Majority of Polish entrepreneurs say debt collection doesn’t harm business relationships

Late payments remain a persistent issue for Polish businesses, but a growing number of entrepreneurs are showing a more confident approach to debt collection. According to a survey commissioned by BIG InfoMonitor, 62 percent of entrepreneurs believe that pursuing overdue payments does not damage their relationships with contractors. This positive perception is especially strong among larger companies and those in the manufacturing and trade sectors.

While unpaid invoices continue to affect many businesses, the reluctance to recover debts due to fear of harming client relationships is becoming less common. Debt collection efforts are proving effective: the SME Scanner survey by the BIK Group, which includes BIG InfoMonitor, found that most companies (44%) failed to recover only 1–5% of their receivables last year. Another 20% reported unrecovered debts in the range of 6–10%, while 14% saw 11–20% of receivables go unpaid. Only a small fraction of businesses (4%) reported bad debts exceeding half of their invoiced amounts.

Despite these figures, 82% of entrepreneurs say they still deal with clients who don’t pay on time. Among those facing payment delays, nearly 57% acknowledge that unpaid liabilities are affecting their company’s financial health. A common cause of delayed payments is the domino effect: many companies can’t pay their own invoices because they haven’t been paid by others. However, intentional payment delays are on the rise, with more companies deliberately postponing or avoiding payment altogether.

“Financial stability is the foundation of any company, regardless of its size. Unreliable customers are a major threat to this stability,” said Paweł Szarkowski, CEO of BIG InfoMonitor. “With access to a reliable debtor database and the ability to register overdue invoices, we help entrepreneurs manage risk and recover debts more effectively. A majority of businesses confirm that such efforts don’t harm relationships with contractors.”

Debt collection efforts are typically low-intensity and non-confrontational. Entrepreneurs most often rely on phone calls (48.3%) and email or SMS reminders (47%). When delays stretch beyond two weeks, 43% of companies send formal payment reminders. Legal actions are far less common: only 8.2% pursue court cases via e-Court, and 7% enter debtors into the BIG register. Interestingly, 10% of businesses take no action at all and simply wait for payment.

When it comes to effectiveness, entrepreneurs rate phone calls as the best method of debt recovery (27%), followed by payment reminders (21.3%). E-mails, text messages (14.9%), and negotiations around instalments or extended deadlines (14.2%) are also widely used. Szarkowski emphasises that debt collection doesn’t have to be adversarial. “Preventive and amicable measures work best. Even something as simple as a formal reminder with mention of legal consequences can prompt payment without damaging a relationship,” he said.

Economic pressure from inflation, rising energy prices, and increased labour costs continues to challenge businesses. Even so, 78% of SMEs still view their financial condition as positive, with just over 18% holding a negative outlook. Yet, late payments remain a key destabilising factor: 56.9% of those affected say it has harmed their financial condition.

What’s more troubling is that not all delays are caused by financial hardship. More than 13% of respondents suspect intentional avoidance, with some viewing it as a tactic to secure interest-free credit at another company’s expense—or even as an act of extortion. “This highlights the importance of ongoing financial education and reinforcing that debt collection is a standard business practice, not a last resort,” said Waldemar Rogowski, PhD, chief analyst at BIG InfoMonitor.

According to data from BIG InfoMonitor and the BIK database, as of the end of January 2025, the total unpaid liabilities of Polish businesses to banks and suppliers exceeded PLN 44.3 billion. Nearly 333,000 companies were listed as unreliable payers, and over the past year, the total debt burden rose by almost PLN 2.7 billion, with 16,000 new companies added to the list.

Source: InfoMonitor

Union Investment and Immobilien Freistaat Bayern sign rental agreement in Munich

Union Investment has signed a long-term rental agreement with Immobilien Freistaat Bayern (IMBY) for 2,721 square metres of office space at Prinzregentenplatz 7–9 in Munich. IMBY, a commercially organised state-owned company, manages real estate assets on behalf of the Free State of Bavaria. The move is scheduled for the third quarter of this year, with the lease set to run for 15 years. The property has been part of the UniImmo: Deutschland open-ended real estate fund since 2011.

