{"id":42978,"date":"2024-02-25T11:29:54","date_gmt":"2024-02-25T10:29:54","guid":{"rendered":"https:\/\/bpcc.org.pl\/?p=42978"},"modified":"2024-03-05T20:30:53","modified_gmt":"2024-03-05T19:30:53","slug":"a-slow-start-and-many-uncertainties-ahead-but-a-better-year-overall-anticipated-for-polands-built-environment-2","status":"publish","type":"post","link":"https:\/\/dev2.bpcc.org.pl\/pl\/a-slow-start-and-many-uncertainties-ahead-but-a-better-year-overall-anticipated-for-polands-built-environment-2\/","title":{"rendered":"A slow start and many uncertainties ahead, but a better year overall anticipated for Poland\u2019s built environment"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"42978\" class=\"elementor elementor-42978\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-49d1c91 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"49d1c91\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3747be7\" data-id=\"3747be7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cfc5a05 elementor-widget elementor-widget-text-editor\" data-id=\"cfc5a05\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e0f25b0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e0f25b0\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aa070c0\" data-id=\"aa070c0\" data-element_type=\"column\"><div class=\"elementor-widget-wrap elementor-element-populated\"><div class=\"elementor-element elementor-element-9576b11 elementor-widget elementor-widget-text-editor\" data-id=\"9576b11\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><p>\u00a0<\/p><p><strong>The BPCC\u2019s Real Estate &amp; Construction Group met for the first time this year for a round-table discussion about prospects for the sector in 2024. Hosted by real estate investor Revetas, the meeting took place in the Trinity One development in Warsaw on 1 February 2024.<\/strong><\/p><p>The event was opened by <strong>Antonio Pomes<\/strong>, director \u2013 country head of portfolio management for Poland at Revetas Asset Management, which has invested in BPCC member, Bonarka 4 Business, an office complex in Krak\u00f3w.<\/p><p>The event attracted a record numbers of participants \u2013 architects, building-material producers, civil engineers, contractors, developers, financiers, insurers, investors, landlords, lawyers, real-estate agents and tax advisers \u2013 to discuss the state of trade in the sector from different points of view. The cross-disciplinary viewpoints built up to a complex and detailed picture of how the sector is likely to develop after a tough year, which saw a significant drop in foreign direct investment into Poland.<\/p><p>In the round-table discussion moderated by the BPCC\u2019s chief advisor <strong>Michael Dembinski<\/strong>, each participant was invited to give a brief picture of how they saw the state of trade in their business, their perception of market sentiments and sectoral trends. Taken together, the meeting offered a unique overview of what can be expected in real estate &amp; construction this year. The meeting was held as always under the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Chatham_House_rule\" target=\"_blank\" rel=\"noopener\">Chatham House rule<\/a>, which increases the openness of the discussion.<\/p><p>Key conclusions:<\/p><ul><li>2024 will be a better year than 2023, with a slow start and acceleration in Q3 and Q4<\/li><li>Investors are waiting for three areas of uncertainty to ease \u2013 the high cost of borrowing, the policy programme of the new government, and the situation in Ukraine<\/li><li>Interest rates are expected to be lower towards the end of 2024; cost of finance remains a major barrier to investors<\/li><li>EU funds from the Recovery and Resilience Facility (KPO in Polish) will create a huge boost to infrastructure and energy projects, driving up construction prices as a consequence<\/li><li>The CPK (\u2018Solidarity Transport Hub\u2019) project\u2019s future is currently unknown \u2013 will it be modified, stopped all together, or given the green light?<\/li><li>Residential development is in demand, especially the private-rented sector, student accommodation, and senior-living projects, albeit all from low levels<\/li><li>Data centres have large potential for Poland, but investors are looking to the new Polish government to accelerate green energy projects to provide power for them<\/li><li>Small modular reactors as seen as an essential part of Poland\u2019s move away from fossil fuels<\/li><li>Prospects for the office sector remain mixed as employers are finding it harder to get employees to return to the workplace; quality offices in prime locations remain in demand<\/li><li>Smaller Polish towns (30,000 \u2013 100,000 population) are seen as good locations for modern retail development<\/li><li>Green building is in demand with the introduction of the Corporate Sustainability Reporting Directive mandating large companies to report their environmental impact<\/li><li>Banks are paying attention to ESG and unwilling to lend money against real-estate assets that don\u2019t comply with current environmental standards<\/li><li>Retrofitting and repurposing older buildings is fast becoming commonplace<\/li><li>Land banks are being built up on both greenfield and brownfield sites<\/li><\/ul><\/div><\/div><\/div><\/div><\/div><\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f42bf20 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f42bf20\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-7ff8364\" data-id=\"7ff8364\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fa16a01 elementor-widget elementor-widget-image\" data-id=\"fa16a01\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_101127-1024x768.jpg\" class=\"attachment-large size-large wp-image-42021\" alt=\"\" srcset=\"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_101127-1024x768.jpg 1024w, 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loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451-1024x768.jpg\" class=\"attachment-large size-large wp-image-42027\" alt=\"\" srcset=\"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451-1024x768.jpg 1024w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451-300x225.jpg 300w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451-768x576.jpg 768w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451-1536x1152.jpg 1536w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451-1080x810.jpg 1080w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100451.jpg 2016w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-cea76b2\" data-id=\"cea76b2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d63f407 elementor-widget elementor-widget-image\" data-id=\"d63f407\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507-1024x768.jpg\" class=\"attachment-large size-large wp-image-42030\" alt=\"\" srcset=\"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507-1024x768.jpg 1024w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507-300x225.jpg 300w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507-768x576.jpg 768w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507-1536x1152.jpg 1536w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507-1080x810.jpg 1080w, https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2024\/02\/20240201_100507.jpg 2016w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The BPCC\u2019s Real Estate &#038; Construction Group met for the first time this year for a round-table discussion about prospects for the sector in 2024.<\/p>\n","protected":false},"author":1,"featured_media":42033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[76],"tags":[],"ppma_author":[308],"class_list":["post-42978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-contact-magazine","author-bpcc_en","et-has-post-format-content","et_post_format-et-post-format-standard"],"_vci_translations":{"en":42978},"_vci_seo":[],"_vci_author":{"id":1,"name":"Wojciech K.","slug":"n0timportant"},"acf":[],"authors":[{"term_id":308,"user_id":0,"is_guest":1,"slug":"bpcc_en","display_name":"British Polish Chamber of Commerce","avatar_url":{"url":"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2023\/01\/Vertical_logotype_red_crown_transparent.png","url2x":"https:\/\/dev2.bpcc.org.pl\/wp-content\/uploads\/2023\/01\/Vertical_logotype_red_crown_transparent.png"},"first_name":"","last_name":"","user_url":"","description":"Since 1992, the British-Polish Chamber of Commerce has been working on behalf of its member companies in two areas - business development and the business environment. By offering extensive networking opportunities - at events and through its digital media - the BPCC helps to connect companies for mutual tangible benefits. \r\n\r\nThe BPCC is the first point of contact for all investors who see Poland as a convenient location to start an investment. 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