Poland MARKET INSIGHTS

Poland MARKET INSIGHTS H1 2016 Contents Economy ........................................ 3 Investment ..................................... 4 Offic...
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Poland

MARKET INSIGHTS H1 2016

Contents Economy ........................................ 3 Investment ..................................... 4 Office ............................................. 6 Industrial ........................................ 8 Retail............................................. 10

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Research & Forecast Report | H1 2016 | Poland | Colliers International

Economy

GDP growth rate (%) 6%

General overview > In Q2 2016, a decrease in GDP growth was noted, by 0.5 pp in comparison to Q1 2015. In turn, GDP growth was estimated at approx. 3.1% in Q2 of this year. > The deflation rate is still persisting in Poland at -0.9% and is caused mostly by global price developments. The persisting deflation did not adversely affect consumers decisions.

4,8%

5% 4%

3,7%

3,3%

> The average monthly gross salary in the enterprise sector at the end of Q2 2016 amounted to PLN 4244.58. > Brexit may influence the Polish economy and open new directions of expansion in the investment market.

Prognosis

1,8% 1,7%

2% 1% 0% 2010

2011

2012

2013

> In the coming months of 2016, we predict that the inflation rate will stay at a level below zero. According to experts‘ expectations, the headline CPI may reach a positive value at the end of this year. > BZ WBK analysts expect that the unemployment rate will reach 8.6% in Q2 2016 – the lowest value for more than 25 years.

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2014

2015

Q1 2016

Q2 2016

GDP Source: Colliers International, based on Central Statistical Office, BZ WBK

Unemployment rate and inflation (%) 16% 14%

13,4% 13,4% 12,4% 12,4% 11,5%

12%

10,5%

10,0% 8,8%

10% 8% 6%

> Additional payments from the Family 500+ programme will affect GDP results in the coming quarters. However, in spite of an increase in household incomes, BZ WBK experts estimate a GDP slowdown in the next two years (20172018).

3,0% prognosis

3%

> The Monetary Policy Council did not change the reference rate in 2016 and left it unchanged at 1.5%. > A decrease in the unemployemnt rate was noted in May 2016, by 1.7 pp compared to the same period in 2015 (between 10.8% and 9.1%).

3,1%

3,6%

4%

4,3%

3,7%

2,6% 0,9%

2%

0,0% -0,9% -0,9% -0,9%

0% -2% 2010

2011

2012

Inflation

2013

2014

2015

Q1 2016

Q2 2016

Unemployment

Source: Colliers International, based on Central Statistical Office, Ministry of Labour and Social Policy

Research & Forecast Report | H1 2016 | Poland | Colliers International

Investment

Prime (net initial) yields

Key investment figures Investment volume

ca. EUR 2.1 bn

Prime yields Prime office yields

< 5.50%

Prime retail yields

ca. 5.00%

Prime industrial yields

ca. 6.50%

General overview > Total value of H1 2016 transactions amounted to ca. EUR 2.1 billion out of which 84% were located outside of Warsaw. Nearly half of the volume constituted the transaction of purchasing shares in Echo by Redefine. > Poland remains the leading market in the CEE region, it also witnessed the largest deal in Europe in Q1 2016. > Investor demand was equally strong across all asset classes, new buyers have deployed capital in Poland.

Yields > Pricing for core assets continues to be primarily driven by the residual lease term, the market has recorded a downward adjustment of prime yields in H1 2016. > Prime office yields for CBD Warsaw are now below 5.50%, whilst initial yields in major regional cities (Wrocław and Kraków) are at 6.25%.

Source: Colliers International

Volumes > Total investment volume amounted to ca. EUR 2.1 billion with an average ticket of ca. €30 million per transaction (excluding the EPP/Redefine deal). > The market recorded 42 transactions across all asset classes with several new market players completing their first deals in Poland (f.ex. Warburg – HiH, Exeter). > Largely due to the transacion between Redefine and Echo Prime Properties (EPP), retail asset class dominated the investment volume with a 47% share, followed by offices at 39%.

