The Polish office market is currently being driven by inward investment in the business process outsourcing/shared services centre sector, which is likely to grow by 25% this year. These huge global investments are creating a huge demand for office space, particularly in BPO/SSC hotspots like Kraków and Wrocław. Office vacancy rates vary wildly from city to city, as you will see. In retail, high-quality shopping centres are where the action is. There are queues of retailers waiting for space in the best locations in Poland's main agglomerations. However, there are also opportunities in smaller towns, which have been not been well served when it comes to providing their citizens with quality shopping experiences. Industrial and logistics real estate - factories and warehouses - also offer good return on investment as Poland's manufacturing continues its export-led growth and a new motorway network creates new hubs for the logistics sector. And e-commerce will also make its presence felt by creating new demand for logistics space.
The ever-growing demand for business premises of all sorts should be great news for the construction sector and for architects - as well as companies manufacturing the fittings that turn empty shells into efficient workplaces. As new real estate comes onto the market, tenants of offices, factories and shops start looking at their existing space and wondering whether or not to move into something more modern. This in turn means looking over existing lease agreements and considering expansion plans. All good news for lawyers, removal firms and of course real estate advisors. All in all, real estate is a subject that affects all businesses, and this issue of Contact Magazine includes a broad range of articles looking at property from different angles. A thoroughly good read, then, which offers multi-faceted insight for anyone running a business in Poland - or thinking of investing.