PL

Edition 4 (168) April 2012

Editorial

A day to cry or laugh?

Acouple of days ago on March 23rd, we celebrated "Elevator Day", which commemorates the launch of the first passenger lift in 1857. But the calendar contains a few more unusual days like this. On September 25th builders have their own holiday, while the first day of July is World Architecture Day.

Ewa Andrzejewska
Office & mixed-use development

Tried - and - tested for hard times

POLAND It raised the bar for developers when it built the Rondo 1 skyscraper in Warsaw between 2004 and 2006, and then once again when it signed a record-breaking contract to lease app. 39,000 sqm of office space to Bank Pekao in 2008. In 2010 the developer again made a splash, revealing that it had acquired Count Raczyński's historic residence in the centre of the capital city.

Ewa Andrzejewska
Investment & finance

Turning distress into success

POLAND Irish Development Group (IGD) has sold a plot at ul. Grzybowska 78 in Warsaw to closed investment fund Golub GetHouse Property Fund FIZ. This is a new player on the Polish market, but involves companies that have been present here for many years.

Radosław Górecki
Investment & finance

First steps as a developer

POLAND Waryński Holding Group, famous for selling earthmoving machinery, is now looking to enter the property development market. An office and residential project on ul. Jana Kazimierza in Warsaw's Wola district will be the first project of this newcomer to the business.

Aneta Cichla
Retail & leisure

Three projects in two years

POLAND IKEA Centre Group Poland - the Polish development subsidiary of Swedish retailer IKEA - is refusing to rest on its laurels. The company was established in the 1990s and its achievements now include a portfolio of seven parks and malls. The developer is currently working on three projects: in Wrocław, Poznań and a shopping centre in Lublin. All should be completed in 2014 at the latest.

Aneta Cichla
Facility Management

Better together

POLAND The developers of a new business district in Warsaw's Wola area have decided to combine forces and treat all their developments in the quarter as one joint project with the working name 'Warsaw Business Centre'. This applies to all the projects developed on post-industrial sites between ul. Przyokopowa, ul. Grzybowska, ul. Karolkowa and ul. Hrubieszowska. In total, an office area of app. 78,000 sqm is planned within the WBC.

Stock market report

A few up, but more down

The Greek saga continued to dictate the situation on the global financial markets. The agreement on the restructuring of Greece's debt and - as it turns out - the shallower than expected downturn in Europe, were not enough to encourage the indexes to move up

(Mir)
Feature

Leaping into the gap

When the yield gap between government bonds and real estate in the euro zone widened to historically high levels in the wake of the Greek debt crisis, commentators predicted a shift towards property investment. How has this impacted the CEE region, if at all?

Nathan North
Green projects

The cost of going green

The choice between green building certificates is not as bewildering as it first appears. although price is clearly a criterion that influences developers' choice of rating system, it is far from being the dominant factor upon which such decisions are based

Alex Hayes
Human resources

Losing your licence

Property managers and agents will soon no longer need to hold a licence - if government proposals to deregulate these professions come into force. The plans have prompted a wave of protest from across the industry

Anna Pakulniewicz
Hotels

Caught in the chain

The hotel market in Poland: on the one hand, two hundred facilities are up for sale - a legacy of the years of prosperity. On the other, international chains are waking up to the potential of our market and have ambitious plans

Aneta Cichla
Events

Strategic points

One step forward, two steps back. and then the other way round: two steps forward, one step back. I'm not joking! And I'm not describing a dance step. This was how the situation on the real estate market was described by one of the MIPIM participants

And
Endpiece

It's all kicking off (or not)

Poles like to complain. About everything. However, when it comes to the preparations for Euro 2012, they do have some justification in doing so. Many of the planned road projects have not materialised, and others will only become part of the traffic system as an emergency temporary measure before they have been completed. Despite all this, had it not been for the fact that we are hosting such a tournament, the projects that have seen the light of day would never have gone ahead in the first place

Aneta Cichla

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