Poland Land is the key to success but requires skills

Material partner
Warsaw is one of the most affordable capitals in the European Union to live in. In order to maintain its competitiveness, it is crucial to expand the availability of plots
You are reading this content because it is covered by the free limit. Buy full access!

Will land get cheaper?

Aleksandra Wołodźko, CEO of consulting firm Greenfields: The last time we saw a decline in land prices was after the global crisis in 2008. Plots were getting cheaper and cheaper, the European economy was going through a deep recession, and real estate companies were conducting massive layoffs. Today, we are lucky to have no layoffs, and employers are not cutting wages. I don’t see any reason for a drop in plot prices. Nevertheless, we have recently heard during negotiations: “if inflation is going up, land should get cheaper because otherwise, the developer will not make the desired profits.” We wouldn’t bet that this economic theory is going to stick with private landowners, as we know from experience that they would rather eat dry bread for the rest of their lives than sell land at a price they consider unfair.

So should we expect plot prices to continue to rise?

I don’t want to make any strong predictions on how the coming months will look like, but I can confirm that we’re already investing in land more heavily than ever. Mark Twain once said, “Buy land, they’re not making it anymore,” and we are fully committed to this principle. There is no real estate asset that returns as high yields as land over the long term. It is not what you will hear at MIPIM or Expo Real because property funds don’t buy plots. Land doesn’t generate annual returns that can be shown to investors in Excel. More importantly, buying commercialized buildings requires mainly financial skills, while buying and converting land requires negotiating, architectural, legal, and engineering competencies. We do have such competencies. We also have a feel for the market and a vision, plus we accurately identify locations gaining value.

Developers, especially in Warsaw, complain about delays in administrative decisions. Where is the problem?

Our company is efficient in obtaining decisions, as we know the market very well, our employees have extensive experience, and we stay in constant dialogue with the Warsaw authorities.

Still, I confirm that obtaining zoning decisions and building permits in Warsaw is a major challenge, and applications take years to process. In addition, it’s just ridiculous that local plans are adopted based on a 20-year-old land use plan that doesn’t respond to the current needs of the city. Other cities show that a smooth change of the land use plan is possible. In Gdańsk, the new document was enacted in 2 years and 8 months. In Wrocław – in 3 years and 6 months.

In Warsaw, protests also cause problems. According to the law, an official should include the neighbours in a building permit procedure only if the project affects their property. The projects we advise on are built in such a way as to avoid this. But some officials, even today, keep on including the neighbours in the procedures without having any reason to do so, and the neighbours keep on protesting against the permits, demanding money from the developers to stop protesting. And those protests often take years to resolve, and in 99 pct of cases, they are dismissed by the courts. It is not a precedent but actually a practice to the extent that communities and some law firms specialise in articulating demands to developers. And the developers, in order to maintain schedules, give in to such unjustifiable wishes.

Let us remind you that Warsaw is one of the most affordable capitals in the European Union to live in. Numerous corporations want to locate their businesses in the capital city of Poland. To continue being competitive, we need to increase the offer of land. We believe that in Warsaw, in urbanised areas, there are enough plots of land. We just lack agility in transforming existing land and obtaining zoning and building permits.

What else causes you difficulties?

Inflexible spatial planning. We believe that the local plan should define public areas and road infrastructure as well as height, volume, maximum building area, environmental areas, etc. But it should not determine the intended use, but just exclude harmful functions. The question is how one may predict the needs of a given plot of land in 20 years’ time? Predicting whether we will need more offices, apartments, hotels, elderly care centers, or data centers in the future is a bit like fortune-telling. Planning should be more flexible as only then will it serve the city, developers, and residents well.

Is it true that you have had plenty of disputes with the City of Warsaw due to their refusal of some of your applications?

Yes, that’s true. We have had about a dozen or so appeal proceedings following the refusal to issue zoning decisions. We’ve won most of them. We were successful in receiving positive decisions in the appeal procedure, but it delayed the whole development process by several years. What hurt us the most was the fact that the municipal officials perceived us as opponents for quite a long time, so basically, after the first appeal to the Local Government Appeal Board, we kept getting negative decisions from them.

