Real estate market

Although warehouse space stock of Upper Silesia has more than doubled since 2007 to reach 1.18 million sq.m at the end of 2010, 90,000 sq.m of new schemes were completed during the last six months. In addition, a large number of pipeline schemes is still on hold.

In the first half of 2010 Upper Silesia became the leader on the lease market, now slightly ahead of the Warsaw region. Approx. 445,000 sq.m of warehouse space was leased in this region (approx. 31% of the total volume in Poland). It was in the Upper Silesian region where the largest deals were made: Tesco took up the built-to-suit scheme in Gliwice (56,700 sq.m) and Carrefour renewed its lease for 45,500 sq.m at ProLogis Park Będzin II. The demand was generated mainly by logistics operators (37%), followed by retail chains (32%).

The vacancy rates remained at the level of approx. 12.2%, with rental rates edging down.