The tenants are kings

The latest skyscraper projects in Warsaw are now taking shape. These include Q22 from Echo Investment and the Warsaw Spire from Ghelamco. A joint project by PHN and Hochtief Development Poland is also planned. So ‘Eurobuild CEE’ has been prompted to ask the awkward question: is there any room left for new office towers?

‘The tenants are kings’ – in my opinion this motto is the most suitable comment on the situation we are presented with. In reality it is the interest of tenants and their assessment that validates a project. Our experience shows that what companies most often appreciate is the so-called ‘2P’ (place, product) – a convenient location and a good product. By applying this rule, I can see the potential for more projects, of course at the appropriate time, with a suitable quality, and in the right location. And towers built in Warsaw’s central business district will certainly make a positive impact on the place/products interest on the market as time goes by. To cite one of our completed projects, Rondo 1: despite the fact that the building was delivered in 2006, its lease level is more than satisfactory! Why? Its excellent location on the ONZ roundabout and because it is a product of the highest quality, which has received numerous awards at Polish and international competitions, allowing us to keep current and attract new tenants interested in this desirable location.