PL

Poland Grounded in experience

Material partner
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

"Eurobuild CEE": Greenfields has been operating on the Polish market since 2005. Could you tell our readers about the market segments you specialise in?

Michał Różycki: Our company specialises in handling transactions on the land property market, mainly for multi-family housing development, and also – to a smaller extent – land transactions related to industrial, service-related and commercial development.

Justyna Cymerman: We also provide
services related to the comprehensive preparation of investment areas, including obtaining zoning decisions, environmental decisions and building permits. Recently, we have been particularly focused on obtaining decisions for locations for residential and accompanying projects (ULIMs). We also provide legal and financial
advisory services.

Which transactions that you have concluded in recent years are you particularly proud of? But naturally, only tell us if NDAs allow you to do so.

MR: There are several transactions that we are particularly proud of. One was the sale of the site in Warsaw’s Włochy district on which the Aurora residential estate with app. 900 apartments was eventually built. We recognised the potential of this plot and were able to convince developer Dantex to purchase it, which resulted in a spectacular commercial success in terms of the entire investment. Another worth mentioning was one of our largest transactions – the sale of a plot in the city’s Żoliborz district, which led to the construction of the Żoliborz Artystyczny II residential estate by Dom Development with app. 1,900 apartments. This is an example of our ability to effectively support our clients in the implementation of large investment projects. I can also reveal that we will finalise another transaction of a similar scale at the end of this or the beginning of the next year.

Another interesting case was the sale of the site an unfinished project, which started in 2004 on ul. Klimczaka in Wilanów district, and whose potential had been overlooked by investors for many years. We had confidence in the potential of this plot and were able to find the right buyer, Yareal, which then developed app. 290 apartments on it.

Finally, it is worth mentioning the transaction of a site at the junction of ul.
Narwik and ul. Lazurowa in Bemowo district, which we achieved by persuading a group of nearly 50 owners to sell each of their small plots. Once we had achieved this, we obtained a zoning decision and coordinated the process by obtaining all the arrangements, opinions and, finally, the building permit. The project was purchased by Marvipol, which then developed the Lazurowa Concept estate with 232 apartments.

JC: We shouldn’t leave out our first success in obtaining a resolution on the location of a residential investment, which – thanks to our determination and our ability to effectively negotiate with the city authorities – we were the second entity in Warsaw to obtain. This allows for the development of an intimate apartment building on ul. Gdańska in Żoliborz district.

What role do ESG concepts play in your business?

JC: We are a group of conscientious and responsible people who have been consistently incorporating environmental and social aspects into our activities, both professional and private, for many years. We implement solutions related to sustainable development and responsibility towards the natural environment as well as people and their surroundings into each development project and, from the very initial stages of the preparation of the investment, we look for solutions that minimise the impact on the natural environment and support the development of the local community.

MR: Although we are not a large corporation, our commitment to ESG aspects is a priority, and when ESG reporting obligations are applied to companies of a similar size to ours, we are well prepared for this challenge.

What other factors dominate in today’s development plot transaction market?

MR: We are currently faced with three key challenges: the limited land supply, lengthy administrative procedures and the attitude of the city of Warsaw [most of Greenfields’ transactions take place on the Warsaw market – editor’s note], which only allows for a very limited release of large sites for new development projects.

JC: Therefore, we focus on effectively managing the land that is available, taking effective administrative action and carefully planning and using our resources to make the best use of the market’s opportunities to be successful in this difficult situation.

MR: Naturally, we don’t give up so easily and never cease in our efforts to acquire more sites, which, after securing the required list of urban planning documents, we can then offer to our clients.

Are your clients often interested in brownfield sites? What are the advantages and the challenges of this
type of real estate?

JC: I can say that there is more and more interest. We currently have over 160,000 sqm of usable brownfield land contracted, for which we have obtained decisions for residential and accompanying development. What are the advantages of brownfield sites? Usually, these are plots located close to the city centre, with excellent access to public transport and with existing road and technical infrastructure, as they were once used by industry. But today they can be used for housing development.