Is it still like this?

Luckily for everyone, we have put a stop to this situation. We changed our approach to a more conciliatory and empathic one, which has allowed us to unblock a number of procedures, including the processing of our application under the special purpose housing law for the development on ul. Gdańska in Warsaw, which was initially rejected by the city. Thanks to constructive dialogue with the authorities and the architectural and construction administration bodies, the relevant resolution was adopted at a second attempt, opening the door to the special purpose law for other developers.

We are aware that the work of officials is more difficult than we think. At the same time, we believe that unfavorable court decisions made the city authorities realise that it is worth listening to the developer’s arguments to avoid lengthy appeal procedures.

So will it be easier than before for developers to obtain decisions in Warsaw?

I didn’t say that, but we’re seeing real progress here. Anyway, we have clients from all over the world, and although they all complain about how confusing and unpredictable it is to obtain permits in Poland, they also admit that their own countries aren’t much better in this respect.

Coming back to the project on ul. Gdańska, you submitted one of the first applications in the country under the special purpose housing law in Warsaw. This development was given the green light by the authorities, but the decision was preceded by a court battle.

Unfortunately, mainly for political reasons, there was a lot of controversy surrounding the new regulations. However, we have seen great potential in the special purpose law right from the beginning. We are pioneers, for sure. But when it comes to the first project, on ul. Gdańska, we had to go through the entire appeal process to get the City of Warsaw to agree with us.

But has much changed since then?

Today I don’t think anyone doubts that the special purpose law is a good tool that helps to transform neglected areas of our cities. We knew this right from the beginning, and we are glad that now the City of Warsaw also fully supports this law. We lost 5 years fighting in court that we could have used to have a lot of new land for residential use ready.

The special purpose law brings benefits to the entire district. It requires the investor to finance the construction of public services such as schools, kindergartens, roads, parks, or other green areas. In addition, it is a good alternative to outdated zoning plans.

Are the first effects of the special law already visible?

The first two projects are being developed under this procedure in the district of Praga Południe.

As for the location on ul. Gdańska that I mentioned before, Greenfields is working on a building permit. We’re coordinating the construction of an intimate residential estate with green areas and services. On ul. Bieżuńska in the district of Targówek, we are preparing a residential project with a public kindergarten and green areas. This is also an area that is in urgent need of transformation. Bieżuńska is a post-industrial rift in the compact urban fabric rather than a showpiece of the district.

We’re working intensively on several other projects in the best locations in Warsaw. We’re making efforts to obtain the required decisions for land on which some 2,200 apartments will be built. More details will be provided soon.

We’re not limiting ourselves to Warsaw. In Płock, we’re transforming a post-industrial site of 6.5 ha. This is one of the largest projects of this kind in Poland. The project involves the construction of: 1,400 apartments, recreational areas, services, a road, and a kindergarten. The new development will change this part of the city in a fundamental way, as it covers an area where there were numerous buildings housing poultry processing plants, causing major inconvenience.

It is worth emphasising that all developments will be in line with the popular concept of the 15-minute city, involving the construction of public infrastructure such as kindergartens, crèches, green areas, parks and roads.

***

Aleksandra Wołodźko – has several years of experience in the land market. Since 2005, she has been CEO of Greenfields, a consulting firm with transactions covering the sale of more than 1.2 mln sqm of land in total and the construction of more than 17,500 apartments. She has advised international developers, investment funds, and developers of warehouses, hotels, data centres, and the PRS sector on land purchase and sale transactions and the coordination of the development process. She graduated from the University of Warsaw. As the CEO of Greenfields, she has participated in the preparation of resolutions under the special purpose housing law, e.g., for one of the largest projects of its kind in Poland: the Kostrogaj estate in Płock, comprising 1,400 apartments.

Latest news

Warehouse & industrial

Germany More jeans from Germany

schedule 12 September 2025
Opr./edited by AH

GXO and Levi Strauss & Co. have opened a fully automated 70,000 sqm logistics centre in Dorsten near Essen to support its European distribution network.

