PL

Poland Hybrid is still going strong

Office & mixed-use development
After four years of a pandemic-induced disruption it is now clear that hybrid working is here to stay. New research from Cushman & Wakefield has found that 27 pct of Polish people combine in-office attendance with home office.

The same figure for cities with a population of over 500,000 stands at 36 pct. Meanwhile, employers and property managers keep looking for ways to incentivise employees to come to the office more frequently. Employees working hybrid schedules value the office particularly for well-equipped spaces for focused work and for fostering collaboration and relationship building, reveals the report "Office or Home? What Attracts Polish Workers to the Office?". At the same time, 47 pct of respondents are against being mandated to work a fixed number of in-office days.

One in three office workers in Polish cities with a population of over 200,000 work on a hybrid basis, the survey has found. The Polish labour market has also adapted to the new expectations of some job applicants since 2020. In mid-February 2024, one in five job openings provided an opportunity to work hybrid and one in four to work hybrid or remotely - the same figures as three months earlier.

Market data confirms that there are many who split working time between an office and home, particularly in the largest Polish cities. Many employers allow such protocols, but from the point of view of organisation and corporate culture building they would prefer to see higher in-office attendance levels. That’s why we sought to find out straight from the horse’s mouth what actually attracted those working hybrid to the office. Being able to meet more coworkers face-to-face was cited by 44 pct of the survey respondents. Logistics was also very important, with ample parking spaces and the office location near a public transport stop being key to 45 pct and 28 pct respectively.
Ewa Derlatka-Chilewicz, head of Research, Cushman & Wakefield

According to Cushman & Wakefield’s data published in its quarterly reports “Poland Marketbeat”, office occupier activity in Warsaw in the last 12 months was largely driven by a trend towards optimizing and downsizing office footprints. This is borne out by the number of transactions, which was up by nearly 18 pct compared to the office take-up in the peak year of 2019. At the same time, the structure of demand in 2023 was dominated by relocations which accounted for approximately 53 pct of all deals. This shows that employers are adapting their operating models to changing market conditions, frequently prioritizing the quality over the size of the office. This in turn benefits the owners of centrally located class A office buildings meeting strict ESG requirements, both in terms of environmental aspects and employee health and wellbeing.

According to "Office or Home? What Attracts Polish Workers to the Office?", 71 pct of Polish people working hybrid value flexible work arrangements, but more than half enjoy meeting larger groups of colleagues in the office. In addition, only 12 pct would embrace working fully remote or on-site. Meanwhile, 28 pct of respondents say that human connection and social bonding have suffered as a result of off-site working.

Only some of us have the right conditions at home that foster productivity and wellbeing during work. No wonder one in three employees say that the office can offer invaluable support when they need space for heads-down work – for example, during a home renovation or other temporarily challenging living conditions.
Ewa Derlatka-Chilewicz

Office fit-out and quality were also relevant to the surveyed employees – what encouraged them to be in the office was a nice and modern office design (38 pct of respondents) and high-quality internet connectivity (35 pct). The vast majority of the survey respondents (85 pct) are open-minded about the transformation of offices so that they better address the needs of hybrid working, including a greater focus on teamwork and quiet rooms.

Our research findings on the importance of commutes, parking spaces and office uses to office workers are extremely valuable to companies that are about to decide whether to remain in their current office or to move. This is especially the case since not all employers are ready to craft workplace strategies that would take account of the analysis of employees’ needs and opinions. In such a situation, when it comes to choosing assessment categories for a new location, it is worth remembering that the advantages of the office according to Cushman & Wakefield’s respondents include access to a diverse range of F&B options (24 pct) and purified and filtered air in the building (24 pct).
Mariola Bitner, head of Workplace Strategy, Cushman & Wakefield

Latest news

Warehouse & industrial

Germany Panattoni builds for Mercedes

schedule 26 April 2024
Opr./edited by ANZ

Panattoni has started construction of the new International Consolidation Centre (ICC) for Mercedes-Benz in Bischweier.

Material partner

Poland Excellent Fern at Off Piotrkowska

schedule 04 April 2024
Eurobuild CEE

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.

Investment & finance

Poland Newgate buys from Redkom

schedule 25 April 2024
Opr./edited by ANZ

Redkom has announced that it has finalised the sale of a retail park under construction in Bielsko-Biała to Newgate Investment. The 17,000 sqm retail park is scheduled to open in November this year.

Investment & finance

Poland A window for investment opportunity

schedule 25 April 2024
Opr./edited by ANZ

Experts gathered at ULI Poland's annual Game Changers in the Real Estate World conference agreed that current market conditions are creating a window of opportunity for real estate investors willing to act quickly and thoughtfully. Smaller transactions by regional players dominate for the time being, but there is hope for a gradual return of major international players to the Polish property market.

Warehouse & industrial

Hungary iLogistic expands at CTPark Budapest West

schedule 25 April 2024
Opr./edited by ANZ

CTP has signed a lease agreement with the logistics service provider for an additional 2,000 sqm, thus the company will occupy a total of 13,000 sqm at the facility.