Investment volume

> Retail yields are in the range of 5.0% - 5.5% for Warsaw and major regional cities for modern, 3rd generation, dominant, trophy-type assets, up to ca. 8.0% - 8.5% for shopping centers in smaller secondary cities. > Prime logistics yields are at 6.5% (mostly BTS), subject to the quality and duration of the underlying cash flow.

Source: Colliers International

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Research & Forecast Report | H1 2016 | Poland | Colliers International

Deal specifics and stories

Land

> The Polish market recorded the largest transaction in Europe in the first quarter of 2016 – sale of a 75% stake in Echo Prime Properties, owner of 18 shopping centers and office buildings for ca. EUR 900 million. The buyer was Redefine, an investor originating out of South Africa.

> In H1 2016, the investment land market was characterised by a high level of purchasing, which was caused by a continuous good period for residential developers. Tempted by consecutive record breaking quarters in terms of new apartment sales, an improving economy and a balanced banking sector that guarantees lower interest rates of bank loans, developers gathered investment land giving them an opportunity for long-term new scheme protection at already very limited resources.

> The market picked up the pace in Q2 2016 and other most notable transactions, apart from the above retail deal, included acquisition of Ferio retail scheme in Konin by Union Investment and Jantar retail scheme by CBRE Global Investors. New markets became active, highlighted by the sale of Alchemia office building in Gdańsk. > Regional cities accounted for 84% of the overall transaction volume.

Investment volume by sector

> The industrial land market speeded up and as a result of conditions in Q3 and Q4 of 2015, it hit a record-breaking transaction volume for whole 2015 compared to the last 3 or 4 years. > Very optimistic opportunities are available in the hotel market, which caused by many investments in 2016. > Investment land for the development of offices and retail schemes are gradually becoming more attractive in the eyes of investors. > In 2016, an increase in the purchase of investment land is predicted in the residential and hotel sectors, with a limited growth in interest for office and industrial land. In the current year there is a high chance that the volume of investment land transactions will exceed 2015.

Source: Colliers International

Prognosis > Considering the number of deals in due diligence and negotiations, the 2015 investment volume of ca. EUR 4.1 billion can be surpassed at the end of 2016. > We expect more new buyers to enter or (re-enter) the market in H2 2016.

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Research & Forecast Report | H1 2016 | Poland | Colliers International

> Within the six months, the volume of transactions in the nine major markets amounted to 627,200 m2. Agreements in buildings that are planned or under construction constituted more than 27% of total demand. This resulted in over 170,000 m2 of leased space.

Office General overview

> The share of renegotiations/extensions amounted to approximately 23.7% of gross demand. New agreements still constituted the largest part of the total volume at almost 60%.

> At the end of the H1 2016, the total supply in the nine major markets in Poland reached 8.6 milllion m2. Within the six months, developers completed a record amount of office space – almost 572,000 m2.

> Base rents remained unchanged. Office space in Warsaw was offered from EUR 12 to EUR 22.5/m² per month, while in regional cities from EUR 10 to EUR 16.5/m2 per month.

> Kraków and Tricity were the regional cities with the highest growth. In H1 2016, in the capital more than 350,000 m2 were delivered to the market and compared to the previous few years it is a better result than the annual average for Warsaw.

Supply > In the H1 2016, in Warsaw a record amount of office space was completed. Sixteen new projects were delivered to the market with a total leseable area exceeding 350,000 m2. Over half of the new supply was completed in the city centre where two of the largest office buildings were finished: Warsaw Spire A (Tower), offering over 59,000 m2 and Q22 (46,400 m2). Most office space outside the city centre was delivered in the South West zone (58,900 m2) and in the North zone (49,000 m2). The largest projects completed in non-central locations are Gdański Business Center II D (29,3000 m2) and Proximo I (28,700 m2).

> Over 1.4 million m2 of modern office space is under construction. The capital accounts for 609,000 m2 of new offices and in regional cities there is still most of space being built in Kraków (287,000 m2), Wrocław (165,000 m2) and Tricity (122,000 m2). > The vacancy rate in Poland recorded a slight increase to 13.4% compared to 12.6% at the end of Q1 2016. Investments delivered to the market in Q2 2016 were 54% commercialised.

