Page 23 Poland - Your Place To Invest
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POLAND YOUR PLACE TO INVEST
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OFFICE SPACE UNDER
CONSTRUCTION (SQ M) H1 2017




800,000
700,000

600,000
500,000

500,000
400,000
300,000

200,000
100,000
0
Warsaw Budapest Dublin Berlin Prague Bucharest Frankfurt/M Krakow Bratislava Madrid Wroclaw Barcelona Tricity Lodz Poznan Lisbon Brno Cluj-Napoca Katowice






Source: PORF, JLL, Q2 2017
Note: more than 50% of the commenced in Warsaw office projects is to be delivered no sooner than in 2019-2020

The extensive amount of developer activity is mirrored by the high level of occupier activity on the Polish office market.
In particular, tenants from the modern business services sector have in the last couple years become important market
players in terms of occupied office space, mainly in the regional markets. In H1 2017, companies from that sector were
responsible for almost 60% of all take-up registered in Poland (excluding Warsaw). Poland is one of the top countries
in Europe when it comes to employment growth (currently holding eighth position in financial and business services).
This increase in headcount should have a positive impact on take-up levels and boost the expansion of services in Poland.

It is worth noting that in H1 2017 Warsaw surpassed Madrid, Frankfurt am Main, Barcelona, Dublin and Lisbon – each of which
are more mature and well established office markets – in terms of the amount of occupier activity registered. Krakow also
outstripped Lisbon in that respect.
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