Public sector take-up rising on the Warsaw office market
The number of state-owned companies relying on modern office space is on the rise, reveals real estate advisory firm Savills. The public sector and state-owned firms more than doubled their share in office take-up in Warsaw in Q1-Q3 2020 compared to last year. What’s more, Savills estimates that negotiations are pending for more than the amount of office space leased by this sector in the nine months to September 2020. Q3 2020 was the first quarter on the Warsaw office market with clearly visible consequences of the economic downturn caused by the Covid-19 pandemic. Savills notes that the public sector and state-owned companies are beginning to play an increasingly important role on the office leasing market, a trend to look out for going forward. “Offices of government bodies and state-owned companies have been associated so far mainly with older buildings. However, as the market continues to grow, the public sector is increasingly opting for relocation to modern office buildings. Paradoxically,…
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