Think globally, build locally

At the end of 2015, the total Polish new office supply hit 8.2 mln sqm, while 643,000 sqm was completed over the year. According to the “Property Times Office Poland” report by Cushman & Wakefield, 56 pct of the new space was delivered outside Warsaw. Currently over 1.4 mln sqm of office space is under construction, app. half of which (765,000 sqm) is being developed outside Poland’s capital city. Kraków continues to remain the leader of the regional cities in terms of both the supply and demand for offices. The city’s office market is estimated at 766,000 sqm, which accounts for 24 pct of the total supply in the main regional cities. Kraków is followed by Wrocław (618,500 sqm), which holds a 19 pct share of the total regional supply, and the TriCity, with 567,000 sqm (18 pct). According to BNP Paribas Real Estate Poland’s forecasts, these three cities are set to strengthen their positions in the next