Retail & leisure

Poland Four retail parks set to grow

schedule 12 September 2025
Opr./edited by AH

Karuzela plans to expand four existing retail parks in Września, Lubliniec, Biała Podlaska, and Ełk. These centres were constructed between 2014 and 2023.

Investment & finance

Poland More Polish investment in Poland

schedule 12 September 2025
Opr./edited by AH

In the first half of 2025, commercial real estate investment in Poland reached EUR 1.71 bln, broadly in line with the total for the same period in 2024. Domestic capital increased its share of this volume, with Polish investors accounting for around 40 pct of office transactions in the first six months of the year – this highlights the growing activity and professionalisation of national market players.

Warehouse & industrial

Poland Cornerstone laid for Westside Szczecin

schedule 12 September 2025
Opr./edited by AH

The cornerstone has been laid for the Westside Szczeciń Neo by LemonTree logistics and service complex. This is the company's second project in the West Pomerania region.

Warehouse & industrial

Romania Industra Park Iași set to grow

schedule 11 September 2025
Opr./edited by AH

Oresa Industra has been granted a building permit for a 15,000 sqm expansion of Industra Park Iași in Lețcani, with delivery scheduled for the first half of next year.

Office & mixed-use development

Poland Skyliner II shooting up

schedule 11 September 2025
Opr./edited by AH

The construction of the second phase of the Skyliner office complex in Warsaw, owned by the Karimpol Group, has reached the halfway point. At a height of 65 metres, the walls of the 15th floor are currently being built, which means that the structure has reached half of its target height. All construction work is scheduled to be completed by the end of Q4 2026.

Investment & finance

Czech Republic Yanfeng warehouse sold to Clarion Partners

schedule 11 September 2025
Opr./edited by AH

Sale and leaseback specialist Clarion Partners Europe has acquired a 47,000 sqm warehouse in Zatec, Czech Republic, for around EUR 50 mln on behalf of one of its commingled funds. 

Exclusive
Exclusive

Poland Building momentum for the future

schedule 11 September 2025
Anna Korólczyk-Lewandowska
editor-in-chief

The Bricomarché chain is celebrating its 25th anniversary in Poland. On this occasion, we speak with Katarzyna Jańczak-Stefanide, General Manager of the chain in Poland.

Investment & finance

Poland Financing for Sosnowiec V

schedule 10 September 2025
Opr./edited by AH

Panattoni has secured a loan for EUR 30.5 mln from PKO Bank Polski to finance the development of its Panattoni Park Sosnowiec V complex.

Hotels

Romania Romanian hotels grow

schedule 10 September 2025
Opr./edited by AH

 Occupancy rates increased by around 4 pct in the first six months of the year compared to the same period of 2024, according to a report by Cushman & Wakefield Echinox with the figures based on the STR data. The average daily rate (ADR) grew by circa 8 pct in local currency. This resulted in a spectacular 12 pct increase in RevPAR YTD 2025 versus 2024.

Office & mixed-use development

Poland Grant Thornton to move into the Bridge

schedule 09 September 2025
Opr./edited by AH

Grant Thornton, a global auditing and advisory firm, has joined the tenants in The Bridge – Ghelamco's newest Warsaw development. The company will occupy nearly 2,400 sqm of office space on the 17th and 18th floors.

Office & mixed-use development

Poland Exact Sciences enters Lixa D

schedule 09 September 2025
Opr./edited by AH

Exact Sciences, a global leader in molecular diagnostics and early-stage cancer detection, has opened its international support centre in Warsaw. The company has leased over 1,800 sqm in the Lixa D office building on ul. Giełdowa.

Warehouse & industrial

Poland Hopi stays on with P3

schedule 09 September 2025
Opr./edited by AH

P3 has extended its long-term lease for nearly 34,000 sqm of warehouse and office space with Hopi in its P3 Mszczonów park. Hopi is involved in warehousing, co-packing, and freight forwarding services for leading FMCG manufacturers and retail chains.