MR: Brownfields are usually large plots of several hectares, where it is much easier to carry out fully-fledged urban planning and introduce the idea of the 15-minute city, in contrast to sites in the vicinity of high-density development. Naturally, such land also comes with certain challenges, such as the need to remove pollutants and to convince the city authorities that intensive production activity should not be carried out so close to the city centre.

JC: At the same time, brownfield development requires investment in social infrastructure. What I’m referring to is the renovation or construction of new schools or kindergartens, while also providing leisure, recreation and sports facilities as well as other places where the residents can socialise. This requires the close and intensive cooperation of the widest range of stakeholders – from the city authorities to the land owners, along with the significant participation of the local community.

Would you venture to make any forecasts regarding the land market and the prices of apartments over the coming months?

MR: Across Poland, and particularly in Warsaw, there is an acute shortage of new homes. The capital city is still drawing in new residents, while several hundred thousand refugees from Ukraine have also arrived in our city. We are also seeing a growing trend for investment purchases by funds as a hedge against inflation. On the other hand, due to the length of the administrative procedures and the increasing difficulty in getting projects launched, developers have been unable to dramatically increase the supply of new homes. We are convinced that home prices will keep going up due to the limited supply and the growing demand. We also expect that our clients will be still interested in purchasing sites for multi-family housing developments, which, given the limited supply, should result in an increase in land prices.

JC: Therefore, as a leading consultant in the land property market, we know how to provide our clients with new sites faster, along with the full quota of urban planning documents. However, this will not continue to be possible without fundamental changes in Warsaw’s development policy. We hope that the authorities will finally notice the impending home shortage crisis and this will result in the accelerated release of more land, the shortening of procedures and a more open dialogue, in which developers will no longer be perceived as a necessary evil who notoriously suffer from “pathological property development syndrome” – which is more of a myth than reality.

Latest news

Office & mixed-use development

Poland Atlas Ward is responsible for the redevelopment of V Tower

schedule 21 January 2025
Opr./edited by ANZ

Atlas Ward appointed as general contractor for the redevelopment of V Tower. The green modernization of the office building at ul. Chmielna in Warsaw has entered its decisive phase. The work began in January and is scheduled to be completed by the end of August.  

Warehouse & industrial

Poland InterPadel is the first tenant at MLP Business Park Poznań

schedule 21 January 2025
Opr./edited by ANZ

MLP Group has signed a lease agreement with a company operating a network of padel centers  in Poland. InterPadel will occupy approx. 2,800 sqm of space at MLP Business Park Poznań. The facility is scheduled for handover in December 2025. 

Warehouse & industrial

Germany Bravobike shifts into high gear

schedule 20 January 2025
Opr./edited by JC

Garbe Industrial Real Estate has concluded a rental agreement with Bravobike in Kabelsketal (Saale district, Saxony-Anhalt). The company will use a total area of approx. 23,500 sqm.

Office & mixed-use development

Poland PFR is staying in Cedet

schedule 20 January 2025
Opr./edited by JC

Companies from the PFR group, including Kuke, remain tenants of Cedet in Warsaw. The companies use a total of 9,500 sqm in the office building.

Investment & finance

Poland The French are shopping in Poland

schedule 20 January 2025
Opr./edited by JC

At the beginning of 2025, Remake Asset Management made its debut in Poland. We received exclusive commentary on the matter from Julien Lamy of Remake and Błażej Czwarnok of the Gide law firm.

Office & mixed-use development

Poland Some Oxygen for Grupa Transportowa

schedule 20 January 2025
Opr./edited by JC

Grupa Transportowa has joined the group of tenants of Oxygen Park. The new Warsaw branch of the company is located in nearly 200 sqm of office space on the ground floor of Building B.

Land acquisitions

Serbia CTP purchases land in Kragujevac

schedule 17 January 2025
Opr./edited by ANZ

CTP has strengthened its presence in Serbia with the acquisition of a significant parcel of land which will provide 50,000 sqm of lettable space in Kragujevac. 

Office & mixed-use development

Poland Grundmanna Office Park has a new tenant

schedule 17 January 2025
Opr./edited by ANZ

IT company Sopra Steria Polska will change its Katowice address in 2026. The company has signed a lease for 4,000 sqm of office space in the Grundmanna Office Park A building, owned by Cavatina Holding.

