Stable for sheds

In the fourth quarter of 2025, 137,700 sqm was delivered to the market, down nearly 73 pct y-o-y and 65.4 pct q-o-q. Notably, this represented the lowest quarterly result for new supply since the second quarter of 2014. Since the beginning of 2024, the warehouse and industrial development pipeline has remained below 2 mln sqm, averaging around 1.7 mln sqm per quarter. In late 2025, nearly 1.8 mln sqm was under construction, up almost 15 pct compared with Q3 and 1.7 pct y-o-y. In 2025, developers started the construction of close to 1.9 mln sqm of warehouse space in response to current occupier demand. Meanwhile, speculative development remained limited. More than 60 pct of space underway had already been pre-leased, with only a handful of projects developed without secured pre-leases. Development activity continued to concentrate in Poland’s six key warehouse markets, where more than 1.41 mln sqm was under construction 
– almost 80 pct of the country’s total pipeline. Rene