Five times less office schemes begun in Warsaw in H1 y/y - Knight Frank

In H1, construction of 23,000 sqm of office space has been launched, compared with 113,000 sqm in a corresponding period last year, a report by Knight Frank showed. Nevertheless, "a positive signal from the market" is that the number of leases signed in the first half (for nearly 390,000 sqm) accounted for 63 percent of the total amount in 2014, Magdalena Czempińska, Head of Research at Knight Frank Poland. However, it was a result of a high number of tenders' relocations, Czempińska pointed out. In the period, the total office space in Warsaw reached 4.5 million sqm and 144,000 sqm were delivered, Knight Frank also reported.