Central Point office building in Warsaw secures renewable energy agreement

CP Development has signed a physical Power Purchase Agreement (PPA) for renewable energy supply for its Warsaw office building, Central Point, with advisory support from Colliers. Colliers provided services including market analysis, selection of the appropriate purchase model, and assistance with negotiation and implementation of the PPA contracts. The energy will be supplied and balanced by e.ON Polska.

The green energy for Central Point will come from two photovoltaic farms with capacities of 868 kWp and 998 kWp. This initiative places CP Development among a growing number of investors committed to reducing carbon emissions from their assets.

Mariusz Szymoński, manager of Central Point at Colliers, noted that PPAs are gaining traction in the real estate sector due to their ability to generate operational cost savings, support compliance with environmental reporting requirements, and enhance property value.

Beyond PPAs, property owners have several options for reducing carbon emissions, such as installing LED lighting, sealing ventilation ducts, implementing photovoltaic systems and heat recovery solutions, or undertaking comprehensive HVAC and thermal upgrades. Colliers conducts audits and analyses to identify which measures are suitable for specific properties.

Dariusz Chrzanowski, Director of Energy Services at Colliers, explained that the decarbonisation process involves multiple stages, including audits, strategic planning, and implementation. He also highlighted the availability of public funding, which can cover up to 75% of eligible costs, as an incentive for investors to pursue comprehensive sustainability improvements. Colliers provides guidance to property owners and managers throughout each stage of this process.

Central Point is a 21-storey building offering 18,000 square metres of office space and over 1,000 square metres of retail and service areas. Situated in the city centre at the intersection of Świętokrzyska and Marszałkowska streets, it is surrounded by significant landmarks such as the Palace of Culture and Science and the PAST building, as well as restaurants, hotels, and various cultural and sports facilities. The location benefits from extensive public transportation links, including the metro, trams, buses, and proximity to the Central Station and Warszawa Śródmieście suburban railway station.

The building was developed to high sustainability standards, earning a BREEAM Excellent certificate. It includes features such as electric vehicle charging stations, bicycle facilities with parking, changing rooms and showers, and optimised natural light access to support comfortable working conditions.

Hebe to open store in SOHO by Yareal Development in Warsaw

Yareal Polska has announced that Hebe, the retail chain owned by Jeronimo Martins, will become a tenant in the SOHO by Yareal mixed-use development currently under construction in Warsaw’s Kamionek district. The new Hebe store, covering over 320 square metres, will be located on the ground floor of the SOHO 10 building and is scheduled to open in the first quarter of 2026.

Hebe, present in Poland since 2011, offers a broad range of cosmetics and personal care products, including exclusive brands and an extensive selection of natural, Korean, Japanese, and professional cosmetics. The brand operates more than 370 stores nationwide, in both large cities and smaller towns, as well as online. The new location at SOHO by Yareal will expand Hebe’s presence in Warsaw’s Praga-Południe district.

The SOHO 10 building, situated on Żupnicza Street, is designed as part of the broader SOHO by Yareal project. The building will feature contemporary architecture with references to Kamionek’s industrial heritage, including a white façade with geometric patterns and corten steel accents in the ground-floor arcade areas. SOHO 10 is a residential building arranged in an inverted L-shaped layout, ranging from four to nine storeys, and forms part of an urban block alongside the NEFRYT apartment building, creating an internal courtyard landscaped with greenery. The building also adjoins a tree-lined square connected to a linear park, a central feature of the SOHO by Yareal master plan. Patrycja Włodarczyk of Homest participated in facilitating the lease transaction for Hebe’s new premises.

Paulina Petynka, Commercial Leasing Director at Yareal Polska, noted that the inclusion of Hebe aligns with the project’s strategy to provide a comprehensive range of services and retail offerings for residents and the surrounding community. She highlighted the balance between unique local concepts and well-known retail chains that SOHO by Yareal aims to deliver.

SOHO by Yareal is conceived as a modern local hub, integrating residential, commercial, recreational, and office spaces, all designed according to the principles of the 15-minute city concept. The development combines renovated post-industrial buildings with new construction, aiming to create a cohesive urban environment. Features such as a linear park, landscaped courtyards, terraces, and pedestrian-friendly areas promote community engagement and limit car traffic.

