Poland: 50% of bankers anticipate growth in housing loans within six months

The percentage of bankers expecting an increase in housing loans for individual customers over the next six months rose to 50% in December, up from 46% in November, according to the latest “Monitor Bankowy” report published by Mind&Roses. Expectations for growth in investment loans for enterprises also climbed significantly, reaching 55% in December compared to 41% the previous month.

The survey found that 53% of respondents anticipate an increase in consumer loans for individuals in the next six months, a slight uptick from 52% in November.

“The overall customer activity index in the household credit market rose by 20 points in December, reaching 29 points. The balance of customer activity assessments for consumer credit increased by 6 points month-over-month (m/m) but dropped 3 points year-over-year (y/y). Meanwhile, the housing loan market assessment balance improved by 43 points m/m, though it remains 4 points lower y/y. The three-month forecast index for the household loan market edged up by 1 point, now standing at 41 points,” the report stated.

The corporate loan market also showed positive momentum. Growth in trade loans is now expected by 68% of bankers, up from 59% in November, while expectations for investment loan growth jumped to 55% from 41% over the same period.

“The overall activity indicator for entrepreneurs in the business loan market rose by 17 points to 19 points. For the investment loan market, the monthly activity index increased by 16 percentage points and is 21 points higher y/y. Similarly, the trading loan market index grew by 20 points m/m and 4 points y/y. The forecast index for the business operators’ loan market is up by 4 points, currently at 26 points,” the report noted.

The findings reflect increasing optimism among bankers about both household and business lending markets. The housing and consumer credit segments are experiencing steady growth, while investment and trade loan expectations indicate renewed confidence in corporate borrowing. These trends suggest a broader recovery in lending activity as the economy continues to stabilize and grow.

Source: Mind&Roses and ISBnews

7R to develop 230,000 m² cutting-edge logistics hub in Kraków’s Nowa Huta District

7R has announced its investment in the Logistics and Industrial Center “Ruszcza” in Kraków’s Nowa Huta district. The project, part of the larger “Kraków – Nowa Huta Przyszłości” initiative, aims to revitalize the district’s post-industrial landscape and align with the city’s strategic development goals.

The centerpiece of this investment, the 7R Hub, will offer 230,000 m² of low-emission, high-standard technology and production space, built to the company’s advanced 7R Green Saver standards. These standards emphasize sustainability, achieving significant reductions in CO2 emissions and energy demand.

“Kraków is where 7R began, and we are proud to contribute to the city’s ongoing development,” said Magdalena Kostjan, Head of Leasing at 7R. “The 7R Hub is a unique investment that leverages all our expertise to create opportunities for Kraków’s businesses and the logistics and industrial markets. We envision this project attracting innovative companies and investors while creating thousands of new jobs to support Kraków’s evolution into a modern and business-friendly city.”

Situated near the “Igołomska” and “Bieżanów” junctions, the hub is just 13 kilometers from Kraków’s Main Square. Its location ensures easy access to revitalized railway facilities, the A4 motorway (connecting Ukraine to Germany), and the S7 expressway (linking Kraków to Warsaw, Gdańsk, and southern Poland). Convenient public transport and regional rail connections will make the hub accessible for employees.

The 7R Hub will adhere to the highest sustainability standards, targeting BREEAM Outstanding certification. Key features include high-efficiency air-source heat pumps, photovoltaic systems with energy storage, and advanced lighting controls. These innovations promise at least a 50% reduction in operational CO2 emissions and primary energy demand compared to Polish technical standards.

The project also incorporates a comprehensive land revitalization plan. More than 1,500 new trees will be planted, including biocenotic species to enhance habitat diversity. Natural land depressions will be transformed into rain gardens, which will manage stormwater runoff, improve soil quality, and support local ecosystems.

“Rain gardens are vital for urban ecology. They retain excess rainwater, replenish local water resources, and support biodiversity by creating natural habitats for plants, insects, and small animals,” explained Marek Mazur, Development Director at 7R. These measures aim to enhance the microclimate and foster sustainable urban development.

Adjacent to the hub, 7R will create 7Relax, a green space designed for employee recreation. The area will feature artistic landscaping developed by a student from the Warsaw Academy of Fine Arts, recognized in 7R’s “Warehouse of Art: Young Art for the Planet” competition. The company also plans to implement various community initiatives in line with its sustainability goals.

