Oversupply of office space – should we be afraid?

Polish market will be flooded with hundreds of thousands of square metres of the office space. Will demand be sufficient for such a big supply?

The economic slowdown, years 2009-2010, did not hit hard the Polish office real property market. After a short period of supply stall developers have not only resumed their previously halted investment but also commenced new ones. According to Colliers International in the years 2013 and 2014 will experience an influx of possbily 1-mln square metres of new office space. However, it is important to remember that our economy is slowing down and the external demand does not even the expectations. Will our market absorb such an impressive of office space?

Participants of the sixth edition of "Biurowce w Polsce” ("Office Buildings in Poland Conference") conference, organised by Nowy Adres S.A., will attempt to find an answer to those questions. This year’s edition will the first one that will last for two days, namely 23rd and 24th of October, in Marriott Hotel, Warsaw. The event will house 40 lecturers, representing various views and opinions, as well as 250 active players on the polish office market.

The first day of the conference will be mainly focused at various factors concerning the current market situation as well as the attractiveness of polish office buildings as structured products.  During discussion boards we will listen to representatives of the biggest Polish developers, international consulting firms as well as spokespersons of banks financing commercial investments

Damian Harrington, Regional Director, Eastern Europe - Research & Consulting at Colliers International, one of the well-known experts of the European office market, will begin the second day with his lecture on the topic of „Bułgaria, Rumunia, Czechy, Ukraina - rywale Polski w walce o najemców z sektora BPO. W czym nas przewyższają, jakie są nasze przewagi?” ("Bulgaria, Romania, the Czech Republic, Ukraine–Poland’s rivals in the struggle for tenants from the BPO sector").  The following discussion boards will be concerned with, among others, adaptation of the office space accordingly to changes imposed by the increasing role of the telework, or fields of use in which older office buildings would be able to compete for tenants with the newest projects. 

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