25
Annual Property
market Convention
26 November 2019
Krakowskie Przedmieście 42/44, Warsaw, Hotel Bristol a luxury collection hotel

It’s been another excellent year for the Polish real estate market, and the overall good mood has not even been dampened by the occasional signs of a possible cooling of the economy. But are we going to be able to say the same next year? For now, however, buildings are still going up and the banks are still lending. So let’s get together, share our thoughts, and find out what the forecasts are – from the market elite who have been regularly attending the Eurobuild annual convention for the last quarter of a century.

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Agenda

Conference

Day 1
26.11.2019
8:30
8:30
Registration, welcome and coffee
9:00
9:00
The opening of the conference
9:10
Discussion
9:10
The investment market: The star of the region and beyond (Discussion)

In the first six months of the year, half of the transactions finalised on the real estate market in the CEE region took place in Poland – EUR 2.72 bln flowed into the country from investors’ pockets. And that’s only the start – at the end of December, Poland could be approach last year’s record-breaking  volume. So far, the office market has dominated in terms of the value and the number of deals; retail and warehouse properties are also popular. Asian investors, especially from South Korea, have been particularly active – in terms of transaction volumes, Asian capital accounted for more than a third of acquisitions. What could threaten the stability of yields and their expected further compression?

9:50
Sparring
9:50
The retail market: Creativity and symbiosis (Sparring)

Shopping centre owners have managed to live with the effects of the Sunday retail ban by strengthening their entertainment and food & drinks offers. Retailers’ lives, meanwhile, have not been made any easier by the ever-growing competition from the e-commerce sector – but in this case symbiosis seems the way to survive and succeed, through combining the traditional sales model with online channels. The openings of regional shopping centres this year, however, can be counted on one hand, whereas smaller retail parks are springing up like mushrooms. Instead, renovation and/or expansion work on some malls or other is getting underway almost every day. Is this still down to the cautiousness of investors or are we already entering the twilight of the titans?

10:30
Presentation
10:30
The construction market: Blood, sweat and tears (Presentation)

“This will be the most difficult year of the decade,” – according to the president of one of the largest Polish construction firms. The construction sector is still fighting for survival as it struggles to maintain its profitability and revenues. Large public tenders are being annulled and contractors on ongoing projects are being evicted from building sites. Many have fallen into the trap of taking on contracts worth hundreds of millions, which – due to the rising costs of materials and labour as well as being inadequately costed – have since become vastly unprofitable. There is an estimated shortage of 150,000 construction workers on our labour market and things are only set to get worse, as workers from abroad are preferring to work in the West rather than on Polish building sites. Will the Polish construction sector ever achieve the stability it so desires – and if so, when?

10:50
Discussion
10:50
The residential market: Slowly squeezing the brakes (Discussion)

The residential market has been showing clear signs of cooling down. Developers are selling fewer apartments than a year ago, but they have been making up for it with higher margins – prices are rising significantly. In spite of this, the demand seems stable, the latest projects are being delivered without any major issues, and they are sold out. However, the interest has been growing in PRS residential projects – more than PLN 2.3 bln has been invested in this segment in the last four years, although it didn’t even exist in Poland five years ago. Will developers who have so far been selling all their apartments to individual buyers start to look more kindly at offers to buy entire projects by investors from the PRS sector?

11:30
11:30
Coffee break
12:00
Discussion
12:00
The office market: Tired of Warsaw, but not of life (Discussion)

In the last quarter, regional cities once again managed to overtake the Polish capital in terms of the total office area under construction – and almost half of this space is being developed in Kraków and Wrocław. Despite the significant amount of new office space, the average vacancy rate for regional cities remains stable and is not exceeding the safe level of 10 pct. These cities still offer qualified staff as well as relatively low labour costs and office rents, which is mainly drawing in companies from the business services sector. Meanwhile, there has definitely been less interest in office space from flexible space operators – is this a sign that the co-working and serviced offices market in Poland is becoming saturated?

12:50
Discussion
12:50
The hotel market: Small is profitable (Discussion)

The demand for hotel services in Poland just keeps on growing  – and developers have had their work cut out in keeping up with it, as the number of hotels planned and under construction soars. The largest deals are still taking place in Warsaw and Kraków, but such locations as Gdańsk, Katowice and Łódź are also attracting significant domestic and international capital. However, the hotel market still lacks the large buildings that generate the most interest from foreign investors. Hotel chains are increasingly turning their attention to regional markets, especially those based around holiday tourism; while investors have also been exploring the potential of smaller Polish cities, such as Zielona Góra, Lublin and Białystok.

13:20
Discussion
13:20
The warehouse market: Back to the city (Discussion)

Modern warehouse stock in Poland has now broken the 17 mln sqm mark, but the space in new buildings is still being snapped up like hot cakes. Vacancy rates in the TriCity, Wrocław and the east of the country are negligible and there is virtually no space left at all in the west of Poland and Szczecin – do these regions represent future fertile ground for investors? Or maybe they should invest in conurbations – city warehouses are booming as a result of the booming e-commerce segment. However, not everything is so rosy: the Polish logistics and industrial sector is still struggling with rising construction costs, labour shortages, limited access to contractors and rising energy prices.

13:50
13:50
Lunch
Order on-line or download order form in PDF
Registration takes 5 minutes

Registration

1 tickets
1 ticket. The price covers coffee breaks, lunch, conference materials, access to on-line meeting system.
225
EUR
net
2 tickets
2 tickets. The price covers coffee breaks, lunch, conference materials, access to on-line meeting system.
400
EUR
net
3 tickets
3 tickets. The price covers coffee breaks, lunch, conference materials, access to on-line meeting system.
570
EUR
net
Download order form in .PDF

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