The project will ultimately provide over 11,300 square metres of retail and service space across multiple locations, including ground floors of residential buildings and renovated historic structures. Existing tenants and planned additions to the complex include a kindergarten, a playroom, a Carrefour store in the ‘300’ format, cafés, beauty salons, a flower shop, a bakery, and an architectural studio. Following Hebe’s opening in early 2026, Green Caffè Nero is expected to open in May 2026, and later that year, a food hub will launch in the historic building No. B.56, featuring food concepts such as Bułkę przez Bibułkę, Pollypizza Neopolitan, and Baken.

The development is progressing with ongoing renovations of historic structures and the completion of the final residential phase, including SOHO 10 and the NEFRYT building, which is expected to be finished by the end of 2025.

Services production declines slightly in April across Euro area and EU

Services production in both the euro area and the European Union decreased by 0.3% in April 2025 compared with March, according to preliminary estimates from Eurostat, the statistical office of the European Union. This decline follows growth in March, when services production rose by 0.8% in the euro area and by 0.7% in the EU.

Despite the monthly decline, services output in April 2025 remained higher than a year earlier. Compared with April 2024, production increased by 0.7% in the euro area and by 1.1% in the EU.

Within the euro area, month-on-month results varied by sector. Transportation and storage grew by 0.4%, and accommodation and food services rose by 1.1%. However, production fell in information and communication by 1.9%, in real estate activities by 0.5%, and in administrative and support services by 0.4%. Professional, scientific, and technical activities saw a modest increase of 0.2%.

In the wider EU, transportation and storage grew by 0.4%, while accommodation and food services rose by 1.0%. Declines were recorded in information and communication, down 1.5%, and real estate activities, down 0.1%. Professional, scientific, and technical activities rose by 0.5%, while administrative and support services decreased by 0.2%.

Among EU member states, the sharpest monthly declines were reported in Denmark, where services production fell by 2.1%, Slovenia with a 1.3% decrease, and Hungary with a 1.2% drop. Conversely, the strongest gains were recorded in Greece, up 4.6%, Luxembourg, up 3.9%, and Slovakia, up 2.2%.

Over the year, results were more positive. In the euro area, production remained stable for transportation and storage but increased in accommodation and food services by 2.8%, information and communication by 2.1%, real estate activities by 1.3%, and professional, scientific, and technical activities by 0.1%. Administrative and support services experienced a slight decrease of 0.2%.

Across the EU, annual figures showed increases in transportation and storage by 1.5%, accommodation and food services by 2.6%, information and communication by 2.0%, real estate activities by 0.9%, professional, scientific, and technical activities by 0.6%, and administrative and support services by 0.1%.

On an annual basis, Greece reported the strongest growth among member states with an 11.9% increase in services production, followed by Denmark at 8.1% and Lithuania at 7.9%. The largest declines were recorded in Malta, down 2.9%, Slovenia, down 2.0%, and both Bulgaria and Austria, which saw decreases of 0.8%.

Source: eurostat

Media Expert leases space at MLP Poznań logistics centre

Media Expert, Poland’s largest retailer of consumer electronics and household appliances, has leased more than 4,200 square metres of space at the MLP Poznań logistics centre. The company is set to begin operations at the new location in early July 2025. Cushman & Wakefield advised Media Expert during the leasing process.

The leased area includes approximately 4,000 square metres designated for warehousing and 180 square metres allocated for office and staff facilities. The warehouse, built a few years ago, meets high technical standards and features a practical layout and numerous loading docks on both sides of the building, supporting efficient cross-docking operations and reduced delivery times.

Media Expert operates over 600 physical stores across Poland and maintains a significant online presence through its website. Michał Mystkowski, spokesperson for Media Expert, stated that the new facility at MLP Poznań will enhance the company’s logistics capabilities, enabling faster and consolidated deliveries and improving customer service in Poznań and the Greater Poland region. He emphasised the importance of efficient logistics in supporting the company’s omnichannel strategy and maintaining competitiveness.

Tomasz Pietrzak, Leasing Director Poland at MLP Group S.A., noted that Media Expert’s decision to lease space at the MLP Poznań centre reflects the strategic advantages of the location, which is situated near the S11 expressway and approximately four kilometres from the A2 motorway, offering strong access to major transport routes across Poland.

