Poland: Will geopolitics drive up new housing prices?

To what extent might geopolitical tensions and the associated increases in energy, fuel, and transportation prices, as well as supply disruptions, impact the new housing market in Poland? Will they translate into higher investment costs and asking prices this year? Which factors, besides inflation, will determine housing prices in the near future?

Tomasz Kaleta, Managing Director of Sales and Marketing at Develia

We are observing persistent cost pressures resulting primarily from the unstable geopolitical situation, including the protracted conflict in the Middle East, which may impact commodity and energy prices, among other factors, and investment costs. As a result, a gradual reduction in the scope for discounts in the housing market can be expected in the coming quarters.

The limited availability of attractive land in major cities and further decisions regarding interest rates may also contribute to rising housing prices. Despite the ongoing geopolitical uncertainty, the housing market remains relatively stable and customers are active. Buyers are increasingly paying attention not only to the price of the property but also to the developer’s reliability, the security of the purchase, and the standard of the investment.

Grzegorz Smoliński, Member of the Management Board of Dom Development

The geopolitical situation, including ongoing conflicts and tensions in various regions of the world, is already impacting the real estate market. We are observing that some customers are accelerating their purchasing decisions out of fear of rising inflation, which could translate into higher housing prices. At the same time, cost pressure is evident from contractors and building material suppliers. We estimate that the recent increase in investment costs has averaged around PLN 250–300 per square meter.

As a result, some developers are adjusting prices and limiting the scope of their discounts. However, it is difficult to clearly determine the exact increase in apartment prices this year, as it depends on many variables, including inflation, material costs, the labor market situation, interest rates, and companies’ approaches to launching new projects. All these elements combine to shape the current price dynamics in the primary market.

Tomasz Stoga, President of the Management Board of Profit Development

Geopolitics influences the real estate market primarily indirectly. If fuel, energy, transport, or raw material prices rise, this will sooner or later impact construction costs.

However, I would not expect dramatic increases in apartment prices resulting solely from the current geopolitical situation. Land availability, investment financing costs, new regulations, and the pace of administrative decisions will have a much greater impact. In the long term, the limited supply of apartments in attractive locations remains the biggest challenge. This will exert the greatest pressure on prices.

Zbigniew Juroszek, CEO of Atal

Construction costs were stable last year, but recently we have seen an increase averaging around 3–4% year-on-year. If the armed conflict in the Middle East continues and inflationary pressures intensify, mainly due to fuel availability and prices, these cost parameters may rise. Otherwise, we do not currently see a significant threat to construction budgets. The protective measures currently in place are providing some mitigation.

Besides geopolitical tensions, other factors are also influencing the market, affecting the cost of housing production and ultimately housing prices. For example, the temporary situation in the land market caused by planning reform and the general shortage of large, high-quality plots for residential construction.

New investments will be launched by developers on land purchased at increasingly higher prices, so it is difficult to expect a decline in new apartment prices in the future. In addition, the unpredictability of official decisions regarding permitting procedures impacts the length and certainty of the investment cycle, which also translates into higher prices.

Witold Kikolski, Member of the Management Board of MS Waryński Development S.A.

Geopolitical instability and the related fluctuations in fuel, energy, and transportation prices have a direct impact on the housing sector, as they affect the entire investment implementation chain, from the production of building materials to logistics and construction. Supply disruptions and increased operating costs naturally increase cost pressure on developers, which in the long term may be reflected in apartment prices.

At the same time, other factors, independent of inflation or the geopolitical situation, also influence price levels, including the limited availability of well-prepared development land, lengthy administrative processes, rising utility connection costs and technical requirements, and changing regulations. It is worth emphasizing that upward pressure on apartment prices stems not only from construction costs but also from the broader investment environment, over which the industry has limited influence.

Zuzanna Potrzebna, Commercial Director at Eco Classic

The primary price-setting factors in our industry are production costs, primarily the cost of land and construction. Construction costs are also influenced by fuel prices. As long as fuel prices remain regulated, it is difficult to predict their impact on construction costs.

Land supply, especially the availability of “problem-free” plots, is increasingly limited and is certainly contributing to rising apartment prices. Additionally, when preparing new general plans, cities determine the amount of land available for residential construction based on Central Statistical Office (GUS) population data. This data is 25–30% lower than figures derived from mobile phone networks or water consumption. Consequently, the plans may provide a smaller-than-needed supply of land, which could lead to further price increases.