The office building is now fully let again. After former single tenant GSK (GlaxoSmithKline) reduced its space in building no. 9, Union Investment reconfigured the building for multi-tenant use. Finn GmbH occupies part of the first floor, and IMBY will now take over the remaining space on the same level. “We’ve transformed the property into an attractive, functional multi-tenant building, and are pleased to welcome IMBY as a key tenant,” said Sven Lintl, Head of Asset Management Germany at Union Investment.

IMBY’s move to Prinzregentenplatz consolidates its current Munich locations—its head office and regional office—into one. The new space significantly reduces the company’s footprint while positioning it as a forward-thinking property service provider for the Free State of Bavaria. The location offers a central address, short distances, and efficient office layouts.

“With this relocation, we’re establishing a modern work environment tailored to efficient, flexible, and networked collaboration,” said Gerhard Reichel, Managing Director of IMBY. “As part of our ‘New Working Worlds’ pilot project, we’re implementing innovative office concepts that support digitalisation and hybrid working, while also fostering in-person collaboration. Our aim is to contribute this experience to the ongoing evolution of the Bavarian government landscape.”

Located in the Bogenhausen district on the eastern side of the Isar, the Prinzregentenplatz office building offers excellent transport connections. Munich city centre is nearby, and the Prinzregentenplatz underground station is just a few metres away.

New York office market shows signs of recovery amid strong demand for premium space in 2025

In 2025, New York City’s office real estate market exhibited signs of stabilization and growth, marking a pivotal shift from previous years. Manhattan’s leasing activity experienced a notable uptick, with January alone recording 3.63 million square feet of leased space—a 24.4% increase from December and 36% above the ten-year monthly average. This surge contributed to the lowest overall availability rate since March 2021. Additionally, sublet availability decreased for the fourth consecutive month, reaching 17.19 million square feet, the lowest since October 2020. The average asking rent in Manhattan was $73.28 per square foot, reflecting a 7.8% decline since March 2020.

The demand for premium office spaces intensified, particularly in areas like Park Avenue. State Bank of India’s lease of 42,000 square feet at 425 Park Avenue led to the tower’s full occupancy, with rents in some cases exceeding $200 per square foot. This trend underscores a broader market movement where high-quality, well-located office spaces are in limited supply, prompting developers to initiate new projects to meet this demand.

Despite a general surplus of office space, there is a notable shortage of high-end, top-tier workspaces. Companies, especially in the technology and finance sectors, are seeking premium environments with amenities such as outdoor spaces and fitness centers. This specific demand has led to a scarcity in desirable locations like Park Avenue and Miami’s Brickell district, prompting major office owners to plan new developments.

Overall, the U.S. office market is poised for a new cycle, with stabilization paving the way for growth. As office attendance reaches a steady state and the economy experiences a soft landing, occupiers can engage in portfolio planning with increased confidence. This positive shift, coupled with a slowdown in new supply and declining interest rates, sets the stage for a more optimistic outlook in the office real estate sector.

Source: comp.

High office vacancy rates in Hong Kong push landlords to rethink strategies in 2025

Office landlords in Hong Kong are reassessing their leasing and asset management strategies as the city continues to grapple with persistently high vacancy rates in the commercial property sector. The shift follows another year of sluggish demand, subdued expansion from occupiers, and a growing mismatch between supply and tenant requirements.

At the beginning of 2025, the overall office vacancy rate in Hong Kong stood at approximately 15%, with some districts, such as Kowloon East, seeing vacancies climb above 20%. Central, traditionally the most sought-after office district, has also experienced rising availability, with several Grade A buildings reporting significant unlet space.

Several factors have contributed to the current situation. Hybrid work models adopted during the pandemic have become permanent for many companies, leading to a sustained reduction in space requirements. In parallel, economic uncertainty and cautious business sentiment have limited new leasing activity, especially among international firms.

Landlords are responding by offering more flexible lease terms, enhanced tenant incentives, and investing in refurbishment or repositioning strategies to make older buildings more competitive. Some are converting traditional office floors into co-working environments, while others are introducing lifestyle elements, such as wellness facilities and hospitality-inspired communal areas, to attract and retain tenants.

“There’s an increasing need to adapt existing portfolios to meet changing occupier expectations,” said Raymond Leung, a commercial real estate analyst in Hong Kong. “The era of long leases and fixed configurations is being replaced by demand for agility, better amenities, and smarter layouts.”