Paulina Machałowska, Associate in the Industrial & Logistics Agency at Cushman & Wakefield, highlighted the successful collaboration between MLP Group and Media Expert, resulting in a lease agreement tailored to support transshipment operations.

Upon completion, the MLP Poznań development will offer around 90,000 square metres of warehouse and production space on a 19.2-hectare site. The project is part of MLP Group’s long-term “build & hold” strategy, ensuring that developments remain in the company’s portfolio and are managed directly, providing tenants with stable, high-quality infrastructure and ongoing operational support.

Alnatura to open Germany’s largest organic supermarket in Tübingen’s Depot Areal

Catella Investment Management GmbH (CIM) and its AIFM platform Catella Real Estate AG have concluded a long-term lease agreement with Alnatura for approximately 2,000 square meters of retail space in the Depot Areal retail park in Tübingen. The new Alnatura store, expected to open in early 2026, will become the largest organic food supermarket in Germany by floor area. The Depot site, which encompasses around 10,279 square meters of lettable space, was acquired in 2020 for the open-ended real estate special fund “IWS II – Wirtschaftsregion Süddeutschland.” The lease agreement has a 15-year term.

Alnatura, already operating in the retail park, will relocate to the new premises, effectively doubling its space. This expansion will enable the retailer to broaden its range of organic products available to customers in Tübingen. The planned supermarket will include larger sales areas, an open façade, and both indoor and outdoor seating. Sustainable features will include heating and cooling provided by a heat pump system and energy-efficient LED lighting. Additionally, Alnatura stores are powered entirely by green electricity sourced from wind and solar energy in Germany.

Michael Keune, Managing Director of Catella Investment Management, stated that Alnatura’s decision to lease a larger space underscores the attractiveness of the Depot location and contributes significantly to the continued development of the site. He added that the project aligns well with Tübingen’s focus on ecological and sustainable urban development.

Lucas Trenciansky and Valentin Fuchs, who oversee expansion and real estate at Alnatura, expressed enthusiasm for the project, noting that the new store at the Depot Areal will mark a significant milestone for the company and support its ongoing growth.

German logistics property market returns to pre-pandemic levels in early 2025

The German logistics real estate market recorded approximately 1.7 million square metres of new construction in the first half of 2025, marking its lowest half-year result in five years, according to figures released by consultancy Logivest. The data reflects projects as measured from the date of their ground-breaking ceremonies.

In the first quarter, new logistics space reached around 850,000 square metres, with the second quarter contributing just under 830,000 square metres. Logivest noted that while recent years saw half-year volumes exceeding two million square metres, the current level aligns with figures last observed before the COVID-19 pandemic. “We have simply returned to pre-coronavirus levels,” said Kuno Neumeier of Logivest, adding that the market is facing significant competitive pressure due to approximately three million square metres of grey market supply and more than eight million square metres of vacancies in existing properties.

Swabia emerged as the leading logistics region for the first half of 2025, a notable change from its usual position in the lower tier. The region recorded around 210,000 square metres of new space, already more than double its result for all of 2024. A significant driver was Dietz AG’s built-to-suit project in Langenau, delivering about 63,000 square metres for the winkler group. Additionally, Frasers Property Industrial’s speculative development in Günzburg, comprising around 50,000 square metres across several halls, contributed to Swabia’s rise.

Berlin ranked second among logistics regions, reporting approximately 190,000 square metres of new space, nearly doubling its 2024 figure. Major projects include the Panattoni Park Berlin Ost II in Grünheide, offering around 55,000 square metres, and MLP Group’s speculative development in Spreenhagen with nearly 35,000 square metres. Duisburg/Lower Rhine placed third with about 175,000 square metres, featuring the MLP Business Park Schalke as the largest single development in both the region and the country, covering nearly 72,000 square metres.

While Munich and Mitte D fell out of the top ten, the Upper Rhine region maintained its position in the upper tier, driven by Logad GmbH’s project in Neuenburg for Swiss online retailer Galaxus, adding around 65,000 square metres and expanding Galaxus’s total site to approximately 90,000 square metres.

The light industrial sector showed notable growth, reaching approximately 310,000 square metres in the first half of 2025, an increase compared to the previous year. The largest light industrial project is a 50,000 square metre facility developed by Körber Technologies in Hamburg. Logivest began tracking the light industrial segment in 2024 to reflect its growing significance in the market.