The “Kraków – Nowa Huta Przyszłości” project, spearheaded by Kraków’s Municipality and the Małopolska Region, seeks to transform the Nowa Huta area into a modern urban district while preserving its industrial heritage. The 7R Hub is a key component of this vision, contributing to the economic and ecological revitalization of the region.

7R’s investment not only redefines the logistics and industrial landscape but also sets a benchmark for sustainable development and community integration in Kraków and beyond.

Retail parks set to dominate commercial expansion in 2025

The retail real estate sector in Poland continues to grow, with retail parks playing a dominant role. In 2024, a total of 337,100 m² of new commercial space was completed, encompassing 37 projects, including 35 retail parks and 12 expansions, according to Mariusz Majkowski, Director in the Sales Area Department at CBRE. This trend is expected to strengthen in 2025, with retail parks capturing a larger share of the market.

“Retail parks have been the focus of market expansion in recent years, and this trend will persist in 2025. Of the 588,100 m² of space currently under construction, more than half is dedicated to retail parks. Investors are increasingly targeting smaller markets to meet consumer demand for convenience—offering shopping closer to home and combining brick-and-mortar with online channels,” said Majkowski.

At the end of Q3 2024, Poland’s retail space totaled 14.42 million m². Shopping centers accounted for nearly 75%, retail parks for 25%, and outlets for the remaining 2%. Retail parks are expected to expand their market share as new developments increasingly focus on smaller towns, where 63% of ongoing projects are located. Of these, 69% are retail parks, reflecting their growing popularity among investors and consumers.

“Retail parks are now appearing in increasingly smaller towns, with diverse formats ranging from compact facilities combining grocery stores and drugstores to large parks offering extensive shopping options,” noted Majkowski.

Both foreign and domestic investors are fueling this growth. International capital from countries like the Czech Republic, Hungary, Israel, and South Africa has been active in the Polish market, but domestic investors are also increasing their participation. Majkowski expressed optimism about the rising role of Polish investors, not only in the local market but across the Central and Eastern European (CEE) region.

Several new brands entered the Polish market in 2024, including Dreame (China), Jack & Jones (Denmark), Made by Society and Luca (Romania), Kamalion (Spain), Arket (Sweden), TAG Heuer (Switzerland), Rebernia (Ukraine), and GAP (USA). Polish brands such as Tatuum, Half Price, and LPP are also expanding their footprint in the CEE region.

While retail park development thrives, shopping malls remain active, particularly through renovation and rebranding. Older malls, built in the 1990s, are being updated to meet current customer preferences, with boutique malls transitioning into convenience-focused centers by attracting tenants like Action and Tedi. Meanwhile, some aging malls, such as Arkady Wrocławskie and Malta, are being demolished to make way for residential or mixed-use developments.

“Thoughtful changes can give existing shopping centers a second life, allowing them to stay competitive and relevant in a rapidly evolving retail landscape,” Majkowski concluded.

Source: CBRE and ISBnews
Photo: Vendo Park, Szczecin by TREI Real Estate

Żabka opens 11,000th store, plans to continue expanding with over 1,000 new locations annually

Żabka Polska has reached a new milestone by opening its 11,000th store in Poland, located at Moliera 8 in Warsaw, near the Grand Theatre. The company reaffirmed its commitment to maintaining an ambitious expansion rate of more than 1,000 new stores annually.

“The opening of our 11,000th store is a significant moment in Żabka’s history, marking over two decades of supporting entrepreneurship and creating opportunities for local businesses,” said Adam Manikowski, Vice-President and Managing Director of Żabka Polska. “Żabka is more than a retail chain—it’s a network that invests in people, communities, and the Polish economy. With over 9,000 entrepreneurs and 63,000 jobs created through partnerships with franchisees, our stores are a testament to combining business success with a positive environmental impact.”

Żabka’s scale of operations enables it to expand its product offerings and implement innovative solutions, boosting turnover for franchisees. Its business model, which combines low entry barriers with robust operational and technological support, has attracted over 9,000 entrepreneurs, including nearly 900 in Warsaw.