Key office figures (H1 2016) Existing supply (m2)

New supply (m2)

Vacancy rate

Space under construction (m2)

Demand (m2)

Rental rates (m2/month)

Warsaw

4,988,400

350,100

15.4%

609,200

358,600

EUR 12-22.5

Kraków

832,900

66,500

6.0%

287,500

110,100

EUR 13.2-15.5

Wrocław

757,100

48,300

10.2%

165,200

52,500

EUR 12.5-16.5

Tricity

629,300

52,700

13.5%

121,900

36,700

EUR 13.5-15.75

Poznań

395,700

10,900

13.3%

48,000

26,300

EUR 12.5-15.5

Katowice

404,400

12,900

14.3%

67,000

21,000

EUR 12-14

Łódź

347,200

23,300

9.7%

91,100

18,400

EUR 12-13.5

Szczecin

166,100

7,400

17.7%

-

2,100

EUR 11-14

Lublin

132,600

-

7.8%

73,300

1,500

EUR 10-13

Total

8,653,600

572,000

13.4%

1,463,700

627,200

City

Source: Colliers International based on PORF, H1 2016

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Research & Forecast Report | H1 2016 | Poland | Colliers International

> In the regional markets, 33 office projects were completed with a total area of 221,900 m2. In H1 2016, most supply was delivered in Kraków (66,500 m2), where 11 projects were finished, but only two of them with an area equal to or exceeding 10,000 m2. These were Bonarka for Business F (10,000 m2) and O3 Business Campus I (19,200 m2). A significant increase in supply was also registered in Wrocław (48,300 m2) and Tricity (52,700 m2), where Pegaz building (18,500 m2, Wrocław), Nicolas Business Center (9,300 m2, Wrocław) and two buildings at Łużycka Street in Gdynia - Tensor X and Y (12,500 m2 both) were completed.

Demand

Vacant space > The vacancy rate for Warsaw increased to 15.4% (against 14.1% at the end of Q1 2016). The increase in vacancies was registered mainly in the city centre from 14.2% to 17.6%, which was largely dictated by the delivery in the capital’s centre of nearly 134,000 m2 of new offices. > The lowest vacancy rate was recorded in Kraków (6%), Lublin (7.7%) and Łódź (9.7%). Most of the free space is currently in Szczecin (17.7%) and Katowice (14.3%).

Vacancy rates in the major office markets in Poland in H1 2016 20%

> The total volume of transactions registered in H1 2016 in Warsaw amounted to 358,800 m2. Most contracts (over 22% of total demand) were signed in the Upper South zone (80,800 m2). In total, in non-central locations transactions were signed for over 236,000 m2. In the city centre the gross demand amounted to 122,200 m2. In Warsaw, new agreements dominated with almost a 60% share. Pre-lets accounted for approximatelly 17% of the total volume. > In H1 2016, the gross demand in regional markets amounted to 268,400 m2 and a significant part of this was made up of agreements signed in Kraków (41% of the total volume). Wrocław and Tricity also registered a high level of tenant activity. Almost 40% of total demand was constituted by pre-lets, which resulted in 107,100 m2 of leased space. Likewise in the capital, new contracts dominated the market with a 58.3% share.

Largest lease transactions in H1 2016 Area (m2)