Infrastructure

Romania Strabag constructs Deleni wind farm

schedule 09 September 2025
Opr./edited by AH

Strabag has been commissioned to erect 23 GE Vernova wind turbines, each with a capacity of 6.1 MW by PPC Renewables Romania. The 140 MW wind farm Deleni will be the largest renewable energy plant in the Moldova region.

Office & mixed-use development

Poland Offices Are Making a Comeback

schedule 08 September 2025
Opr./edited by AH

Demand for office space in Poland is on the rise, particularly in regional cities. The trend of downsizing office footprints is reversing, as companies are beginning to expand their workspace once again, claims consultancy Walter Herz

Warehouse & industrial

Romania VGP builds in Bucharest

schedule 08 September 2025
Opr./edited by AH

VGP has begun construction on the first building of VGP Park Bucharest 2. The project will comprise over 114,000 sqm.

Investment & finance

Poland Scallier sells project to Centerscape

schedule 08 September 2025
Opr./edited by AH

Poznań-based Scallier has sold a commercial property in Nowa Wieś near Pruszków within the Warsaw urban area to Centerscape.

Investment & finance

Poland AFI buys out Echo's share of Office House

schedule 05 September 2025
Opr./edited by AH

AFI and Echo Investment, the developers of the Towarowa22 project, have signed a deal under which AFI becomes the sole owner of the Office House office building. Echo Investment sold AFI its 30 pct stake in the building, which was valued for the purposes of the transaction at EUR 160.5 mln.

Investment & finance

Poland Dom Dochodowy sold

schedule 05 September 2025
Opr./edited by AH

Generali Fund Realit, managed by Generali Investments CEE, has acquired the historic Dom Dochodowy building, on pl. Trzech Krzyży in central Warsaw.

Warehouse & industrial

Germany Siemens Energy comes to Mülheim

schedule 04 September 2025
Opr./edited by AH

CTP has signed a lease agreement with Siemens Energy Global for the development of 20,000 sqm in CTPark Mülheim in North Rhine-Westphalia.

Latest in Material partner

schedule 07 October 2024

Brownfield rather than greenfield – a model for sustainable development at City Point Targówek

Contemporary cities are grappling with the challenge of fostering dynamic growth while alleviating environmental pressures. Traditional infrastructure expansion often requires the development of greenfields, with adverse impacts on both local ecosystems and communities. A sustainable alternative is to revitalise brownfield urban sites, as exemplified by City Point Targówek, a project led by Peakside Capital Advisors.

schedule 02 May 2024

Nordbygg 2024: Many innovations and strong interest

Last week, Nordbygg, Northern Europe’s biggest trade fair for professionals in construction and real estate industry, took place at Stockholmsmässan in Ävsjö, Sweden. 35,000 visitors attended which, combined with the 5,000 people on the stands, gives a total of 40,000 participants. New features for Nordbygg 2024 included the strong involvement of the City of Stockholm and a popular online app.

schedule 04 April 2024

Excellent Fern at Off Piotrkowska

Intensive commercialization of the multifunctional Fern building under construction at Off Piotrkowska Center has begun. A modern building, the construction of which will start at the turn of 2024/2025, offers 4,700 sqm of service space and 2,700 sqm of office space.

schedule 21 March 2024

New opportunities emerge in uncertain times

Over 20,000 delegates representing 90 countries gathered in Cannes for the 34th edition of MIPIM, the global urban festival that brings investors, political leaders and the real estate community together to facilitate relationships and find solutions to the challenges facing the built environment.

schedule 07 March 2024

Silesia invites you to Cannes!

We would like to invite you to the meeting: "Explore Silesia: Where Economic Resilience Meets Opportunity!", held at MIPIM this Wednesday. Silesia and its metropolise are one of the fastest growing and most innovative regions in Europe. During the discussion, the roots of its success and specific future prospects will be discussed.

schedule 12 February 2024

Challenges accepted at MIPIM!