Retail & leisure

Slovakia Aupark goes green

schedule 25 April 2024
Opr./edited by ANZ

Wood & Company is planning the final third tranche of its acquisition of a stake in the Aupark shopping centre in Bratislava. The facility is currently undergoing an extension, which will increase its space by 6,000 sqm. In the summer, a huge green façade will be built on the new part.

Residential

Germany JTRE enters German market

schedule 25 April 2024
Opr./edited by ANZ

Slovakian developer JTRE is launching its first project in Germany. The Nordhafen Living & Office multifunctional project will be built in the Europacity area in Berlin's Berlin-Mitte district.

Investment & finance

Germany Helaba to co-finance 'Le Coeur' project for Hines

schedule 24 April 2024
Opr./edited by ANZ

Helaba will act as lead manager for its long-standing client Hines in conjunction with the three savings banks in North Rhine-Westphalia, Stadtsparkasse Düsseldorf, Sparkasse KölnBonn and Kreissparkasse Köln, to finance the construction of the 'Le Coeur' project in Dusseldorf. The project has a total lending volume of EUR 270 mln.

Warehouse & industrial

Poland Magnice will be Outstanding

schedule 24 April 2024
Opr./edited by ANZ

GLP has begun construction of the final hall of Wrocław V Logistics Centre in Magnice. The building, with an area of over 67,000 sqm, will be constructed in accordance with the requirements of BREEAM certification at the Outstanding level.

Property and Facility Management

Poland EPP takes over the management of the M1 and Power Parks

schedule 24 April 2024
Opr./edited by ANZ

EPP is taking over the management of nine M1 shopping centres and three Power Parks from Metro Properties Polska. Some of Metro Properties Polska's employees, including local property management teams will join EPP.

Retail & leisure

Czech Republic High Street’s glamour

schedule 23 April 2024
Opr./edited by ANZ

Prague is the only city in the CEE region to boast a Prime High Street, a shopping street with only the most prestigious global brands. This location is Pařížská (Paris) Street, where currently 46 out of 48 available retail units are occupied.

Retail & leisure

Poland Mitiska REIM opens its 10th Karuzela retail park

schedule 23 April 2024
Opr./edited by ANZ

Mitiska REIM has opened a new food-anchored retail park in the Polish city of Świebodzin. Developed in partnership with Karuzela Holding, this is the tenth project undertaken by Mitiska REIM and Karuzela over the past five years, with five more developments planned to open over the next two years. 

Office & mixed-use development

Poland More retail at offices

schedule 23 April 2024
Opr./edited by JC

Already 64 pct of Warsaw’s office buildings offer at least one retail or service unit, reveals Retail @ Office, the latest report from Cushman & Wakefield. With new retail supply remaining low across the capital, retailers and service providers are increasingly looking for alternative locations.

Warehouse & industrial

World Panattoni heads to the Middle East

schedule 23 April 2024
Opr./edited by ANZ

Panattoni announces its expansion into the Middle East with the launch of an operation in Saudi Arabia. The company’s initial focus is on three of the largest Saudi Arabian cities: Riyadh, Jeddah and Dammam. The move marks a milestone for Panattoni in its ambition to capitalise on emerging opportunities in key global markets in the Middle East and Asia.

Office & mixed-use development

Poland Welcome to The Shire

schedule 22 April 2024
Opr./edited by JC

The Shire - Beyond Coworking in the Warsaw Spire C building was opened according to schedule. 40 pct of the 1500 sqm of office space has been leased even before the launch.

Land acquisitions

Poland CTP grows in Poland

schedule 22 April 2024
Opr./edited by JC

CTP has expanded its Polish land bank by nearly half a million sqm. The company has purchased investment land in four locations that provide the opportunity to build approximately 200,000 sqm of leasable space.

Investment & finance

Poland Mount TFI introduces fund of global REITs to WSE

schedule 22 April 2024
Opr./edited by JC

The first fund investing in REITs, Mount Globalnego Rynku Nieruchomości FIZ, made its debut on the Warsaw Stock Exchange.

Warehouse & industrial

Poland Panattoni gets to work in Silesia

schedule 22 April 2024
Opr./edited by JC

Panattoni has begun construction on a new industrial park in Będzin. The first stage of the work, that has already been launched, will comprise a 27,500 sqm building constructed on a speculative basis.

Office & mixed-use development

Poland More companies choose Diuna

schedule 22 April 2024
Opr./edited by JC

Two more companies have become tenants of Diuna, part of the Warsaw portfolio of Syrena Real Estate and PineBridge Benson Elliot. Intrum has leased nearly 370 sqm and Carrier Chłodnictwo took up about 500 sqm in the complex.

Investment & finance

Germany Panattoni Park Voerde changes hands

schedule 19 April 2024
Opr./edited by ANZ

Panattoni has completed a sales transaction in Germany. Clarion Partners Europe has acquired a prime logistics hub for EUR 75 mln near Duisburg.

