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Golden year for Wrocław

Eurobuild CEE 07 August 2017
Golden year for Wrocław
Katarzyna Kubicka, regional director of Echo Investment
POLAND 2016 was a record year for new supply on the Wrocław office market – and the new space also had no problem finding tenants, accroding to research by Echo Investment.

The demand for office space last year was mostly coming from companies from the shared service sector. There are now app. 1,000 BPO/SSC centres in Poland, which are continuing to employ new, qualified people. Such companies regard regional cities such as Wrocław – currently the second most dynamically developing market in Poland – as having significant potential..

The capital of Lower Silesia is host to 34,000 employees working in 111 BPO/SSC centres. Thanks to this the city has seen an app. 70-pct increase in employment over the last three years. Among the companies opting to locate in the city are BNY Mellon, Credit Suisse, HP, Nokia Solutions and E&Y. to the main contributory factor behind this is the business-friendly approach of the city and the support it offers to foreign investors (in 2016 Forbes magazine rated Wrocław as the most business friendly Polish city).

Along with the support provided by city institutions, such as the Wrocław Conurbation Development Agency, the location of the city also plays an important role, with convenient access to Warsaw, Berlin and Prague (each less than four hours away) and direct flight connections to as many as 40 destinations. Furthermore, Wrocław is a strong academic centre with around 125,000 students graduated each year and who are potential employees of R&D or knowledge process outsourcing centres.

In 2016 the new office supply in Wrocław amounted to 139,000 sqm – 57 pct up on the previous year. In spite of the volume of such development there is still substantial demand for new office space.

“Offices are sought after by new companies entering the Polish market as well as those considering leaving their current buildings that have ceased to be suitable – in technical or functional terms,” explains Katarzyna Kubicka, the regional director at Echo Investment repsonsible for Wroclaw operations.

She points out that Echo Investment is currently carrying out two projects in Wrocław: Sagittarius Business House and West Link. Even though the two office buildings are under construction, they have already been fully leased. The developer is also in negotiations over the purchase of more plots in the city, about which we should be able to provide more details soon.

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