Neumeier observed that the rise in light industrial developments indicates Germany’s sustained attractiveness as a production location. However, future trends will depend on global economic conditions and policy decisions at both national and European levels.

Historic Brno Building undergoing transformation into Rezidence Korngold

A historic building near Moravské náměstí in Brno is being redeveloped into Rezidence Korngold, a project led by Brode Capital. The renovation of the structure, which dates from the turn of the 19th and 20th centuries, will create modern residential units and a retail space. The development is named after composer Erich Wolfgang Korngold, a Brno native who was born in the building in 1897.

Located at the corner of Koliště and Lidická streets, the building is being comprehensively renovated to include 37 apartments ranging from studios to three-room units, with sizes between 27 and 98 square metres. Each apartment will feature air conditioning and a storage unit. The project also includes a commercial unit and three duplex apartments added in newly constructed upper floors, offering views of Brno’s historic centre. More than half of the units have already been sold.

Erich Wolfgang Korngold, born in this building, was recognised early for his musical talent and later became a significant figure in film music in Hollywood, earning an Academy Award for his work. A commemorative plaque by sculptor Milivoj Husák marks the building at Koliště 1. The decision to name the development after Korngold was supported by his granddaughter as a way to preserve his legacy in Brno.

Brode Capital, the developer behind the project, has experience with residential developments in Brno, including the award-winning Rezidence U Vaňkovky. Zdeněk Lust, a member of the board at Brode Capital, stated that the aim was to create a project that respects the building’s history while providing functional urban housing.

The architectural design by Michal Kristen focuses on preserving original historical details while integrating modern technology and comfort. Construction is being carried out by JB Stavební, part of the Swietelsky group, with the total investment estimated in the low hundreds of millions of Czech crowns.

Rezidence Korngold is situated in an area with convenient access to cultural venues, public amenities, and key urban infrastructure, including the Janáček Theatre and St. Thomas Church. Construction began in September 2024, with completion and occupancy scheduled for April 2026. The development will offer modern living in central Brno for individuals, couples, and families seeking quality housing in a location with historical significance.

Knight Frank Poland appoints Aneta Nougarou as Chief Financial Officer

Knight Frank has announced the appointment of Aneta Nougarou as Chief Financial Officer (CFO) for its Polish operations. As a member of the management board, she will be responsible for developing the company’s financial strategy, overseeing financial operations, and supporting the organisation’s ongoing growth.

Aneta Nougarou brings more than 15 years of experience in finance, strategic planning, reporting, and implementing IT solutions. Her career has included roles in financial management across Central Europe, with responsibilities spanning controlling, budgeting, accounting, and restructuring regional finance functions. She spent a significant part of her career at Unibail-Rodamco-Westfield, managing financial operations for assets such as Westfield Arkadia, Westfield Mokotów, Galeria Wileńska, and Centrum Ursynów in Warsaw, as well as Wroclavia in Wrocław.

In her role at Knight Frank, Nougarou will oversee financial performance analysis, budget planning, and the optimisation of financial processes. She will also lead initiatives focused on enhancing reporting systems and developing financial technologies to support the company’s strategic objectives.

Knight Frank has operated in Poland for over 30 years, providing services in investment advisory, valuation, and leasing and sales brokerage. The Polish office employs more than 80 real estate professionals, with plans for further growth.

Commenting on her new role, Aneta Nougarou said she looks forward to contributing her expertise to support Knight Frank’s operations and strategic decision-making in Poland and across Europe.

Developers reassess plans as building permits decline and project timelines shift

The number of building permits issued and housing projects started is declining, raising questions about whether developers are adjusting their plans and delaying the completion of new investments, and if so, why; the article includes comments from companies addressing these issues and provides insight into which projects are expected to enter the market later this year

Zbigniew Juroszek, President of the Management Board of Atal
We are constantly launching new projects or subsequent stages of existing housing estates, with several investments planned for this year. Our investment activity results from the scale on which we operate in the eight largest Polish markets and from our strategy. It assumes an intensified market presence at the expense of smaller and medium-sized players who have not launched or started any new investments for two years. This is an opportunity for us to increase our market share. We are consciously preparing for the recovery, which we believe will begin in the second half of this year and last until 2026-2027.