Latest in Office & mixed-use development

schedule 23 April 2024

More retail at offices

Already 64 pct of Warsaw’s office buildings offer at least one retail or service unit, reveals Retail @ Office, the latest report from Cushman & Wakefield. With new retail supply remaining low across the capital, retailers and service providers are increasingly looking for alternative locations.

schedule 22 April 2024

Welcome to The Shire

The Shire - Beyond Coworking in the Warsaw Spire C building was opened according to schedule. 40 pct of the 1500 sqm of office space has been leased even before the launch.

schedule 22 April 2024

More companies choose Diuna

Two more companies have become tenants of Diuna, part of the Warsaw portfolio of Syrena Real Estate and PineBridge Benson Elliot. Intrum has leased nearly 370 sqm and Carrier Chłodnictwo took up about 500 sqm in the complex.

schedule 16 April 2024

The Bridge has gained its height

The structure of The Bridge skyscraper in Warsaw's Wola district has reached its final height, i.e. 174 m. The builders have just completed the last technical floor. Installation and finishing works inside the facility and the assembly of the facade are in progress.

schedule 08 April 2024

Bucharest office market remains fluid and flexible

Two distinct trends have emerged in 2023: securing entry into prime new locations and optimising the portfolio through best value negotiations, all driven by a market with limited deliveries. After the first three months of this year, the office sector in Bucharest shows a positive fluctuation in terms of total leasing activity, being 71 pct higher than the same period last year.

schedule 05 April 2024

Cornerstone laid for Booster Zabrze

LemonTree, in cooperation with Commercecon, has launched the construction of Booster Zabrze following the cornerstone ceremony for the project. The mixed-use development will ultimately offer more than 100,000 sqm of retail, logistics and office space, surrounded by landscaping — accessible to both tenants and local residents.

schedule 26 March 2024

Trident is staying in Tricity

Trident BMC, which cooperates with maritime, shipbuilding and offshore industry clients, will continue as a tenant in C200 Office. It has renewed and expanded its lease to occupy more than 2,200 sqm of office space.

schedule 25 March 2024

Regional market increasingly attractive

According to the latest survey by Colliers, regional cities in the Czech Republic are becoming an increasingly interesting alternative for investors looking for cheaper, yet high quality, office space outside of Prague.

schedule 25 March 2024

Hybrid is still going strong

After four years of a pandemic-induced disruption it is now clear that hybrid working is here to stay. New research from Cushman & Wakefield has found that 27 pct of Polish people combine in-office attendance with home office.

schedule 25 March 2024

Quorum A is completed

Cavatina Holding has obtained an occupancy permit for the Quorum A office building, one of the five buildings forming a multifunctional development on the banks of the Odra River. The building provides the Wrocław office market with 18,000 sqm of space spread over 12 storeys.

schedule 21 March 2024

Die Bayerische chooses The Source 

The Empira Group has secured the insurance company die Bayerische as a long-term tenant for 11,550 sqm of commercial space in the office complex The Source, currently being modernised in Munich.

schedule 21 March 2024

11,600 sqm leased in Berlin

Sonar Real Estate, acting in its capacity as asset manager, has let around 11,600 sqm of office space in three properties in Berlin. Five leases have been agreed.

schedule 20 March 2024

Clyde & Co chooses V Tower

The British law firm Clyde & Co has commenced operations in Poland and established its office in the V Tower building in Warsaw. The company has already acquired space on the 10th floor of the building, which Cornerstone Investment Management is currently renovating.

schedule 18 March 2024

Polcast Media moves into Trinity One

Polcast Media Group, the owner of Polonia 1 television, one of Poland's oldest commercial television stations, has recently secured a lease for circa 500 sqm in Trinity One office building located in Warsaw's Służewiec district.

schedule 18 March 2024

Loftmill makes its debut in Silesia

The Loftmill label has joined the tenants of the .KTW I office building. Owned by Rise.pl, the company offers serviced offices and coworking space.

schedule 18 March 2024

Another tenant on board at Diuna

Warsaw's Diuna office complex from the Syrena Real Estate portfolio has welcomed a new tenant, JDE Peet's. The company's new 900 sqm office was designed by BIT Creative.

schedule 14 March 2024

Green light for Millennium Gardens

Revetas Capital and TriGranit have officially secured the occupancy permit for the second phase of Millennium Gardens in Budapest.

schedule 14 March 2024

Timpuri Noi Square twice as big

Vastint Romania is starting phase II of the Timpuri Noi Square project in Bucharest. After obtaining the necessary permits, the developer will construct two new office buildings, which will increase the area of the entire complex to more than 100,000 sqm.

schedule 13 March 2024

Konika Minolta stays at The Park Warsaw

Konica Minolta Business Solutions has extended its 3,000 sqm office lease at The Park Warsaw complex in the capital's Włochy district. The company will remain in the location for another five years.

schedule 11 March 2024

Historical building with a current shine

Zeitgeist Asset Management obtained new prestigious tenants. The international law firm CMS and the European Investment Bank have rented office space in the newly renovated Palác Dunaj building in the historical centre of Prague.

Edition 4 (287) April 2024

Latest comments

Categories