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Krakow : Office Market - Q1 2016

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Krakow : Office Market - Q1 2016

Office (5,000 sq m) by Herbewo International and Benaco (3,200 sq m) completed by DK Development. As of the end of March 2016, as much as 290,000 sq m of office space (of which 270,000 sq m will be rentable) was at the construction stage, which equals approximately 36% of existing stock. It was the largest volume of supply under construction in the history of Kraków office market and at the same time the largest among major regional markets in Poland (37% of space under construction in these cities). According to developers’ schedules, approximately 130,000 sq m is due to be completed in 2016, while remaining 160,000 sq m - in 2017. As a result, 2016 may become a record breaking year in terms of new supply while the total office stock in the capital of Małopolska will exceed 1 million sq m in 2017.

Source : Knight Frank

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