The launch of many new development projects in the last several months was also due to the availability of subcontractors and construction material prices. This protects us from the cost impact that may occur in connection with the launch of the National Recovery Plan and other EU funds, as well as the start of large infrastructure projects.

Tomasz Kaleta, Managing Director for Sales and Marketing at Develia
We are launching all projects on schedule, and some are even ahead of schedule. Any delays are due to prolonged administrative procedures.

This year, we plan to expand our offer in Gdańsk by launching the next stage of the Południe Vita housing estate in Gdańsk and two completely new investments. We will also offer our customers the next stages of projects in Warsaw’s Bemowo district and the Central Park housing estate in Krakow. Our goal for this year is to launch a total of 3,100-3,300 apartments and commence construction.

Renata Mc Cabe-Kudla, Country Manager at Grupo Lar Polska
The time needed to obtain a building permit in Warsaw has increased significantly in recent years, due to environmental decisions, road agreements and other factors related to, for example, the infrastructure accompanying the investment. This has a significant impact on the number of building permits issued. We believe that the processing of building permits will accelerate in the coming years, which will allow us to increase our offer to customers. We plan to launch one new investment this year and at least three next year.

Marcin Malka, President of the Management Board of Real Management S.A.
The single-family home market is not as susceptible to economic changes, but of course we feel the indirect impact of the cooling mood in the entire housing sector. This affects project management, but does not cause changes in schedules or start dates for new investments. From our perspective, the length of the investment preparation process and the associated extensive bureaucracy remain a greater challenge. We are currently in the second stage of the Neo Natolin single-family housing estate. We are also preparing further stages comprising 130 houses with a total living area of 30,000 sq m.

Joanna Chojecka, Sales and Marketing Director for Warsaw and Wrocław at the Robyg Group
According to available market data, there has been a noticeable decline in the number of building permits issued and new investments launched. This is due to, among other things, uncertainty related to construction costs, rising material prices and limited access to financing on the part of buyers, especially in the last dozen or so months, when the mortgage market was under considerable pressure.

However, we take a long-term and strategic approach to investment planning. We are a large, stable organisation with experience and resources that allow us to carry out new projects even in less favourable market conditions. Instead of halting development, we are adapting our activities to the changing reality. We analyse local demand, manage schedules flexibly and respond to market signals.
In 2025, we plan to launch further residential investments, both in Warsaw and in other large cities. Our actions are consistent with the assumption that, despite temporary slowdowns, the housing deficit in Poland, especially in the largest agglomerations, remains significant. This means that the demand for new flats will not disappear, but will actually grow.

When deciding to launch new projects, we are always guided not only by profitability analysis, but also by the needs of future residents. The investments we are planning today will respond not only to demand, but also to new expectations, such as sustainable development, energy efficiency, access to green spaces and extensive social infrastructure.

In total, in 2025, the TAG Group in Poland will have approximately 7,300 residential and commercial units under construction. The Group’s portfolio of rental apartments amounted to over 3,350 units. Currently, ROBYG has approximately 1,900 units on offer. In the first quarter of 2025 alone, new stages comprising 1,100 apartments were added to the offer, including in the following investments: Modern City and Modern Life in Warsaw, Początek Piątkowo in Poznań, and Leszczyńskich and Szumilas in Gdańsk. In addition, we have building permits for approximately 2,100 units.

Andrzej Gutowski, Sales Director, Ronson Development
We are observing that in the current market conditions, developers are delaying the start dates of new investments. The process of obtaining the required permits and administrative decisions is not getting any shorter – on the contrary, it is often getting longer. We have been drawing attention to this problem for a long time. The lack of real systemic measures, such as simplifying administrative procedures or speeding up the issuance of decisions, significantly limits developers’ ability to respond quickly to market needs.

Nevertheless, there are first signs of recovery, including movements in interest rates, which may have a positive impact on investment activity in the medium term. We expect that the turn of 2025 and 2026 will bring greater momentum to the market, provided that the scale of activities is adjusted to the absorption capacity of individual local markets.

Despite the difficult conditions, we plan to launch new projects. In Warsaw, we are continuing the Zielono Mi II investment and starting new projects in Bemowo and Białołęka. In Wrocław, we are preparing to launch a new project, while in Poznań and Szczecin we are developing the next stages of existing investments.