Mariusz Gajżewski, Head of Sales, Marketing and Communication at BPI Real Estate Poland

The geopolitical situation always affects the economy, and the real estate sector remains particularly sensitive to rising energy, fuel, and logistics costs. Potential disruptions in supply chains could translate into higher prices for building materials and delays in project completion.

Housing prices are currently influenced not only by inflation and construction costs but also by land availability, new technical requirements, rising investment financing costs, and lengthy administrative procedures. All of these factors are gradually increasing the costs of new projects. However, we do not expect dramatic increases in housing prices comparable to those seen in the post-pandemic period. In the largest cities, a moderate increase in prices per square meter is possible, particularly in high-end projects and central locations.

Joanna Chojecka, Sales and Marketing Director for Warsaw, Wrocław, and Łódź at Robyg Group

The geopolitical situation is having a real impact on the real estate sector. Rising fuel, energy, and transportation prices directly affect the costs of construction materials and project implementation. Furthermore, the market remains sensitive to supply chain disruptions and financing costs.

We assume that apartment prices may continue to rise, although the scale of the increases will depend on the macroeconomic situation, interest rates, and the supply of new developments. In the largest cities, price pressure is sustained by limited land availability and lengthy administrative procedures.

Besides inflation, rising labor costs, environmental requirements, new legal regulations, and increasingly demanding technological and energy standards for buildings are also significant drivers of price increases.

Andrzej Gutowski, Sales Director at Ronson Development

In our opinion, the geopolitical situation is already affecting the housing market and project implementation costs. We can clearly see this in the new prices of construction materials and construction services. Supply chain disruptions and rising oil and transportation prices are beginning to have a real impact on construction costs, which in turn affect housing prices.

As for housing prices, the next two to three months should remain relatively stable, but a clear, albeit gradual, upward trend is already visible. Developers are introducing price increases cautiously but systematically, adapting them to rising project implementation costs. It is difficult to precisely forecast the scale of the increases, but it can be assumed that housing prices could rise by an average of around 7–8% this year. Differences will, of course, be visible across individual local markets.

Damian Tomasik, CEO of Alter Investment

The real estate market is currently reacting not only to interest rates and inflation but also to the geopolitical situation. Rising fuel, energy, and transportation prices, as well as potential disruptions in supply chains, directly affect the costs of real estate development projects.

In practice, any significant geopolitical instability translates into higher construction costs, from the transportation of building materials and logistics to the prices of raw materials and energy used during construction. Additionally, the market remains highly sensitive to debt financing costs, which have a significant impact on the final price of apartments in large-scale projects.

However, I would not expect sudden price spikes similar to those observed immediately after the outbreak of previous geopolitical crises.

Source: dompress.pl

Data4 to Invest €5 Billion in Data Centre Campus in Northern France

Data4 has announced plans to invest €5 billion in the development of a new data centre campus in Escaudain, in France’s Hauts-de-France region. The project will redevelop the former industrial site known as Parc des Soufflantes and is expected to become the company’s largest data centre campus in France.

The planned campus will provide 700 MW of capacity and is designed to support growing demand for cloud computing and artificial intelligence infrastructure. According to Data4, the development is expected to create approximately 2,400 permanent jobs once fully operational.

The project follows the company’s selection by the La Porte du Hainaut agglomeration authority in late 2025 as the exclusive partner for the redevelopment of the former Usinor industrial site.

Data4 currently operates several large-scale data centre campuses in France, including facilities developed on former industrial sites previously occupied by Alcatel and Nokia near Paris. Together, those campuses provide around 500 MW of capacity.

The Escaudain project will occupy a 33-hectare site and forms part of Data4’s broader European expansion strategy. The company has stated that it plans to invest more than €20 billion across its European campuses by 2030.

The development is being supported through France’s “fast track” programme for strategic data centre projects, an initiative established by the French government and transmission system operator RTE to accelerate the identification and preparation of suitable sites for digital infrastructure investments.

Additional studies and preliminary construction works are expected to continue over the next 12 months. The campus will eventually comprise four next-generation data centres.

According to Data4, the facilities will incorporate environmental measures including the use of low-carbon concrete and systems designed to recover waste heat generated by servers.