Location

Credit Suisse

10,800

Grunwaldzki Center, Wrocław

Aon

10,700

Enterprise Park E, Kraków

Euroclear Bank

10,000

Bonarka for Business G, Kraków

ABB

10,000

Axis, Kraków

Philip Morris HQ

8,000

Philip Morris Europejskie Centrum Usług Wspólnych, Kraków

Allegro

7,600

Q22, Warsaw

NC+

7,500

Canal+, Warsaw

Brown Brothers Harriman

7,500

Orange Office Park Den Hauge, Kraków

Rockwell Automation

7,400

A4 Business Park III, Katowice

Primulator

7,300

Primulator, Łódź

Tenant

17.7% 15.4%

14.3%

10.2% 10% 6.0%

9.7% 7.8%

5%

0%

Source: Colliers International based on PORF, H1 2016

Prognosis > Currently in Poland, 1.46 million m2 of new office space is still under construction. Warsaw accounts for 609,000 m2, of which over 90,000 m2 will be completed by the end of the year and a further 303,000 m2 next year. In regional markets, most projects in the construction phase are in Kraków (287,000 m2). Also in Wrocław and Tricity a high level of activity among developers is observed. In the capital of Lower Silesia, 165,000 m2 is currently being built and in Tricity agglomeration almost 122,000 m2 of new offices. > We expect that due to the large amount of planned supply, the vacancy rate for the main markets in Poland will grow, and this trend will continue in subsequent quarters. We will continue to observe a decline in average rental rates, both basic and effective, especially in markets with high construction activity. > Among tenants we are observing a change in how working space is created. More and more companies are interested in carrying out a comprehensive analysis of staff needs and developing a suitable strategy for the changes.

Source: Colliers International based on PORF, H1 2016

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13.5% 13.3%

15%

Research & Forecast Report | H1 2016 | Poland | Colliers International

Supply

Industrial General overview > The Polish industrial market is thriving and still showing an upturn trend. Supply and demand remain at a stable high level. In H1 2016, the supply of industrial space stood at almost 660,000 m2 and as a result the total stock in Poland exceeded 10.4 million m2. > During the past six months, 254 agreements were signed, which covered over 1,4 million m2 of leased space. > In comparison to corresponding period of the previous year, activity among developers increased. The level of supply was 35% higher than in H1 2015 (489,000 m2).

Total supply and vacancy rates in major markets m2

2,250,000

10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%

2,000,000 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 0

> In H1 2016, developers were most active in the Warsaw market (Zone II). 144,000 m2 of modern industrial space was delivered to this market, which constituted 22% of total industrial space delivered to the Polish market. > High activity among developers was also observed in the Poznań market (122,000 m2) and in Central Poland (115,000 m2). The remaining regional markets did not experience such large increases in new industrial space (up to 86,000 m2 in the Silesia market). > The largest industrial investments completed in the last two quarters include: four projects delivered by Panattoni – i.e. in Stryków (60,000 m2), Poznań (31,400 m2), Pruszków (30,700 m2) and Łódź (30,100 m2); a warehouse built within Centrum LogistycznoInwestycyjne in Poznań (31,400 m2); a BTS-type building (29,500 m2) within the logistic park Hillwood Wrocław 3.

Demand > In the period under analysis, an 8% growth in supply was observed (1.3 million m2 in H1 2015) in relation to the same period in the previous year. The transaction volume at the end of June 2016 exceeded 1.4 million m2 of leased industrial space within 254 signed agreements.

Demand in major markets in H1 2016 m2

300,000 250,000 200,000 Supply

Vacancy rate

*Lublin, Rzeszów and the surrounding area Source: Colliers International

> At the end of June 2016, the short-term transaction volume (not included in aggregated statistics) amounted to 96,000 m2. > In the analysed period, the vacancy rate for A-class industrial space stood at 5.3% and was 0.7 p.p. higher than the rate recorded at the end of December 2016 (4.6%).

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150,000 100,000 50,000 0

*Lublin, Rzeszów and the surrounding area Source: Colliers International

Research & Forecast Report | H1 2016 | Poland | Colliers International

> The largest amount of space was leased in the Warsaw market, where signed deals constituted 373,000 m2, 76% of which was in Zone II (282,000 m2). Other markets also show a high level of demand, such as Silesia, Wrocław, Central Poland and Poznań – over 190,000 m2 was leased in each of these regions. > In H1 2016, new deals constituted 59% of the demand structure (including BTS-type transactions, which made up 15%) against renegotiations which had a share of 38%. > Tenants representing the 3PL sector were most active (15% of all transactions) during the period from January to June 2016.

