Small is beautiful

The leasing market increased by all of 27.5 pct last year. The value of properties delivered for leasing amounted to almost PLN 2.5 bln, according to data supplied by companies to the Union of Leasing Companies, while the total for 2004 came to less than PLN   Seeking small contracts

EFL is not the only competitor with expansion plans. BZ WBK Leasing is also gearing itself up. Tomasz Lewandowski, products manager at BZ WBK Leasing reveals that: “We are preparing to introduce our product in 2–3 months, although the idea itself was born a year ago. Most contracts are still for substantial properties. The statistics speak for themselves – last year around 80 contracts were concluded in the whole market – which is not much. In our opinion, smaller transactions are worth trying for.” The manager of Millennium Leasing (formerly BEL Leasing) also thinks growth in this area will be rapid. The company took its first steps on to the market in 2005 and ended up with contracts worth PLN 15 mln. The same amount has already been recorded in the first quarter of the present year. ML president Andrzej Gliński asserts that they are interested in small and medium properties valued between several and several tens of millions of złoty.

 In Bielecki’s opinion competition can only have a positive impact on the market, since its enhances its scope and reaches new companies, which is important because many businesses just do not seem to know what real estate leasing is all about.

companies’ customers

Those who represent this industry feel that in the short history of the Polish real estate leasing market, although several companies have in the past confidently announced their entry on to the scene, the effects of the rivalry are proving to be rather disappointing, and this is especially true in the case of Raiffeisen Leasing Polska, for instance.

Who will  win the day?

It is clear from company portfolios that shopping, office, logistics and industrial space lead the field. The largest transactions last year were Rondo 1 – handled by BRE Leasing (PLN 427 mln) and Galeria Legnicka – by ING Lease Polska (PLN 91.5 mln), but lessors are still very cautious when it comes to hotels, due to the excessive risk inherent to this industry.

 Ewa Andrzejewska