18th January 2012
Monday, May 21st, 2012
Record demand for office space in Warsaw last year
The biggest single contract was signed by TP, which rented 43,700 sqm in Miasteczko Orange
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The Warsaw real estate market experienced a record demand for office space last year. Demand rose 4 percent year-on-year in 2011 to reach its highest-ever level, Jones Lang LaSalle data shows.
Businesses and institutions in the capital rented a total of 573,000 sqm. The largest contract in terms of surface area was signed by Grupa TP, which rented 43,700 sqm in the Miasteczko Orange complex. Next on the list was the renegotiation of a leasing contract for Ernst & Young involving 11,000 sqm in the Rondo 1 building, followed by a lease contract for Grupa Orlen for space totaling 9,100 sqm in the Senator building.
Overall, new contracts made up 46 percent of all transactions, renegotiations 29 percent and initial contracts 29 percent.
Last year, a total of 120,000 sqm of office space was developed in Warsaw, pushing the total surface of available offices in the capital to 3.6 million sqm.
From Warsaw Business Journal
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