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The City - March 2012

From the idea to realisation.

According to Ernst & Young’s report “As one door shuts, another opens”, it is still worth to invest in real estates. 7 European investors out of 10 believe that the debt crisis in the Eurozone will decrease the interest in real estate. More than a half think that the banks will be less eager to grant credits and mortgages. Despite that investors still believe that, in the long-run, European real estate markets are an attractive capital investment. These opinions are largely confirmed by experts present on the meeting in the Property talks cycle.  You might read the account of that meeting in this issue.

Not only is the Polish market not afraid of downturn, also Polish brands present in shopping centres conduct intensive expansion to foreign markets, often ending quite successfully. This is illustrated by brads such as Wittchen, NG2 or LPP.

It is worth having a look at the still very dynamically developing office space market in the largest cities in Poland. We will also check, whether the lack of land available for construction makes developers develop neglected post-industrial areas in Polish cities and what difficulties do such projects face.

CONTENTS

PROPERTY TALKS  
Impact of the European turmoil on the Polish Real Estate Market
On 23 February a meeting in the Property Talks cycle took place, organised by DTZ under the auspices of Dziennik Gazeta Prawna and The City magazine. The gathered guests and speakers discussed the influence of the turmoil in the European market on the commercial real estate sector in Poland....…………36

FEUILLETON
“And yet it moves!”
This phrase uttered by Galileo Galilei in the 17th century may today refer to the economy opposed to politicians and numerous media trying to make quite considerable capital out of more or less imaginary crisis. .……………41

MANAGMENT
The expansion of Polish brands – direction East
Increasingly often, Polish retail chains start their operations abroad. Currently, several dozen brands, which do their first steps in Poland, decided to start expanding into the European market. The most popular and profitable direction is Eastern and Central Europe..…………42

FEUILLETON
Emerging retail and leisure economies
At the time of writing fear stalks the developed economies of the West. Economic activity in Europe and in the US has slowed to a standstill as the sovereign debt issue has come to the fore. Investors are increasingly worried by both government solvency, and the resulting affect that attempts at austerity will have on their private sectors…….45

OFFICES
Office in post-industrial areas in 2012 – the standard or a new trend?
A survey, in which 463 Polish towns (over a half of municipalities in the country) took place in 1998, has shown that unused post-industrial areas were present in most large and mediumsized cities. After 14 years time, the post-industrial landscape in most agglomerations was replaced with modern office areas.. ……….46

OFFICES
Thriving market
Analysts agree that the nearest years will be a time of turmoil and belt tightening for European economies. It seems that while a large number of companies from real estate sector look into the future anxiously, there is a group which is not afraid about its investments in those uncertain times......49

NEWS
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