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English Section

Polish industrial space in demand despite virus crisis: report

31.07.2020 09:30
Despite the coronavirus disruption, demand for industrial space in Poland remains high and shows no signs of abating, a newspaper has reported.
Pixabay License
Pixabay LicenseImage by Ben Kerckx from Pixabay

Demand for warehouse space offered in the country by developer Panattoni Europe increased in the first quarter of this year and remained robust in the next three months, according to the Rzeczpospolita newspaper.

The total volume of transactions handled in Poland by Panattoni Europe totaled 671,538 square metres in the second quarter of 2020, growing by over 57 percent from the first three months of this year and by 350 percent from the same period last year, Rzeczpospolita reported.

In the first half of 2020, Panattoni Europe's total transaction volume was 1,097,253 sq m, growing by nearly 125 percent from the same period last year, the daily reported, citing company data.

Demand for warehouses in many Polish cities continued to run high throughout the first half of the year, the paper reported on its rp.pl website.

'Market not feeling effects of lockdown'

“The warehouse market is not feeling the effects of the lockdown and the impact of the virus; companies are working full tilt,” said Beata Hryniewska, director of the Industrial and Logistics Rental Department at real estate services company CBRE, as quoted by the paper.

According to Panattoni Europe’s CEO Robert Dobrzycki, international manufacturers are beginning to move production from Asia to Europe amid the coronavirus pandemic.

The aim is “to overcome their dependence on Asia” and bring “production closer to the consumer,” he has told the paper.

(gs)

Source: rp.pl