Selected lease transactions in H1 2016 Tenant Kaufland Agata Meble Raben Carrefour Trioline Euro Net DHL

Orange TP SA

Archidoc InPost

Project Panattoni BTS Bydgoszcz Prologis Park Piotrków II Panattoni Park Grodzisk III Panattoni BTS Bydgoszcz II Panattoni Park Poznań V Panattoni Park Pruszków Prologis Park Chorzów Segro Logistics Park Warsaw, Pruszków Prologis Park Chorzów P3 Piotrków

Area (m2)

Type of deal

45 600

BTS

42 900

BTS

42 500

New deal

38 200

BTS

32 300

New deal

23 000

BTS

17 800

Expansion

17 300

Renegotiation

Forecast > At the end of Q2 2016, 856,00 m2 of industrial space was under construction in Poland, approximately 60% of which is already occupied. > Easy access to skilled and qualified employees and the proximity of academic centres are increasingly decisive factors during the process of choosing a location for production companies. > We expect smaller industrial markets to keep gaining in attractiveness and improving their position on the Polish logistics map. > The demand for warehouse & industrial space is anticipated to maintain its high level in the coming quarters. > We are observing a stabilisation of rents. However, in the markets characterised by the lowest vacancy rates lease costs are likely to grow.

Effective rental rates (EUR/m2/month) Region

16 700

Renegotiation

15 300

BTS

Source: Colliers International

Vacant space

Min. (EUR/m²)

Max. (EUR/m²)

Warsaw zone I

3.50

4.80

Warsaw zone II

1.90

2.90

Warsaw zone III

1.90

2.70

Central Poland

1.90

2.90

Poznań

2.10

2.70

Upper Silesia

2.00

2.70

Kraków

2.80

4.50

Wrocław

1.90

3.20

Tricity

2.20

2.90

Toruń/Bydgoszcz

2.20

2.80

Szczecin

2.40

3.50

Lublin

2.40

2.90

Rzeszów

2.50

3.20

2

> At the end of June 2016, there was 563,000 m of unleased industrial space in the analysed markets. The vacancy rate stood at 5.3%.

Source: Colliers International

> The Warsaw market saw the greatest amount of nonoccupied industrial space – the average vacancy rate stood at 8.4%. > The lowest indicator was recorded in Szczecin, Toruń and Bydgoszcz. However, at the end of H1 2016 in Kraków all the existing industrial space was leased.

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Research & Forecast Report | H1 2016 | Poland | Colliers International

Retail

> Average vacancy rate for the 18 biggest Polish cities is at the low level of 3.2%, the lowest vacancy rates are in Olsztyn and Warsaw while highest are in Radom.

General overview

Supply

> In the first half of 2016, there were only approximately 83,000 m² of retail space delivered to the market in Poland, 70% of it was completed in the second quarter of the year. In the January-June period 8 objects were completed, including five extensions (40,000 m² GLA). Total stock of modern retail space at the end of June 2016 reached about 10,9 millions m².

> Total retail space in Poland approached to 11 million m² GLA. The largest retail markets remain Warsaw Agglomeration with 1.5 million m² in 45 schemes and Katowice Conurbation (44 schemes, 1.1 million m² GLA)

Evolution of retail stock in Poland 2000 – 2016 (Q2) Annual supply (m²)

Stock (million m²)

12

800,000 700,000

10

600,000 8

500,000 400,000

6

300,000

4

> The retail space density ratio reached the European average level and at the end of June 2016 it amounted 284 m²/1,000 inhabitants. In the group of the biggest aglomerations the highest density is in Wrocław (821 m² /1,000) but leaders on a national scale remain Zgorzelec (1,665 m² /1,000), Opole (1,361 m² /1,000) and Rzeszów (1,259 m² /1,000). > Three new retail schemes were completed in H1 2016 – Galeria Glogovia (21,000 m²), Karuzela Września (15,000 m²) and Galeria Awangarda Bartoszyce (6,000 m²). Remaining projects are expansions of existing retail schemes.

200,000 2

100,000 0

0

New projects

Extensions

Stock

Source: Colliers International

> At the end of Q2 2016 almost 620,000 m² of shopping centres space was under construction with planned opening date estimated for the end of 2018, approximately 46% of it will be completed in the July-December 2016 period. > It is worth to pay attention for the developers‘ increased interest in the Warsaw Agglomeration market, where approximately 250,000 m² GLA is under construction or at the advanced stage of preparations and other projects are waiting for the implementation.

