This is a historic moment for Krakow as the first million has just been exceeded. The city of Krakow remains the largest regional market in the country due to the resources of office space. The increasing supply of modern space is a response to the record-breaking demand for offices in the capital of Little Poland. Companies are aware of the potential of Krakow and they want to conduct their business activity in this city. Let me remind you that nearly 100 000 sq. m of office space were rented within the last six months, including our significant participation as a mediator in the transactions. The attractiveness of this city is confirmed by its eighth place in this year’s ranking – Tholons Top 100 Outsourcing Destinations – which includes locations favoring business from all over the world.
However, it has to be admitted that tenants have high expectations and thus they are not satisfied with standard solutions. They want their buildings to be distinguished and integrated with the city. In short, they want them to be places where work is a pleasure. Such space is offered by Equal Business Park in Krakow, whose exclusive agent is Knight Frank. After its completion, the total office resources of Krakow will have exceeded one million sq. m. We are very glad that we have an occasion to introduce tenants to this unique building, but it is not over. The building of the third stage of Equal Business Park started in June this year. The investment will offer 23 000 sq. m of office space – says Monika Sułdecka-Karaś, Regional Director and Partner of Knight Frank.
At present, the Krakow office market is developing very dynamically. According to the estimates of Knight Frank, the total office resources in the capital of Little Poland can exceed 1.1 million sq. m by the end of this year. There are almost 30 projects under construction right now, the total space of which amounts to over 270 000 sq. m.
Such high supply in Krakow is related to high demand for office space; lease contracts for 98 000 sq. m of office space were signed in the first six months of this year (it is over 70 per cent of the average annual volume of demand recorded in the years 2012-2016).