Total Warsaw office stock to hit 5 million sqm in 2016

In Q1 2016, 142,200 sqm of office space was leased in Warsaw and 113,000 sqm of space in the form of six new office buildings, was delivered to market, according to consultancy JLL.  The company expects that Warsaw total office stock will exceed 5 million sqm in H2 2016. “2016 will be a very interesting year on the office market in Warsaw. For the first time in the market’s history, two office skyscrapers, both above 150 metres in height – Warsaw Spire and Q22 - will be delivered. Furthermore, total modern office stock in Warsaw will exceed the 5 million sqm mark in H2 2016," said Mateusz Polkowski, Associate Director, Research and Consulting at JLL. In Q1 2016, tenant demand in Warsaw stood at 142,200 sqm. Approximately 57,000 sqm of office space leased in Q1 came from new deals secured in existing buildings, and around 8,000 sqm from expansions.

In Q1, the Warsaw office market grew - in the form of six new office developments - by 113,00 sqm. By the end of Q1 2015, total modern office space in Warsaw was 4,751,000 sqm while a further 662,000 sqm is under construction.