Annual Report 2018
Annual Report 2018
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Poland

The sale  of the Cedet flagship building was the highlight of 2018, and has confirmed IMMOBEL’s expertise in terms of historical building rehabilitation into mixed urban complexes, as well as the expertise of the existing teams. JACEK WACHOWICZ,
IMMOBEL CEO FOR POLAND

87,700
Total of the Polish Portfolio

31,300
Offices

676
Residential units

Residential
Offices

Market Analysis

Residential

  • Residential development completions in Warsaw were 8.7 % higher than the year before, though slowed in regional markets.
  • Values are steady in the primary market at around 2,065 EUR/m2 as of Q3 2018.
  • Residential starts counted 131,100 in 2018.

 Offices

  • Office take-up was 1.482 million m² in 2018, of which Warsaw accounted for 58 %.
  • High demand and low availability of new stock has fuelledinterest in temporary and flex office solutions.
  • Polish CRE investment volume exceeded 7.2 billion EUR in 2018, 45 % more than in 2017.

Our projects in Poland

  • Cedet - Warsaw

    22,300 M²

    Cedet - Warsaw

    On 30th of November 2018 Cedet building has been sold to a fund managed by GLL Real Estate Partners on behalf of Korean investors for 129.5 MEUR.

  • Central Point - Warsaw

    19,100 M²

    Central Point - Warsaw

    Construction started on 16 May 2018 with deep foundation works. General contractor agreement signed in December 2018.

  • Granary Island - Gdansk

    62,000 M²

    Granary Island - Gdansk

    Phase 1:

    • Start of construction works of footbridge in April 2018 - Construction works of apartments, apart-hotels and hotel are ongoing.
    • Hotel’s plot sold to UBM in May
    • Apart hotel: 82 units out of 94 are reserved/sold - Apartments: 15 units reserved/sold out of 26
    • Retail units on ground floor: 100 % sold
    • Retail units on 2nd/3rd floor: 100 % sold
    • Parking: 115 units out of 133 are reserved/sold.

    Phase 2: In development.