The Żabka Group also operates Żabka Nano, a chain of autonomous, cashierless stores, complementing its traditional franchise-based convenience store network. Additionally, the company offers a growing portfolio of digital services, further enhancing its ecosystem.

Żabka debuted on the Warsaw Stock Exchange in October 2024 and is part of the mWIG40 index. As Poland’s leading convenience store chain, Żabka continues to strengthen its position in the market while driving local economic growth and innovation.

Source: Żabka Polska and ISBnews

DPD Polska closes 2024 with 9,000 parcel machines, plans 3,000 more in 2025

DPD Polska has expanded its DPD Pickup network to include 9,000 parcel machines, with plans to add another 3,000 machines in 2025, the company announced.

“Reaching the milestone of 9,000 parcel machines marks a significant achievement in developing modern logistics infrastructure. This expansion allows us to meet the evolving demands of e-commerce customers and manage growing parcel volumes, particularly during peak periods,” said Łukasz Zembowicz, Sales and Marketing Director at DPD Polska. “Parcel machines are a solution aligned with modern consumer trends, offering convenience, flexibility, and personalized options. The increasing popularity of our DPD Pickup network reinforces our commitment to its consistent development. Adding 3,000 more machines next year will further enhance our ability to serve our customers effectively.”

The DPD Pickup network now spans over 1,000 towns and cities across Poland, with the highest concentrations in Warsaw and Kraków. Warsaw leads the list with over 640 parcel machines, followed by Łódź with nearly 320, Kraków with over 310, Wrocław with close to 270, and Bydgoszcz with over 190.

DPD Polska is part of DPDgroup, one of Europe’s largest international courier networks. The company’s continued investment in parcel infrastructure reflects its dedication to staying ahead in the dynamic e-commerce landscape and catering to the rising demand for efficient, customer-friendly delivery solutions.

Source: DPD Polska and ISBnews

Penta Hospitals acquires SeneCura

Penta Hospitals has signed an agreement to acquire SeneCura, a network of elderly care homes. The acquisition includes both the real estate and operational assets of SeneCura, which currently manages 17 facilities offering residential and special care services with a combined capacity of 2,250 beds. The deal, announced in a press release today, is pending approval from the Czech Office for the Protection of Competition (ÚOHS), with the transaction expected to close in the coming months.

“This agreement marks a significant milestone in our long-term effort to establish a leading provider of residential social services in the Czech Republic,” said Jan Kocián, Investment Director at Penta Investments. “Our group has seen exceptional growth in recent years, differentiating itself by integrating social services with healthcare from the outset.”

SeneCura operates facilities across most regions of the Czech Republic, including locations in Prague (Klamovka, Štěrboholy, and Slivenec), as well as regional cities in Hradec Králové, Olomouc, Pilsen, and Liberec. Additional facilities are located in Kolín, Chrudim, Humpolec, Telč, Chotěboř, Havířov, and the South Bohemian Region.

Anton Kellner, CEO of SeneCura, remarked on the transition: “After building an extensive network of elderly care homes and setting new standards of care in the Czech Republic, we are passing our business to Penta Hospitals.”

SeneCura began its operations under the Senior Holding brand in 2008 before being owned by Emeis. The company emphasized that the approval process will not affect clients or operations at its facilities.

Penta Hospitals CZ is part of Penta Hospitals International, the largest healthcare holding in Central Europe. In the Czech Republic, the group operates 10 hospitals (including facilities in Sokolov, Vrchlabí, and Roudnice nad Labem), 36 Alzheimer Home facilities, three elderly care homes, numerous outpatient services, and home care providers. Employing nearly 5,000 people, the group reported a turnover of nearly CZK 6 billion in 2023.

In addition to its healthcare portfolio, Penta Investments also manages Dr.Max pharmacies, banks, and development projects. The group’s net profit grew by CZK 500 million year-on-year to CZK 12.1 billion in 2023. The primary shareholders are entrepreneur Marek Dospiva and the family of Jaroslav Haščák.

The Czech Republic faces a rapidly aging population. By 2050, the number of people over 65 is projected to increase from 2.2 million to 3.1 million, with those over 85 doubling to 400,000. In 2023, there were 522 elderly care homes and 404 special-regime facilities catering to dementia patients, providing a total of 61,106 beds for approximately 57,800 seniors—only 3% of the population over 66.

