Office and warehouse sectors in Poland in good condition
Office and warehouse sectors in Poland are in good condition
Polish Commercial Real Estate Chamber asked market leaders about a summary of the first half of the year and forecasts for the end of 2020. According to the experts, office and warehouse markets in Poland are in good condition.
Value of investment transaction will exceed EUR 2 billion, however many projects were launched before March and there is no full knowledge yet about how COVID-19 will affect the market in the medium and long term. The experts predict that the valuation and transaction processes will be longer and the investors are expected to return to a more intensive activity at the end of the year.
Rafał Pomorski, CFO Globalworth Poland, was one of the experts invited to participate in the report made by the Polish Commercial Real Estate Chamber.
‘The coronavirus pandemic has an unprecedented impact on the global economy and it inevitably affects the market in which we operate. The situation is still very fluid and this is why it is very difficult to make short or long-term forecasts. There are still many questions to ask and various uncertainties about the future and about how the social distance and the home office model will affect our market. In such dynamically changing market conditions, the ability to adapt quickly is necessary to continue running business activities smoothly. At Globalworth, we focused on the preparation and analysis of different scenarios, which we can be implemented at the right time, depending on how the situation evolves. Our teams are planning and implementing all needed strategies and measures to confront the effects of the pandemic. Certainly, in the second half of the year, many mature organizations will adopt similar strategies that will focus on protecting business, assets and risk reduction, while looking for opportunities created by the new conditions.’ – says Rafał Pomorski.
You can find the full version of the report in Polish here.