Developers are also adjusting future supply pipelines. Several office projects originally slated for completion in 2025 and 2026 are now under review or delayed, as landlords focus on filling existing stock before adding new inventory to the market.

Meanwhile, tenants are taking advantage of market conditions to secure better terms. High-quality office space in previously unaffordable areas is now more accessible, prompting some firms to relocate or upgrade without significantly increasing their rental costs.

Market observers note that the current pressure on landlords is accelerating a broader structural shift in the city’s office sector. “The vacancy issue is not just cyclical – it reflects deeper changes in how and where people work,” said Leung. “Landlords who adapt quickly will be better positioned in the long term.”

Although vacancy levels are expected to remain elevated through much of 2025, analysts anticipate gradual improvement if the economic outlook stabilizes and the city’s business environment becomes more active. Until then, Hong Kong’s office market is likely to remain tenant-friendly, with flexibility and value-added offerings taking priority in leasing decisions.

Source: comp.

Abu Dhabi real estate market sees record growth in 2024

Abu Dhabi’s real estate market experienced significant growth in 2024, with rising demand outpacing limited supply across both residential and office sectors. Residential rents increased by 20% year-on-year, while sales prices rose 11%, led by strong interest in villas and suburban communities. At the same time, prime office spaces reached 95% occupancy, with overall office demand pushing rents up by 11%.

The sharp growth in both sectors reflects a broader economic expansion in Abu Dhabi, supported by government-led initiatives, rising foreign investment, and ongoing efforts under the UAE’s Vision 2030 to diversify the economy. Growth in sectors such as finance, technology, and tourism has led to increased job creation, further boosting real estate demand.

Residential supply remained limited in 2024, with just over 3,000 new units delivered—46% below forecasted levels. This shortage pushed both prices and rents higher. Saadiyat Island saw the steepest rent increases, with apartment rents rising by 31%, while Reem Island and Al Raha Beach saw gains of 24% and 21%, respectively. Secondary market transactions rose by 54% as buyers increasingly sought ready-to-occupy homes.

Khalifa City stood out among villa communities, with average prices rising by 30%, reflecting growing demand for suburban living. The shift from central to mid-market and outer districts has become more pronounced as central areas grow less affordable.

In 2025, residential supply is expected to increase significantly, with 8,500 new units planned—nearly three times the 2024 total. However, demand remains high, and upward pressure on pricing is likely to persist.

Abu Dhabi’s office market also recorded one of its strongest years. Citywide office occupancy averaged 89%, with prime buildings nearing full capacity. Demand was driven in large part by the banking and finance sector, which accounted for nearly a quarter of all office space inquiries. Most new office projects expected in 2025—totalling around 104,000 square meters—are already pre-leased, suggesting continued tight conditions.

To improve market transparency and stability, the Abu Dhabi Rental Index was launched in 2024. The index aims to guide lease negotiations by providing clearer benchmarks on rental pricing. Meanwhile, ongoing reforms around freehold ownership are expected to open more investment opportunities for international buyers.

While new supply may ease some pressure in the short term, the overall outlook for Abu Dhabi’s real estate market remains strong, supported by steady economic growth and continued investor interest.

Source: Cushman & Wakefield UAE

LPP introduces clothing collection containers at all stores in response to new textile regulations

As of early 2025, LPP has introduced specially designated containers for used clothing across its entire network of stores in Poland. The initiative follows new EU regulations requiring the separate collection of textiles, which came into effect on 1 January 2025. The aim is to reduce the amount of clothing and footwear ending up in mixed waste, enabling more efficient reuse and recycling.

LPP began its clothing collection initiative in 2018, initially in a limited number of Reserved stores. Due to positive customer response, the programme gradually expanded to include House and Mohito stores, and by early 2023, was implemented in all LPP brand stores in Poland. In 2024, the project extended to several international markets.

To support the regulation and improve collection accessibility, LPP now offers customers the opportunity to donate unwanted clothing to clearly marked cardboard containers placed in over 1,000 stores of its brands, including Sinsay, Reserved, House, Cropp, and Mohito. The only exception is around 35 smaller-format stores (under 300 m²), where clothing can still be handed directly to staff at the checkout.

