C&W: Warsaw office stock up by 350,000 sqm in H1

Sixteen office buildings comprising a combined 350,000 sqm were completed in Warsaw in H1 2016, bringing the total modern office stock in the city up to almost 5 million sqm, according to a recent report by Cushman & Wakefield. Approximately 100,000 sqm is scheduled for completion in H2 2016, which will bring the annual supply to a new record high of 450,000 sqm. The largest Warsaw office completions in H1 2016 included Ghelamco’s Warsaw Spire A (59,000 sqm), HB Reavis’ Gdański Business Center 2 (49,000 sqm) and Echo Investment’s Q22 (46,400 sqm). The first half of the year also saw strong leasing activity in Warsaw, with a total of 360,000 sqm transacted in the city over the period, a level similar to that recorded in the first half of the record-breaking year of 2015. Net absorption amounted to 133,000 sqm.