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The total modern office space stock in the capital at the end of 2018 exceeded 5.5 million sq m. However, in 2018 on the Warsaw office market was marked by the growing supply gap. The deficit of modern office space will continue in the 2019 year, in the first quarter only 20,000 sqm has been delivered to the market.
However, development activity is high. Most of the currently constructed buildings will be delivered in 2020-2021, thus providing approximately 800,000 sq m of modern office space. The largest number of new investments is being developed in Wola near Rondo Daszynskiego.
“The supply gap growing in the office market is a temporary situation, as the activity of developers is not weakening at all, as exemplified by the scale of modern office space currently under construction. By the end of this year, approx. 180,000 sq m will be delivered on the market. However, a record increasing supply will bring the turn of 2020 and 2021. Then almost 800,000 sq m will be put into use.”- comments Martin Lipiński, Director of Office Deparment at AXI IMMO.
The largest office projects that are planned to be completed this year are, among others, the 130-meter tower of the Mennica Legacy Tower (53,000 sq m), Wola Retro office building (25,700 sq m) or Chmielna 89 offering over 24,000 sq m of modern office space.
In 2020-2021 office market in Warsaw will be enriched with office buildings such as: Varso – the highest skyscraper and also the largest project under construction, which will offer 140,000 sq m of office space, skyscrapers near the Rondo Daszynskiego such as Warsaw Hub (113,000 sq m) or Warsaw UNIT (43,500 sq m) and also ArtN (40,000 sq m) and Browary Warszawskie (50,000 sq m).
The developers of the largest investments in the capital city include Ghelamco, HB Reavis, Skanska, Golub GetHouse & Mennica Polska and Karimpol.
AXI IMMO offers consultancy services in the field of commercial real estate including the leasing and management of office and warehouse space, as well as the purchase and sale of investment land. Company also provides B2B and B2C management services. The biggest advantage of AXI IMMO is the combination of international service standards with reliable knowledge of the local market. The company received the title of the best local agency of the year for 7 consecutive years (2012-2018). AXI IMMO also received the award for the best team in the warehouse sector in 2016 and 2017. The company received the above awards in the prestigious CiJ Awards competition organized by the CEE CiJ Journal magazine.