According to Ewa Janczukowicz-Cichosz, LPP’s sustainable development expert, the goal is to make textile recycling more accessible, particularly in smaller towns where other collection points may be limited.

The donated clothing is sent to the Social Integration Centre in Gdynia, where it is sorted under the “Sortownia” project. Items in good condition are distributed through the Society of St. Brother Albert to people in need. Clothes that cannot be reused are passed to Wtórpol, a company that processes them into secondary raw materials used in the production of cleaning cloths and alternative fuels.

Monika Lipnicka, an expert at Wtórpol, explained that sorting facilities play a key role in textile circularity, allowing used garments to be repurposed in different ways and extending their life cycle.

Beyond Poland, LPP has also implemented the clothing collection programme in the Czech Republic, Slovakia, the United Kingdom, and, as of January 2025, in Lithuania. Expansion to Bulgaria is planned in the coming months. In each country, LPP collaborates with local organisations that apply circular economy principles and technologies. One example includes upcycling textile waste into granules used to produce household items.

According to LPP, 96% of the collected clothing is reused, either as support for those in need or as material for new products. With the programme’s continued development, the company aims to make responsible clothing disposal easier and more widely available.

UOKiK launches investigation into “All Risks” property insurance practices

The President of the Office of Competition and Consumer Protection (UOKiK), Tomasz Chróstny, has initiated an investigation into the sale and marketing of property insurance policies offered under the “all risks” model on the Polish non-life insurance market.

The purpose of the investigation is to assess whether insurers may be using practices that violate consumer rights, particularly regarding how these policies are presented and sold. UOKiK will focus on whether consumers are being adequately informed about the true scope of coverage and whether the term “all risks” could be misleading.

In an “all risks” insurance model, policies are generally designed to cover a wide range of unforeseen events, unless specific exclusions are clearly listed in the contract. However, UOKiK has raised concerns that the name itself may give consumers the impression of complete protection, even when numerous exclusions apply. The investigation will examine whether these exclusions are clearly communicated, properly defined, and understandable to consumers at the time the policy is offered.

“There must be clarity between what is promised and what is delivered. Consumers have a right to transparent terms and to know precisely what risks are covered and what are excluded from an ‘all risks’ policy,” said Tomasz Chróstny.

UOKiK has previously taken actions in the insurance sector, particularly in relation to products where the actual coverage may not match the consumer’s expectations due to vague or overly broad contract terms. According to the Office, the increasing popularity of “all risks” policies may create a risk that consumers are paying high premiums while remaining unaware of significant limitations in their coverage.

As part of the investigation, UOKiK will analyse the contract clauses used in these policies and assess whether insurers are complying with consumer protection standards, including in relation to potential cases of misselling. The aim is to determine whether the use of the “all risks” label is justified and whether policyholders are being properly informed about their rights and the limitations of their insurance coverage.

EQT Consortium finalizes acquisition of Nord Anglia Education for USD 14.5 billion

EQT and a group of global institutional investors, including Neuberger Berman Private Markets, Canada Pension Plan Investment Board (CPP Investments), Corporación Financiera Alba (CF Alba), and Dubai Holding, have completed the acquisition of Nord Anglia Education. The transaction values the global education provider at USD 14.5 billion.

Nord Anglia operates more than 80 private international schools in 33 countries, serving over 90,000 students aged 2 to 18. The company is recognized for strong academic performance, with many of its graduates accepted into top-tier universities worldwide. Its approach to education emphasizes personalized learning tailored to individual student needs.

This acquisition marks a continuation of EQT’s long-standing involvement with Nord Anglia, which began in 2008. EQT strengthened its position in 2017 when CPP Investments joined as a co-investor. Since then, the company has expanded through more than 21 acquisitions and invested in digital infrastructure to support both academic delivery and operational efficiency.

The new ownership group includes a diverse mix of global financial institutions, such as sovereign wealth funds, insurers, and family offices from across Asia, the Middle East, Europe, and North America. According to EQT, the expansion of the shareholder base is intended to provide long-term capital and strategic input to support Nord Anglia’s continued development.

In recent years, Nord Anglia has partnered with institutions such as UNICEF, Juilliard, MIT, and the Harvard Graduate School of Education’s Project Zero. These collaborations are part of the company’s strategy to enhance the quality and breadth of its educational offering.

