Time for Pomerania
Pomerania on the growth pathReal Estate Investments
Originally Published in March 2020
Pomerania is a very prospective region and the right place to do business. Its offer is rich in various investment areas
POMERANIA is one of the most developed regions in Poland. Its attractiveness stems from i.e. favourable geographic location, the presence of the largest seaports in the Baltic Sea, expanding international airport and constantly improving road network infrastructure. Due to its unquestionable touristic values and scenic landscapes, as well as rich cultural and recreational offer, Pomerania has been the leader of quality of life rankings in Poland for many years. As a³ regional non-profit initiative assisting foreign investors Invest in Pomerania has been operating since 2011. Last year it exceeded the number of 100 investment projects closed since the beginning of its activity.
Invest in Pomerania supported investment projects of such globally recognized companies as Amazon, Intel, Bayer, Alteams, Flex, Lacroix, Thyssenkrupp, Lufthansa Systems, Swarovski, State Street, Maersk Drilling, Arrow and Thomson Reuters. All together the investors supported by Invest in Pomerania declared to create over 15,000 new jobs in the region.
With almost 800,000 square meters of the office space in 2019, Tri-City is ranked third biggest regional market in Poland. The volume of the office space has been steadily growing since 2010. In Q3 2019 200,800 square meters of office space was under construction, as a result, Tri-City, in terms of the volume of space under construction, was slightly ahead of Kraków and Wroclaw, referred to as the dominant markets. Stock supply growth goes hand in hand with the increasing demand for the office space. The total demand in 2019 in Tri-City amounted to approx. 74,200 square meters and was fueled mainly by the growth of modern services sector. In Tri-City in 2019 the vacancy rate amounted to 4,8% which is the lowest level in Poland.
The rent rates oscillated at 14 EUR. The development is also observed on the warehouse and logistics market, which is affected by two main factors, i.e. the development of seaports in Gdańsk and Gdynia, as well as the development of the transport network throughout Poland. In 2019, the Pomeranian warehouse stock reached a record-breaking 667,000 square meters of total area, reinforcing the position of the Pomeranian region as a main logistics hub in northern Poland.
Since the beginning of 2019, modern warehouse space has increased by 171,700 square meters. The largest project completed was Panattoni Park Gdańsk III. In Q3 there was also 102,000 square meters under construction. These values show the investment potential of the region. Retail market stock in Poland is stable and stands at over 14 million square meters (316 square meters per 1,000 inhabitants while in Pomerania the average is 591 square meters per 1,000 inhabitants).
Pomerania offers nearly 1 million square meters of GLA which amounts for 7% share in the Polish market. The majority of retail space in the region is located in Tri-City. With nearly 70% share, shopping centres dominated the Pomeranian market. Retail parks offering approx. 18% of total stock and retail warehousing with approx. 14% came in second and third respectively. The only outlet centre offering approx. 16,700 square meters has a marginal share in the market (2%).
In H1 2019 the vacancy rate in shopping centres in Tri-City was around 5.9%. Pomerania is a³very prospective region and the right place to do business. The regional offer is rich in various investment areas. The largest number of areas for production and warehouses can be found in Gdańsk, including: Pomerania Investment Centre (55 ha) and Industrial Park Plonia (23 ha). Rumia, which forms a natural support area for the Port of Gdynia also offers approx. 10 ha of investment land.
The region is also an ever-rising recreational real estate market. Gdynia is a popular destination attracting more and more tourists every year. Thanks to this, the city is constantly open to new hotel investments to be carried out in prestigious locations near the sea. Also Sopot provides a diversified offer and areas prepared for hotel and recreation investments, as well as various types of services.
Current biggest investment projects in Pomerania presented at MIPIM Cannes include:
- Nautilus Gdańsk – a³ mixed-use commercial edutainment and retail park completed with a³ hotel and medical SPA. It will be Poland’s most advanced commercial free time center offering a³variety of attractions and rides including world’s first themed aquarium – ‘the South American Adventure’.
- Gdynia Waterfront – a³ modern multi- functional complex (residential buildings, services, retail and cultural facilities) which can become an important part of the public space within the city.
- New office spaces located in business districts of Gdańsk – Wave (Developer – Skanska) with 44,100 square meters of lease area, Format and Oficyna (Developer – Torus) with 16,004 and 12,318 square meters lease area respectively.
- New hotel and apartment investments – Granaria Project which consists of two hotel units for over 450 rooms; office space for about 5,000 square meters; commercial space for about 11,000 square meters and over 550 apartments.
Another big project is Sol Marina a³ luxurious complex of apartment buildings with a³ private marina and the hotel. The investment is located in the vicinity of Sobieszewo Island between the Gdańsk Bay and the delta of Vistula river.