Building a market for people

How would you assess the state of the market today? From your perspective, especially when it comes to retail, how does what we’re seeing now compare to the early years of the market, 25–30 years ago? Tomasz Trzósło, the CEO of EPP: Looking at where the Polish commercial real estate market stands today – both in retail and office – it’s clear that we’ve come a long way: from an aspirational market to a mature one. Thirty years ago, we were a transitioning economy – full of energy and potential, but lacking such fundamentals as modern space, business know-how, experience, talent and capital. The market absorbed everything new and modern. There was a massive supply gap and strong consumer demand, but also a very simple operating model. In the 1990s, we were essentially starting from scratch – we’d get excited about every single project and deal. One of the first transactions I was involved in, with support from Tomek Puch, was a