The consortium plans to support both organic growth and further acquisitions. The addition of new investors is expected to strengthen the company’s position in the international education sector and support its long-term goals.

EQT’s investment in Nord Anglia is being made through BPEA Private Equity Fund VIII. The transaction also marks an exit for the BPEA Private Equity Fund VI.

Leaders from the investor group and Nord Anglia management expressed confidence in the company’s direction. Andrew Fitzmaurice, CEO of Nord Anglia, said the new ownership would help further improve educational outcomes and expand the school network. Jack Hennessy, Partner at EQT Private Equity, stated that the investor group is committed to supporting the company’s next phase of growth.

Scott.Weber Workspace to open new location in Prague’s Anděl district

Scott.Weber Workspace is set to open its 18th location in the Czech Republic with the launch of a new flexible office centre in the IDEA Office Building, located in Prague’s Anděl district. The space will cover more than 4,100 sq m across four floors and is scheduled to open in June 2025.

The IDEA Office Building will accommodate over 520 people and includes 17 meeting and conference rooms for up to 22 participants, equipped with interactive screens and audiovisual technology. The centre will also feature an event space for up to 150 attendees, supported by VideoWall projection, catering services, technical support, and on-site event management.

The facility is designed to offer a broad range of amenities beyond office functions. These include a café area, five kitchens, a game zone with billiards, a massage room, a barber shop, and a 145 sq m atrium terrace connected to the event space and bistro. The location aims to support both professional activities and informal interactions.

The office interiors are equipped with modern technologies intended to improve comfort and productivity. Features include double glass partitions for better acoustic insulation, biophilic design elements such as indoor greenery and natural materials, and flexible layouts to accommodate various working styles—from quiet areas to collaborative spaces.

Scott.Weber will also offer on-site services such as a barista and food and beverage manager. The office design places emphasis on high-quality finishes, acoustic control, and natural light.

The building is certified under the BREEAM environmental standard, reflecting a focus on energy efficiency and sustainability. In addition, the site will host community events, well-being programmes, and informal gatherings aimed at fostering workplace interaction.

New restaurant to open at Hala Koszyki in mid-2025

A new restaurant by Warsaw-based restaurateurs Katarzyna Błońska and Tomasz Czudowski is set to open in the middle of 2025 at Hala Koszyki, one of Warsaw’s best-known culinary destinations. The concept is being developed in a newly prepared space within the historic food hall.

Błońska and Czudowski are behind several well-known gastronomic ventures in Warsaw, including Alewino, Muzealna, Café Pląs, and Café Podrygi. They are also co-founders of the Kukułka bakery brand and contributors to cultural initiatives such as Warsaw’s intergenerational dance events. Their new project at Hala Koszyki will focus on seasonal cuisine using high-quality ingredients and draw inspiration from global culinary traditions. The menu will be complemented by an extensive selection of wines, spirits, and both alcoholic and non-alcoholic beverages.

The restaurateurs noted that they had been searching for a suitable location in Warsaw’s southern city center—an area they have called home for more than two decades. They were drawn to Hala Koszyki’s combination of historical architecture and modern features, especially the inclusion of a hidden patio space that blends elements of old and new Warsaw.

The interior of the new venue is being designed by Loskiewicz Studio and will reflect both contemporary trends and architectural references to Hala Koszyki’s early 20th-century origins. Custom furniture and design elements will be incorporated to create a cohesive and inviting dining environment. The restaurant will occupy over 200 square meters and include a private garden space not previously accessible to the public.

Chef Janek Kilański will lead the kitchen. Kilański brings experience from restaurants in Spain and Denmark and has previously operated his own venue in Gdynia. The team is currently focused on final preparations, including the recruitment and development of staff.

The opening of the restaurant aligns with Hala Koszyki’s strategy of curating high-quality culinary and cultural experiences. The venue, which has hosted a variety of restaurants and events since its reopening, aims to maintain its role as a social and gastronomic hub in Warsaw.

According to Weronika Maria Kuna, Asset Management and Leasing Manager at Globalworth Poland, the addition of Błońska and Czudowski’s new concept confirms the continued appeal of Hala Koszyki as a location for established restaurateurs. She emphasized that the new restaurant will further enhance the hall’s reputation for quality dining and creative culinary projects.

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