Despite demanding times, the number of transactions and properties sold remains at a good level, and one can even say that we are seeing a revival.
The war in Ukraine posed new challenges for business and influenced decisions investments, inflationary pressure and lower activity are also significant borrowers. Despite these factors, after the first half of 2023, we can say that customers continue to buy plots, and events such as announcements the government’s cheap credit program has further stimulated the market and we see increasing activity of our contractors.
As Greenfields, we currently have tens of thousands of square meters plots at an advanced stage of negotiations and we hope that further transactions will be finalizing soon. We’ve also noticed a growing interest in transforming built-up areas for new investments, therefore in the last period, we extended our activities to the preparation of post-industrial areas, so-called brownfields.
A positive aspect is the growing interest in our services from foreign investors who see the potential of the Polish valley and the growing sector of data centers in the vicinity of Warsaw. However lack of energy infrastructure that would ensure adequate connection capacity, may cause delays or even prevent the implementation of individual projects investment. Nevertheless, in the last two years, interest foreign investors has more than doubled and we anticipate growth this market in Poland.
We also continue challenges at the administrative level. Changes in legislation, which cause paralysis on the part of Warsaw, do not help offices, which in turn translates into the time needed to prepare land for development. With the currently increased demand, the efficiency of administrative procedures is crucial for the pace of investment implementation or concluded transactions. Despite this We look to the future with optimism and we are determined in what we do face these challenges and continue to develop Greenfields’ business.
The article was published in the Property Insider