kraków was about 15% lower than H1 2019. In addition, the increase in remote working has prompted some employers to reorganize their offices.