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> Many retail schemes are expanded and being modernised. In May 2016, renewed Galeria Morena in Gdańsk was presented to customers. The facility offers modernised Carrefour hypermarket, new shops and enlarged already existing well known polish and international brands units, playground for children, fitness, cinema as well as convenient and esthetic food court with outdoor leisure space. External and internal communication plan including parking was also rebuilt.

Demand > In H1 2016 in Poland several new retail chains had their debuts including first LPP – Tallinder store in Galeria Bałtycka. In January 2016 first Skechers franchise was opened in Galeria Mokotów in Warsaw. Manufaktura in Łódź was chosen by american clothing and equipment chain – U.S. Polo Assn for its first shop in Poland.

Research & Forecast Report | H1 2016 | Poland | Colliers International

> The biggest leasing transactions in 2016 were announced in new schemes as well as those under construction or in advanced stage of preparations. However, significant part of demand was created as a part of re-commercializations of already existing schemes with strong retail position on the market. > Among lease transactions announced at the begining of current year worth mentioning are those in Galeria Młociny in Warsaw (Inditex Group 6,500 m², Cinema 3D 4,000 m², Van Graff 3,000 m², Calypso fitness) or in Galeria Libero in Katowice (Media Markt 2,100 m², Alma 1,900 m², Helios cinema, Fabryka Formy fitness club). > Agata in Vivo! Stalowa Wola (6,500 m²), P&C in Poznań City Centre (4,500 m²), TK Maxx in Promenada in Warsaw (2,500 tys. m²) and in Manufaktura in Łódź (2,300 m²) or Helios in Blue City in Warsaw (8 halls) were leased in already existing schemes. > Polish retail chains more often decide to expand outside the country borders – for example in H1 2016 CCC began its business activity in Serbia while Martes Sport in Czech Republic. > We observe new trends in multichannel sales. New Inditex clothing brand – Uterque entered the Polish market in e-commerce sector. In the analyzed period of time there also took place an acquisition of company eobuwie.pl shares by CCC (74.99%).

Chosen transactions announced in H1 2016 Sector

Leased area (m²)

homeware

6,500

Grupa Inditex

fashion

6,500

P&C

fashion

4,500

Cinema 3D

cinema

4,000

Elite Gym

fitness club

3,200

Van Graaf

fashion

3,000

Grupa LPP

fashion

2,700

TK Maxx

fashion

2,500

TK Maxx

fashion

2,300

electronics

2,100

Libero Katowice

Alma

supermarket

2,000

Galeria Młociny Warszawa

Alma

supermarket

1,900

Libero Katowice

Tenant Agata

Media Markt

Source: Colliers International

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Scheme Vivo! Stalowa Wola Galeria Młociny Warszawa Poznań City Centre Galeria Młociny Warszawa ArtN Warszawa Galeria Młociny Warszawa Quick Park Mysłowice Promenada Warszawa Manufaktura Łódź

Vacancy > At the end of H1 2016, the average vaccancy rate among the eight major agglomerations in Poland amounted to 3% while in big cities (200- 400,000 inhabitants) 4.6%. > Among major retail markets Warsaw has the lowest vacancy rate with 1.6%. The most of available space is noted in Poznań (5.2%). > Among big cities (200-400,000 inhabitants) Radom has the most of available space (9.3%) while Lublin has the fewest (2.1%).

Vacancy rate 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0%

Source: Colliers International based on PRRF

Prognosis > At the end of H1 2016 under construction there was approximately 620,000 m² of modern retail space, 46% of which is planned to be delivered in a period of July-December 2016. This implies that annual supply may decrease by nearly a half in relation to 2015. > The largest project under construction is currently Posnania (approximately 100,000 m²) which area stands up to over ¼ of 2016 supply. Other significant schemes under construction are: Wroclavia (64,000 m²), Galeria Północna in Warsaw (64,000 m²) and Forum Gdańsk (62,000 m²). > There is expected a boom in shopping centers market in Warsaw where preparations of Galeria Młociny, Galeria Wilanów, Jupiter projects or expansions of SC Janki, SC Ursynów, SC Promenada and SC Targówek are in progress. > In June 2016 parliament has received a bill about retail environment tax which implements two tax rates: 0.8% from the income totalling PLN 17 to 170 milions per month and 1.4% for the income over PLN 170 milions.