Hauts-de-France has become an increasingly attractive location for data centre investment due to its position between the major European digital markets of Frankfurt, London, Amsterdam and Paris, as well as its access to power infrastructure and connectivity networks.

As part of the project, Data4 also plans to establish a training and innovation centre called “Data4 For All”, which will focus on education, research and entrepreneurship in cooperation with local schools, institutions and associations.

Sequoia Office Building Reaches Construction Milestone at Prague’s Nové Roztyly Development

The Sequoia office building, being developed as part of the Nové Roztyly mixed-use project in Prague 11, has reached a key construction milestone with the completion of its foundation slab.

The project, developed by Passerinvest Group⁠ and being built by the GEMO Group, is scheduled for completion in the first half of 2028. The completion of the foundation slab follows earlier works on the excavation pit and allows construction of the underground and above-ground floors to proceed.

According to the developer, the project is being built on a sloping site with an elevation difference of up to 13 metres and below the groundwater level, presenting additional engineering challenges.

Sequoia forms part of the broader transformation of the Nové Roztyly district, where Passerinvest Group is developing a mixed-use urban area that will include office space, public areas, services, green spaces and future residential projects. The development follows the completion of the nearby office scheme, Roztyly Plaza, and is located close to the Roztyly metro station and the Krč Forest.

Upon completion, Sequoia will provide more than 33,000 sqm of office space and 375 sqm of retail space across 11 floors. The building will also include a canteen and café, shared meeting facilities with capacity for up to 200 people, rooftop terraces, private loggias and cyclist amenities.

The development will offer 488 parking spaces in underground garages, with selected spaces equipped with electric vehicle charging infrastructure.

The project is targeting BREEAM Outstanding certification and will incorporate technologies including heat pumps, photovoltaic panels and energy-efficient heating and cooling systems. Sustainability measures will also focus on indoor environmental quality, water management, biodiversity and blue-green infrastructure solutions.

Construction of the excavation pit took place between September 2025 and April 2026, during which more than 66,000 cubic metres of soil were removed. The foundation slab covers almost 5,800 sqm, has a thickness of 750 mm and required approximately 4,500 cubic metres of concrete and 720 tonnes of steel reinforcement.

The building is supported by 219 foundation piles ranging from 900 mm to 1,500 mm in diameter, with a combined length of nearly 1.6 kilometres. The underground structure has been designed to withstand groundwater conditions through the use of waterproof concrete construction and specialised sealing systems.

Globalworth Launches Educational Programme Linking Students with Employers in Wrocław

Globalworth has launched Open Learning powered by Globalworth, an educational programme in Wrocław designed to connect students, graduates and young professionals with employers and provide insights into careers in business and technology.

The initiative, developed in partnership with ChallengeRocket, was officially inaugurated on 12 June at the Ace of Space coworking facility in the Renoma complex. The programme is being implemented under the honorary patronage of Wrocław Mayor Jacek Sutryk and Lower Silesian Marshal Paweł Gancarz. The Wrocław Agglomeration Development Agency (ARAW) is serving as the programme’s strategic partner.

Over the coming months, participants will have access to a series of free masterclasses and workshops led by professionals from companies including Tauron, AXA XL, Scanway, Olympus, Olesiński & Wspólnicy, DXC Technology, Callstack and Techland. Sessions will be delivered both online and in person, taking place at Renoma and at participating companies’ offices.

According to Globalworth, the programme aims to provide young people with a better understanding of workplace environments, professional responsibilities and career opportunities across different industries. The initiative is targeted at high school students, university students and individuals entering the labour market.

Iwona Walendzik, Marketing & Communications Director at Globalworth, said the programme is intended to facilitate contact between young people and businesses while allowing companies to present their work environments, projects and organisational cultures to potential future employees.

The programme reflects a broader trend of office buildings being used for activities beyond traditional workplace functions, including networking, training and community engagement. Globalworth noted that office environments can provide opportunities for direct interaction between employers and individuals exploring future career paths.

ChallengeRocket CEO Tomasz Florczak said the initiative responds to changes in the labour market, including increasing automation, economic uncertainty and a reduction in entry-level opportunities. He noted that young people often have fewer opportunities to gain practical experience through direct contact with experienced professionals than in the past.