Office & mixed-use development

Poland Cushman commercialises Equal Business Park

schedule 16 January 2025
Opr./edited by ANZ

Cushman & Wakefield has been appointed as sole letting agent for three buildings of Kraków’s Equal Business Park, owned by funds managed by Apollo-Rida. 

Warehouse & industrial

Poland Construction works start on City Point Okęcie

schedule 16 January 2025
Opr./edited by JC

The joint venture between Partners Group, acting on behalf of its clients, and Peakside Capital Advisors announces the start of construction for City Point Okęcie. The urban logistics facility, spanning over 11,000 sqm, will be strategically located near Warsaw Chopin Airport.

Office & mixed-use development

Poland Matarnia Office Park is fully leased

schedule 16 January 2025
Opr./edited by ANZ

The Matarnia Office Park office complex in Gdańsk has been fully leased. The two buildings together offer more than 5,000 sqm of space. The facility belongs to the Domesta company, which is part of the Inpro capital group.

Investment & finance

Germany ECE Work & Live sells another logistics centre

schedule 16 January 2025
Opr./edited by ANZ

The state-of-the-art logistics centre near Heilbronn, Germany, which is spread across two buildings and fully let, was bought by a logistics fund of Axa IM Alts. The transaction was signed shortly before the turn of the year and is to be closed shortly.

Warehouse & industrial

Austria Demetra and Activeon join MLP Business Park Vienna

schedule 16 January 2025
Opr./edited by ANZ

MLP Group has signed two new leases at its flagship project in Vienna, covering a total of 6,700 sqm of space. A facility management company and a company affiliated with a trampoline park operator have joined the tenants.

Investment & finance

Poland Another Student Depot in Warsaw

schedule 16 January 2025
Opr./edited by JC

Kajima Europe has acquired Student Depot's third development site in Warsaw, bringing its total operated and secured buildings in Poland to 12. Warsaw Ciołka Street will provide 628 rooms and various amenities across eight floors, totalling 10,100 sqm of NLA.

Investment & finance

Germany Two hotels for Centralis

schedule 15 January 2025
Opr./edited by JC

Centralis Immobilien, an owner-managed property developer and investor, has acquired two further existing hotels in Bonn and Düsseldorf. Both properties will be modernised and strategically repositioned.

Office & mixed-use development

Poland Imagine office complex welcomes a new tenant

schedule 15 January 2025
Opr./edited by ANZ

The Polish branch of one of the leaders in the aviation industry will move to the Łódź office building Imagine, developed by Avestus Real Estate. The company has leased over 1,600 sqm of space on the fourth floor of Building A. 

Warehouse & industrial

Poland MDC2 Park Gdańsk East set to launch

schedule 15 January 2025
Opr./edited by JC

The MDC2 Park Gdańsk East warehouse and industrial complex is set to be constructed in Koszwały, near Gdańsk. The project's first phase will feature a single building with a total area of 84,000 sqm.

Warehouse & industrial

Poland Big factory, small appliances

schedule 15 January 2025
Opr./edited by JC

BSH Home Appliances Group is strengthening its operations in Poland. In Rudna Wielka near Rzeszów, Panattoni will construct a new, larger factory for the company.

Office & mixed-use development

Poland Ireland stays at Liberty Corner

schedule 14 January 2025
Opr./edited by ANZ

The Irish Embassy in Poland will remain in its current location in the Liberty Corner building in the centre of Warsaw for the next ten years. The diplomatic post has been based in the office building at ul. Mysia 5 since 2004.

Office & mixed-use development

Poland Arla Foods gets to the point

schedule 14 January 2025
Opr./edited by ANZ

Arla Global Shared Services – Arla GSS will move its local headquarters to the Punkt office building under construction in Gdańsk Wrzeszcz. The company has leased nearly 10,000 sqm of space, to which it will move in early 2026.

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

Read flipbook version

Edition 12 (294) December 2024

Latest comments

Categories

Log in

Forgot your password? Reset password

Your order

Your data
Invoicing data
Order summary
Net order
VAT (%)
Gross order
Already have an account? Log in
Payment security is ensured