September 13, 2018

2.5 million sqm of office space now occupied by business services centres in Poland

2.5 million sqm of office space now occupied by business services centres in Poland

Business services centres occupy more than 2.5 million sqm on the Polish office market, according to new estimates by JLL. Traditionally, business services sector has the highest percentage of occupied office space in Kraków (61 percent).

“Today, business service centers occupy more than 2.5 million sqm of modern office space, accounting for 28 percent of occupied supply on the Polish market. Judging by the high investment activity of business services centres, the next few months will see them further cementing their position as leaders on the Polish office market. According to ABSL, employment in business services centers stands at nearly 280,000 people, with the prospect of another 60,000 jobs being added in the next two years. Such rapid development will generate further demand for space. This is of course excellent news for developers operating on the Polish market," comments Anna Młyniec, Head of Office Agency and Tenant Representation at JLL.

According to data from JLL, Kraków, as previously mentioned, accounts for the sector's largest share of occupied office space in a Polish city (61 percent). Łódź takes second place with 51 percent, followed by Wrocław and Katowice with 49%. Interestingly, in Warsaw, the share of the services sector in occupied office space is now 11 percent, which is a two p.p. increase on the same period last year - an impressive number when you consider the scale of the capital's market.

“We expect that the number of companies from the business services sector investing in Warsaw will grow. Company debuts on the city's market such as JP Morgan and Goldman Sachs are important signals for international investors who provide advanced financial services. It shows that the Warsaw market is very much in expansion mode. The investment attractiveness of Polish cities continues to grow and this factor combined with the efforts of local authorities, the changes in urban infrastructure ,and an improvement in the quality of life are all conducive to this process,” explains Mateusz Polkowski, Head of Research & Consulting, JLL.

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