Research & Forecast Report | H1 2016 | Poland | Colliers International

554 offices biura win 66 countries krajach naon 6 continents kontynentach UnitedZjednoczone: Stany States: 153 153 Canada: Kanada: 34 Latin Ameryka America: Łacińska: 24 24 Asia Azja Pacific: Pacyfik: 231 231 EMEA: 112

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2,3 billion mld € € revenue roczny przychód in 2015 w 2015

185 million mln m2 m2 space powierzchni under w management zarządzaniu

16,000 16 000 16,0 000 00 employees pracowników

About Colliers International Group Inc. About Colliers International Group Inc. Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) jest globalną firmą doradczą działającą w obszarze rynku nieruchomości komercyjnych. Posiada sieć Inc. 554(NASDAQ: biur w 66 krajach zatrudniającą 16 000 pracowników. Colliers International pełen zakres usług Colliers International Group CIGI; TSX: CIG) is a global leader in commercial real estate servicesoferuje with 16,000 professionals podmiotom związanym z rynkiem nieruchomości. Firma doradza najemcom, właścicielom nieruchomości oraz inwestorom na całym operating from 554 offices in 66 countries. With an enterprising culture and significant insider ownership, Colliers professionals provideświecie. a full Oferujeofpośrednictwo w zakresie wynajmuowners i sprzedaży, globalneworldwide. rozwiązania korporacyjne, obsługę transakcji inwestycyjnych i rynków range services to real estate occupiers, and investors Services include brokerage, global corporate solutions, investment kapitałowych, zarządzanie projektami, usługi wand zakresie workplace strategy, zarządzanie nieruchomościami oraz majątkiem spółek, wycenę sales and capital markets, project management workplace strategies, property and asset management, consulting, valuation and appraisal nieruchomości, a także badania rynku do potrzeb klientów oraz doradztwo Colliers znalazł się by w the services, and customized research anddostosowane thought leadership. Colliers International has been strategiczne. ranked among the topInternational 100 outsourcing firms rankingu Global Outsourcing 100 – liście Professionals’ czołowych firm działających w sektorze outsourcingu. Spółka została wyróżniona po raz dziesiąty International Association of Outsourcing Global Outsourcing for 10 consecutive years, more than any other realjuż estate services z rzędu, czyli więcej niż którakolwiek spośród firm doradzających na rynku nieruchomości. Autorem rankingu jest International Association of firm. Outsourcing Professionals. More on www.colliers.com. Więcej na www.colliers.com. Colliers International has been active in the Polish market since 1997 and operates through offices in Warsaw, Kraków, Wrocław, Poznań, Colliers International Polsce działa 1997 roku i posiada biura Warszawie, Krakowie, Gdańsku, Gdańsk, Katowice andwŁódź with overod 200 employees in total. The w company has been often Wrocławiu, honored forPoznaniu, its achievements byKatowicach industry i Łodzi, w których łącznie ponad specjalistów. FirmaAwards zostałaand uhonorowana wieloma prestiżowymi przyznanymi m.in. win organizations suchzatrudnia as Eurobuild, CIJ200 Journal, CEE Quality the International Property Awards. nagrodami Colliers’ most recent distinction konkursach: Eurobuild, CIJ Journal, CEE Quality Awards, International otrzymane przez Colliers wyróżnieniasector; to Poland include the “Outsourcing Star”, given in recognition of its status Property as one ofAwards. the mostOstatnio active real estate advisors in the outsourcing nagroda Outsourcing Starfor dlabeing jednejone z firm nieruchomościowych najprężniejcompanies działających w sektorze outsourcingu oraz Gazele Biznesu and the “Gazele Biznesu” of the most dynamically developing in Poland. przyznawane najdynamiczniej rozwijającym się firmom w Polsce. More about us on www.colliers.pl. Więcej o nas na www.colliers.pl. Follow Colliers on: Obserwuj Colliers na:

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