Mariusz Gajżewski, Head of Sales, Marketing and Communication, BPI Real Estate Poland
We do not intend to change our plans to continue our operations in the residential real estate market. We will focus primarily on the implementation of premium and high-standard investments, which, thanks to a strong emphasis on the quality of finish, excellent location and high energy efficiency, remain the preferred choice among buyers and are more resistant to fluctuations in demand. We are actively working on acquiring new plots for future investments in Warsaw, where we are continuing the implementation of our latest project, PianoForte, near Morskie Oko Park and Łazienki Królewskie. We are also preparing to launch a new multi-stage project in the Tri-City later this year, which, depending on the stage of development, will have mixed functions and offer both high-standard and premium premises.

Damian Tomasik, President of the Management Board of Alter Investment
We are currently observing a decline in the number of building permits issued and residential projects launched. This is primarily due to high construction costs and restrictions on access to mortgage loans. However, our strategy is to actively seek new, attractive locations and flexibly adjust our investment schedules to the real needs of the market.

We have recently finalised the purchase of land in the centre of Władysławowo. We plan to launch this land on the market before the summer holidays. It is an attractive proposition for both investors and individual customers looking for unique locations by the sea. At the same time, we are preparing another project – a building for institutional rental (PRS) in Gdańsk, in an excellent location at the new tram terminus on Warszawska Street. This investment responds to the growing demand for modern rental premises in the city’s dynamically developing districts.

Despite market challenges, we are maintaining our investment activity and responding flexibly to the changing economic environment. We believe that this will enable us to keep our offer attractive to a wide range of customers.

Jacek Bugajski, Project Development Director at Archicom
Despite the challenges, we are consistently implementing our growth strategy and launching new projects. This year, we have already started sales of further stages of the Modern Mokotów housing estate in Warsaw and Zenit in Łódź, as well as new projects such as Gutenberg Apartments as part of Towarowa 22 in Warsaw, the 29L investment in Krakow and Esencja II in Poznań.

We constantly analyse local demand and the macroeconomic environment, and we make investment decisions taking into account the potential of a given market. We have an extensive land bank and strong financial backing, which allows us to remain ready to launch new investments. We adjust the pace of their launch to the realities, not only of the market, but also of the administrative environment. We are observing a significant lengthening of procedures, such as obtaining building permits, which is affecting implementation schedules across the entire industry.

Source: dompress.pl
Photo: Bukowinska Mokotow – Matexi Polska

Grid Dynamics leases space in Warsaw’s Skyliner office building

Grid Dynamics, a global digital engineering company listed on the NASDAQ stock exchange, has leased a full floor of office space in the Skyliner complex in Warsaw. The company has taken approximately 1,500 square metres in the building’s first phase, developed by Karimpol Group at Daszyńskiego Roundabout.

Grid Dynamics provides digital engineering services, including artificial intelligence implementation, application modernisation, and cloud architecture solutions for clients in sectors such as retail, finance, technology, and healthcare. The company is expanding its presence in Europe, identifying Warsaw as an important market.

Sergii Taradai, Senior Director of Global Real Estate & Facilities at Grid Dynamics, noted that the firm sought office space that aligns with its focus on innovation and modern workplace standards, which Skyliner was able to provide.

The Skyliner complex consists of two phases. The first tower, completed in January 2021, offers 45,000 square metres of office space and holds a BREEAM Excellent certification. It operates entirely on renewable energy. Construction of Skyliner II began in February 2024, with completion planned for late 2026. The second tower will stand 130 metres tall, with 28 floors and 24,000 square metres of leasable space, primarily offices. Ground-floor retail and service units will cover nearly 1,000 square metres, while the upper floors will feature terrace gardens totalling around 900 square metres. The development has received an Outstanding BREEAM rating, and renewable energy will also be used to power the building.

The main contractor for the second phase is WARBUD S.A., with architectural design by APA Wojciechowski Architekci. CBRE Polska is managing the commercialisation of the new phase. Karimpol was advised by Argon Legal during the lease process with Grid Dynamics.

Grid Dynamics is the tenth technology-focused tenant to join the Skyliner complex, which has become a notable location for IT, high-tech, and AI businesses in Warsaw.

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