The programme will conclude with an autumn Skill Challenge, a practical competition in which participants will apply the knowledge and skills acquired during the workshops.

Organisers say the initiative is intended to strengthen connections between educational institutions and employers while helping participants make more informed decisions about their future careers.

ARAW Director of the Partner Projects Centre Tomasz Śpiewak said the programme aligns with efforts to support practical education and increase awareness among students of career opportunities available within companies operating in the Wrocław metropolitan area.

Wrocław was selected as the pilot location due to its large academic community and its role as one of Poland’s major centres for business services, technology and international investment.

Leading Distributor Expands Lease at MLP Bucharest West

A major FMCG distribution company operating in Romania has expanded its leased space at MLP Bucharest West, increasing its total footprint within the logistics park to nearly 16,000 sqm.

The tenant has leased an additional 5,350 sqm in the park’s C1 building, comprising 5,250 sqm of warehouse space and 100 sqm of office space. Delivery of the new premises is scheduled for the second quarter of this year. The transaction was advised by Colliers Romania.

Following the expansion, the company’s occupied space at MLP Bucharest West has grown from approximately 10,600 sqm to nearly 16,000 sqm.

Olga Melihov, Country Head Romania at MLP Group, said the transaction reflects the company’s continued focus on the Romanian market and the role of MLP Bucharest West in supporting logistics and distribution activities.

Dan Dragomirescu, Senior Associate, Industrial Agency at Colliers Romania, noted that the expansion reflects the tenant’s growing operational requirements and highlighted the logistics park’s position within the local warehouse market.

MLP Bucharest West is located in Chitila, northwest of Bucharest, with access to the capital’s ring road. The development is being built on an 18.3-hectare site and is planned to provide approximately 99,000 sqm of industrial and logistics space upon completion.

According to MLP Group, the project is being developed to Class A specifications and is targeting BREEAM certification.

Poland Seeks Greater Role in Ukraine Security Talks After Exclusion from E3 Meeting

Poland’s role in shaping Ukraine’s future security architecture has come under renewed scrutiny following its exclusion from recent talks between the leaders of the United Kingdom, France, Germany and Ukraine.

Ukrainian President Volodymyr Zelenskyy met with British Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz in London earlier this month to discuss ongoing support for Ukraine, potential pathways toward ending the war with Russia, and future security guarantees for Kyiv. The meeting highlighted the increasingly prominent role being played by the so-called E3 countries in coordinating European policy on Ukraine.

Poland, however, was not represented at the discussions despite its position as one of Ukraine’s most important allies since the start of Russia’s full-scale invasion in 2022.

Prime Minister Donald Tusk responded by emphasizing that Poland should be involved in any discussions concerning Ukraine’s future and regional security arrangements. He stated that decisions affecting Poland’s security interests cannot be considered binding if Warsaw is excluded from the process.

The development has sparked debate within Poland over whether the country is receiving sufficient political influence in return for its substantial contribution to Ukraine’s defense effort.

Since the outbreak of the war, Poland has served as one of the principal logistical hubs for military, humanitarian and economic assistance flowing into Ukraine. The country has welcomed millions of Ukrainian refugees, provided significant military aid and facilitated the transport of equipment and supplies from NATO allies. Poland was also among the first countries to transfer heavy military equipment to Ukraine.

Despite this role, recent diplomatic initiatives concerning Ukraine’s future have often been led by larger Western European powers, particularly the United Kingdom, France and Germany. Analysts note that smaller diplomatic formats are frequently used to accelerate decision-making and coordination, although such meetings do not necessarily determine the final shape of broader European or NATO policy.

The discussion has also revived longstanding questions about Poland’s strategic priorities regarding Ukraine. Areas frequently cited by policymakers and business groups include border infrastructure, trade relations, the role of Polish companies in Ukraine’s reconstruction, transport corridors, and broader security cooperation.

At the same time, Poland remains one of Ukraine’s closest partners within both NATO and the European Union. While tensions have periodically emerged over issues such as agricultural imports, transport regulations and historical disputes, cooperation between Warsaw and Kyiv continues to be a central element of regional security policy.