Despite growing capacity in recent years, demand continues to outpace supply. A 2035 projection highlights a potential shortfall of 15,000 beds and 16,000 care workers, underscoring the need for continued investment. In response, the Czech government recently announced plans for 20 new elderly care homes with 2,500 beds, to be funded by the Czech Insurance Association.

Penta Hospitals’ acquisition of SeneCura positions the group as a key player in addressing this pressing social need while continuing to integrate healthcare and social services.

Source: CTK

The Grounds completes successful capital increase, secures major investment from H.I.G. Capital

The Grounds Real Estate Development AG (ISIN: DE000A2GSVV5) has successfully concluded a capital increase against cash contributions, issuing 40,551,982 new shares at a subscription price of €1.00 per share. A majority of the shares—40,000,000—were subscribed by a fund managed by H.I.G. Capital, marking a significant partnership between the two entities.

The proceeds from the capital increase will be allocated to strengthen The Grounds’ financial structure, advance ongoing real estate projects, and acquire new development opportunities. The entry of the cash capital increase into the Commercial Register and the delivery of the new shares are expected by the end of January 2025.

Jacopo Mingazzini, a member of The Grounds’ Management Board, expressed optimism about the development:
“We are pleased to have secured H.I.G. Capital as a strong and reliable partner during challenging market conditions. This capital increase positions us to capitalize on opportunities in the current market landscape and sets a solid foundation for growth after two difficult years.”

The new partnership is expected to boost The Grounds’ strategic goals, providing financial stability and resources to expand its real estate portfolio.

Ahead of the capital increase, a 2:1 capital reduction was recorded in the Commercial Register on December 10, 2024. This reduced the company’s share capital to €8,902,758, divided into an equivalent number of registered ordinary shares. The share capital will now increase to €49,454,740, divided into 49,454,740 shares following the capital increase.

The adjusted shares (ISIN: DE000A40KXL9) will commence trading on December 31, 2024, following stock market holiday adjustments. Any fractional shares arising from the reduction will be credited to shareholders as partial rights under ISIN DE000A40KXM7.

H.I.G. Capital’s significant subscription in the capital increase positions it as a majority shareholder, with a stake of approximately 81.3% in The Grounds through its managed fund. This substantial change in shareholder structure highlights the importance of this transaction for the future of The Grounds.

With a revamped financial base and new strategic partnerships, The Grounds is set to drive forward its real estate initiatives. The successful capital increase also underscores the company’s resilience and ability to attract high-caliber investors in a challenging market environment.

Deka Immobilien sells prime Paris office property to CDC Investissement Immobilier

Deka Immobilien has finalized the sale of a prominent office building in Paris’s prestigious eighth arrondissement to CDC Investissement Immobilier, the property asset management arm of Caisse des Dépôts. This transaction aligns with CDC Investissement Immobilier’s core asset strategy, which emphasizes prime properties with strong environmental credentials and exceptional locations. The sale price remains undisclosed.

The Ville l’Évêque office building, spanning 4,900 square meters of leasable space, features a spacious rooftop terrace and 75 parking spaces in an underground garage. Situated in the heart of Paris’s Central Business District, the property benefits from outstanding infrastructure and accessibility. Originally built in 1977 and refurbished in 1996, Deka Immobilien acquired the building in 2000.

From 2021 to 2023, the property underwent a comprehensive core renovation following the departure of former tenant Willkie Farr & Gallagher. The building was subsequently repositioned in the market and leased to Simmons & Simmons LLP on a long-term basis at significantly higher rents. The property has earned a “Very Good” rating from BREEAM, the British certification for sustainable construction, as well as high-performance certification under HQE Sustainable Building standards.

Deka-ImmobilienEuropa, the open-ended real estate fund managing the property, achieved a notable profit through this transaction. The sale will not only contribute additional cash inflows to the fund but also enhance its capacity to seize new investment opportunities in an evolving market landscape.

This latest sale underscores Deka Immobilien’s strategic approach to optimizing portfolio value while meeting investor expectations in a competitive and dynamic real estate market.

Accolade secures largest warehouse refinancing deal in Poland for 2024

Accolade has completed a landmark refinancing deal worth €180 million for the development of six cutting-edge industrial parks across Poland. This marks the largest financial transaction in Poland’s warehouse real estate sector in 2024 and stands as one of the most significant deals in the country’s commercial property market.