The premier real estate fair of the year is now fast approaching! On March 11–15th, at its usual grand venue of the Palais des Festivals in Cannes, MIPIM will welcome delegations from more than 90 countries to take part in an extended four-day programme of speeches, panels, awards and networking

schedule 15 November 2023

In business, we focus on long-term partnerships

Michał Ptaszyński, Country Manager Poland, Logicor, tells us optimistically about the future of the logistics industry in Poland, the company's upcoming investment plans and explain why it is worth cooperating with local communities

schedule 29 September 2023

Łódź invites you to Munich!

We cordially invite all guests of this year's Expo Real to the events organized at the stand of the Łódź City Hall, "Eurobuild" will also be there as a media patron.

schedule 25 September 2023

Grounded in experience

Justyna Cymerman, the head of the urban planning department of land transaction consultancy Greenfields, and Michał Różycki, its director of the land department – living sector, tell us about the company’s greatest achievements, the state of the market, and what needs to happen next to tackle the housing shortage

schedule 06 July 2023

A solid relationship for years

Operational and financial systems supporting property managers are constantly expanding and changing to keep up with changing market needs. Good relationships between providers and users of these systems and a willingness to face challenges together remain invaluable.

schedule 13 April 2023

Land is the key to success but requires skills

Warsaw is one of the most affordable capitals in the European Union to live in. In order to maintain its competitiveness, it is crucial to expand the availability of plots

schedule 22 December 2022

Biuro Na Miarę - more comprehensive, across Poland

The company has been strengthening its position on the commercial real estate market as a specialist consultancy providing comprehensive tenant and landlord services.

schedule 02 August 2022

New ESG Report – Atrium

Atrium European Real Estate has published its 6th ESG report summarising the company's achievements in 2021. The report details the key initiatives involved in the implementation of the its ESG strategy. The company has set new and even more ambitious medium-term targets for 2030, which include a 40 pct reduction in the carbon footprint of its shopping centres by 2030, compared to 2019 levels. By 2050, Atrium wants to have become a carbon-neutral organisation.

schedule 15 June 2022

Power is in people

SKJB Szybkowski Kuźma Jeleń Brzoza-Ostrowska is a Polish boutique legal practice that’s not only celebrating its 5th birthday this year but also its listing on the Legal 500 ranking.

schedule 04 April 2022

Coworking in Atlas Tower

In the times of uncertainty due to the pandemic situation worldwide and restrictions connected with that, co-working spaces and offices are gaining more and more popularity amongst potential tenants. Flexibility of renting terms plus tax law support for new entrepreneurs are things highly needed for small and medium businesses and these come in handy when cooperating with Twój Startup foundation.

schedule 22 March 2022

Tricity attracts with its Scandinavian climate

It will soon be two years since the first COVID-19 cases appeared in Poland. What can be said about the current condition of the office market in our country?

schedule 01 February 2022

How to return to the office in good health?

Skanska has recently carried out its third survey on the return to the office in four countries – Poland, Romania, the Czech Republic and Hungary. While previous studies have focused on the needs of employees and their expectations of offices in the new reality, this time Skanska has focused on the impact that the pandemic has had on the employees’ mental health and well-being.

schedule 08 November 2021

Sustainable attraction

"Our research shows that 65 pct of employees in the CEE region want to work in a certified sustainable office. We expect that tenants will opt to migrate to new buildings that suit their needs better", admits Paweł Warda of Skanska Commercial Development Europe

schedule 20 October 2021

MAPIC returns to Cannes

MAPIC 2021 will be held at the Palais des Festivals from Tuesday, the 30th of November, to Thursday, the 2nd December, 2021

schedule 31 August 2021

It's a comfortable life

Ziv Zviel, the CEO of Atlas Estates, tells ‘Eurobuild’ about the company’s plans for the residential sector, top investments and the future of the market

Edition 9 (301) September 2025

Latest comments

Categories

Your order
Your data
Number of access accounts
Each account provides independent access on one device. You will be able to create additional access accounts in the account settings.
Invoicing data
Order summary
Net price
Access accounts #
Net order
VAT (%)
Gross order
Payment security is ensured

Don`t miss out the current edition