The episode underscores a broader challenge facing Poland as its economic and military weight grows within Europe. The country has become one of NATO’s largest defense spenders relative to GDP and is undertaking one of the continent’s most ambitious military modernization programs. The question now facing policymakers in Warsaw is how to translate that growing strategic importance into greater influence over decisions concerning the future security architecture of Eastern Europe.

As discussions about Ukraine’s long-term security and eventual reconstruction continue, Polish officials are expected to push for a more formal role in future negotiations. Whether this leads to an expanded diplomatic format remains uncertain, but the issue has highlighted Poland’s determination to ensure its interests are represented in decisions that will have lasting implications for the region.

Source: WEI

Polish Online Job Advertisements Return to Year-Ago Levels as Labour Market Recovery Remains Fragile

Poland’s online job market continued to recover in May, with the Barometr Ofert Pracy (Job Offers Barometer) recording its third increase of 2026 and the second consecutive monthly rise. The index, which tracks changes in the number of online job advertisements, climbed to 258.2 points in May from 253.5 points in April, returning to approximately the same level recorded a year earlier.

According to the report prepared by the Department of Economics and Finance at the University of Information Technology and Management in Rzeszów (WSIiZ) and the Bureau for Investments and Economic Cycles (BIEC), job postings have been recovering since February following several months of gradual decline.

After seasonal adjustments, the number of online vacancies increased across all Polish regions. The strongest monthly gains were recorded in the Podkarpackie, Lubuskie and Podlaskie voivodeships, while Opolskie saw only marginal growth.

Despite the improvement in recruitment activity, the labour market continues to show signs of weakness. Registered unemployment, excluding seasonal workers, rose by 0.1 percentage points in April to 6.0%. The number of unemployed people has increased for three consecutive months and reached its highest level since June 2021.

Researchers caution that the recent rise in vacancies should be interpreted carefully. The labour market indicator combining unemployment and vacancy trends remains in a zone associated with labour market slowdown, although it is gradually moving toward recovery territory. Analysts note that similar increases in job advertisements have occurred in previous years without developing into sustained growth trends.

The report also suggests that the modest increase in vacancies relative to the rise in unemployment could indicate that employers are replacing existing staff rather than significantly expanding their workforces.

Sector data showed improving demand for workers with science and engineering qualifications. Construction, engineering and IT-related occupations recorded some of the strongest monthly increases. The number of vacancies in construction has now exceeded levels seen before the recent correction and stands at its highest point since mid-2022. Demand for programmers and IT system administrators also improved after a period of decline.

The services sector also recorded growth in job advertisements, particularly in education, logistics and media-related occupations. In logistics, vacancies have been increasing steadily since December, although overall demand remains below historical levels. Tourism continued its recovery, with most of the declines recorded last year now reversed.

In contrast, some white-collar occupations remain under pressure. Banking, call centre services and real estate-related positions continue to experience declining long-term demand, although early signs of improvement have emerged in human resources, finance and office administration roles.

The report concludes that while hiring activity has strengthened in recent months, Poland’s labour market has yet to establish a clear and sustained growth trend, with rising unemployment continuing to weigh on the outlook.

PORR Improves EcoVadis Sustainability Rating, Retains Gold Status

Austrian construction company PORR has improved its score in the latest EcoVadis sustainability assessment, achieving 81 out of 100 points and retaining its Gold rating.

The result places PORR among the top 5% of all companies evaluated by EcoVadis globally. Within the building construction sector, the company ranks among the top 3% of assessed firms.

“The PORR has managed to further improve on its excellent results from last year. This shows that we are consistently integrating sustainability into our business activities and continuously developing our measures. I am particularly pleased that our progress is visible across all assessed areas,” said Karl-Heinz Strauss, CEO of PORR.

Compared with last year, PORR increased its overall score by four points, from 77 to 81. The company recorded improvements across all four categories assessed by EcoVadis: environment, labour and human rights, ethics, and sustainable procurement.

According to PORR, the higher rating was supported by the inclusion of its decarbonisation plan, which targets a 43% reduction in Scope 1 and Scope 2 emissions and a 25% reduction in Scope 3 emissions by 2030. The company also noted that increased transparency regarding its sustainability strategy, measures and performance indicators through CSRD reporting contributed positively to the assessment.

PORR’s environmental score increased from 83 to 86 points, while its labour and human rights score rose from 82 to 87 points. The ethics category improved from 68 to 75 points, and sustainable procurement increased from 63 to 67 points.

