Warsaw is still a leader of the office market in Central and Eastern Europe due to a steady increase in economic activity as well as improved infrastructural solutions and high life quality in the city. The trust of investors can be confirmed by the decision of JP Morgan, according to which the company will enter the Polish market.
The surroundings of Daszyński Roundabout arouse great interest among both developers and investors. As Tomasz Czuba, Director of Office Space Lease Department at JLL, points out, this area may soon become a symbol of economic success of the capital.
One of the current beneficiaries of high interest among new investors is the surroundings of Daszyński Roundabout, that is one of the largest construction sites in Europe. It is confirmed by the results for the previous year. In 2017, the city center of Warsaw was responsible for 25% of demand for office space in the capital; 820 100 sq. m of offices were leased in Warsaw in that time, which constitutes the second best result in the history of the capital market. The net absorption rate has increased significantly to the record-breaking level of 360 000 sq. m – says Mateusz Polkowski, Director of Market and Consultancy Research Department, JLL.
Thanks to the popularity of the surroundings of Daszyński Roundabout among developers and investors, this area will soon become a symbol of economic success of the capital. A trend which is becoming more and more noticeable on the capital market is the demand for flexible office space. The co-working operators are developing dynamically and they are becoming important players on the office market. Warsaw is facing some challenges too, for instance, competition for employees. This process, however, has a very positive impact on the increase of demand and supply in central locations, which offer a competitive advantage in attracting talents – says Tomasz Czuba, Director of Office Space Lease Department, JLL.
While considering the demand for Warsaw office spaces, it is worth pointing out the largest lease contracts signed last year. For instance, Citi Service Center Poland leased 18 600 sq. m in Generation Park X, Millenium Bank leased 18 300 sq. m in Harmony Office Center and JP Morgan leased 15 600 sq. m in Atrium Garden.