The refinancing was facilitated by a consortium of Santander Bank Polska and Germany’s Aareal Bank, each contributing €90 million. This transaction is notable not only for its scale but also for Santander Bank Polska’s dual role as both a refinancing partner and the agent for loans and collateral. The funds will support the development of six Accolade Industrial Fund properties: Białystok II Park, Bydgoszcz IV Park, Goleniów Park, Koszalin Park, Zielona Góra Park, and Bydgoszcz III Park, collectively covering more than 370,000 sqm of leased space.

“This refinancing underscores the value of our portfolio, which meets tenant demand for modern and sustainable solutions. These funds provide opportunities for further growth. In 2025, we plan to invest €53 million to align Accolade parks with EU Taxonomy standards, reinforcing our commitment to long-term sustainability goals,” said Joanna Sinkiewicz, Group Commercial Director and Managing Director of Accolade Polska.

This is Accolade’s third industrial property refinancing deal in Poland and the first executed in a consortium structure.

“The participation of trusted financial partners like Santander Bank Polska and Aareal Bank in this transaction demonstrates market confidence in our ability to meet ambitious investment targets, supported by the strength of our tenants and financial institutions,” added Jakub Leszczyński, Transaction Director at Accolade.

Santander Bank Polska emphasized its focus on sustainable investments: “Supporting key clients in achieving compliance with EU Taxonomy and sustainable investment goals is a priority for us. Acting as an agent in this transaction reflects the trust and strong relationship we’ve built with Accolade since its inception in Poland,” said Bartek Barej, Director of Corporate Finance at Santander Bank Polska.

Hubert Manturzyk, General Manager of Aareal Bank for CEE, echoed this sentiment: “We are proud to increase our loan portfolio in Poland, a country with economic growth three times higher than the EU average this year. Demand for modern warehouse spaces remains robust, and we are pleased to support Accolade’s transformation of real estate into sustainable assets.”

Accolade’s Polish portfolio now includes 29 state-of-the-art industrial parks, home to over 100 tenants. The total value of the portfolio exceeds €1.2 billion, spanning more than 1.6 million sqm of space. All properties meet BREEAM certification standards, addressing growing demand for sustainable logistics, e-commerce, and manufacturing spaces. This refinancing marks another step in Accolade’s efforts to support Poland’s industrial and environmental transformation.

Panattoni secures major fashion industry tenant at Głogów Logistics Park

Panattoni has signed a lease agreement with a prominent fashion industry player for 40,000 sqm at its Panattoni Park Głogów in Lower Silesia. This marks another milestone in the developer’s extensive presence in the region, where it has delivered 2.3 million sqm of modern industrial space.

“Lower Silesia is pivotal for logistics in Poland and across Central and Eastern Europe. The growing infrastructure around Wrocław, combined with Głogów’s strategic location and investment-friendly environment, makes it a hub for international business,” said Damian Kowalczyk, Development Director at Panattoni. “This new facility will cater perfectly to the needs of our tenant, a global leader in fashion.”

Panattoni Park Głogów, which will encompass 111,000 sqm upon completion, has already developed and leased 78,000 sqm. The park’s first facility is fully occupied, including by a logistics operator servicing a leading pet store chain. Plans are underway for a second building spanning 32,000 sqm to meet growing demand.

The park’s strategic location is a key attraction. Situated just 10 km from the S3 expressway and near the proposed S12 bypass, the facility offers seamless logistics solutions for deliveries across Poland and Central and Eastern Europe. Additionally, its proximity to Poland’s southern and western borders—approximately 110 km away—enhances its appeal for cross-border operations.

Panattoni Park Głogów exemplifies sustainable industrial development. The facility is BREEAM-certified at the Excellent level, emphasizing reduced carbon emissions, lower energy and water consumption, and cost savings for tenants. Employee wellbeing has also been prioritized, with office spaces designed to optimize acoustic conditions, thermal comfort, and natural light access.

“This investment is not only about expanding logistics capabilities but also about creating a sustainable, tenant-friendly environment,” added Kowalczyk.

As Głogów cements its position as a logistics hub, Panattoni’s commitment to sustainable and strategic development continues to drive the region’s appeal to global businesses.

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