The company ranks among the top 3% of construction companies assessed by EcoVadis in the environmental category and among the top 1% in labour and human rights.

EcoVadis evaluates companies on sustainability performance across environmental, social, ethical and supply-chain management criteria, using international frameworks including the UN Global Compact, GRI standards and ISO guidelines.

PORR said it intends to continue improving its sustainability performance, particularly in the areas of ethics and sustainable procurement, as regulatory and market requirements continue to evolve.

Hungary Proposes Sweeping Transparency and Anti-Corruption Reforms to Unlock EU Funding

The Hungarian Parliament has introduced a legislative proposal aimed at strengthening transparency, combating corruption, and improving access to European Union funding. The bill, submitted on 9 June, proposes extensive changes across asset declarations, public procurement, anti-money laundering regulations, and the governance of public-interest foundations.

If approved, most provisions would take effect three days after promulgation, while selected measures would enter into force after 61 days.

A key element of the proposal is the overhaul of Hungary’s asset declaration system. The new framework would expand mandatory filing requirements to include a broader group of public officials, including senior political figures and board members of public-interest foundations. Declarations would be submitted electronically through an authenticated digital platform and made publicly accessible online.

The legislation also introduces more detailed reporting requirements covering a wider range of assets and liabilities, including declarations from household members. Former officials’ asset declarations would remain accessible for three years instead of one, while a new criminal offence related to non-compliance with declaration obligations could carry prison sentences of up to two years in cases involving concealment.

The proposal would significantly strengthen the powers of the Integrity Authority, positioning it at the centre of Hungary’s anti-corruption framework. The authority would be empowered to conduct asset declaration investigations, perform regular integrity reviews, access a wide range of confidential information for investigative purposes, impose administrative fines, and initiate proceedings related to public procurement disputes.

Another major provision concerns public-interest asset management foundations. Under the proposed rules, these foundations would be dissolved and their assets returned to the Hungarian state. The value of the assets expected to revert to state ownership has been estimated at approximately HUF 3 trillion.

Foundations not linked to higher education would be required to cease operations by the end of August 2026, while higher education-related foundations would have until August 2027. During the transition period, founder rights would revert to the government, and foundation board members would become subject to term limits, competitive appointment procedures, and oversight by the State Audit Office.

The legislation also introduces new measures affecting public procurement, including potential sanctions for bidders, while broadening transparency obligations for entities receiving or managing public funds. State-owned companies, public-interest foundations, and research institutions would be required to publish data regularly in a machine-readable format through the Central Information Public Data Registry, with records retained for at least ten years.

In addition, the proposal contains extensive amendments to anti-money laundering legislation. These include a broader definition of beneficial ownership, particularly affecting closed-end investment funds, enhanced due diligence requirements, and expanded access to beneficial ownership registers for authorised third parties.

The proposed reforms represent one of the most comprehensive governance and transparency packages introduced in Hungary in recent years and are widely viewed as part of the country’s efforts to address European Union concerns regarding corruption, public spending oversight, and the rule of law.

Source: CMS

Pepco Leases 51,000 sqm Distribution Centre from 7R Near Gdańsk

7R is developing a new logistics centre for Pepco in Barniewice near Gdańsk, following the signing of a long-term lease agreement for more than 51,000 sqm of warehouse and office space.

The facility will become Pepco’s sixth distribution centre in Europe and is intended to support the retailer’s continued expansion across the continent. Pepco currently operates more than 4,100 stores in 18 European markets and employs over 31,000 people.

Located within the 7R Park Gdańsk V development, the build-to-suit (BTS) facility is situated 2.5 km from the S6 metropolitan bypass, 18 km from the Deepwater Container Terminal (DCT) Gdańsk and approximately 4 km from Gdańsk Lech Wałęsa Airport’s cargo terminal. The location provides access to road, sea and air transport infrastructure, supporting Pepco’s intermodal logistics operations.

According to Pepco, the new distribution centre will strengthen its logistics network, improve operational flexibility and increase supply chain capacity in a strategically important region of Europe.

The project will include photovoltaic panels, LED lighting with DALI control systems, electric vehicle charging stations and dedicated employee parking. The building is targeting a BREEAM Excellent certification. Construction is being carried out by Mirbud.

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