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REDD connected real estate market with big data

The first entry to the database, 2 years ago, was a famous building at Rondo ONZ in Warsaw. Currently, REDD is monitoring over 2,100 properties, which translates into 16 billion pieces of data! And this is just the beginning – announced Tomasz Ogrodzki, CEO of REDD Group.

How REDD was created

The real estate market is quite hermetic and conservative. It lacks transparency. Collecting data boils down to entering records into Excel. However, this useful tool has its limitations – the information obtained in this way is difficult to share and verify. This is a huge obstacle to free development and does not allow you to maximize the potential of your data.

– REDD is the only such start-up in Central Europe that takes real estate into the virtual world and collects data on commercial buildings – says Tom Ogrodzki, CEO REDD Group.

We want to fill that gap. We believe that the real estate market can be modern and innovative. We clearly see how smart data solutions are helping the real estate sector grow dynamically.

Real estate market was waiting for REDD

The world is changing so fast that we can’t predict what it will look like in 10-15 years. Meanwhile, the lifespan of a single building is much longer. For example, there are still skyscrapers standing in New York City that are more than 70 years old. Therefore, the real estate market is currently facing many challenges.

Collected and organized data is necessary to wisely build other office properties. This ensures that the planned budget is optimally used and investments bring the highest possible return.

– The faster technology advances, the larger databases are needed. Their use increases the likelihood of making good decisions even in the long run – says Tom Ogrodzki, CEO REDD Group.

In addition, transparent information is hard to come by these days. Distributed, decentralized systems build trust – everyone involved has easy access to data. The market thus gains more liquidity, and managers gain freedom of action.

The next challenge: climate!

The real estate market has one more test ahead: climate pressure. In Poland, buildings are responsible for up to 40% of CO2 emissions into the atmosphere. Structured databases will be a real help for managers and will allow efficient management of the inevitable changes.

Making decisions based on fragmented data, even interpreted by the best analysts, is always about luck. Such things should not happen in such a huge and responsible business. That’s why REDD offers robust data and endless analytical capabilities.

How REDD became the best Big Data product in Central Europe

The strength of REDD lies in its continuous improvement.We consult on our ideas. Behind us, there are hundreds of hours of talks with people both from the industry and from outside.

– We work according to a fixed pattern: listen – implement – test – fix. Cyclical learning is the key to our success – says Tom Ogrodzki, CEO REDD Group.

In addition, we are committed to the day one principle. Every working day is like the first day for us. We are constantly on standby. This adrenaline rush makes us progress quickly.

REDD is revolution

From the beginning, we knew that what we were doing was a real revolution. However, after subsequent enthusiastic reviews, we gained a real wind in our sails. Positive feedback is the biggest reward for us.However, we are not afraid of criticism. It shows us the areas where we can be the best. If people from the industry think that a new idea is impossible to implement, it means that it is good. Usually, it turns out that our perspective is broader, and with the help of new technologies we manage to solve the problem.

The real estate market needs structured data more than other industries – making decisions without reliable information is a huge risk. REDD is a real breakthrough. Good analytics will streamline business decisions and allow you to reap maximum benefits from real estate.

Artificial intelligence will evaluate office real estate. REDD has secured funding for a revolutionary tool

Artificial Intelligence (AI) enters the commercial real estate sector and may soon revolutionize capital investments on the market, which, next to the financial market, is the largest economic force in the world. REDD Real Estate Digital Data (REDD), an award-winning European start-up operating in the Proptech sector, has secured funding for a USD 1.5 million project. The funding will support the development of a groundbreaking artificial intelligence project.

The company managed by Tomasz Ogrodzki and Piotr Smagała intends to use AI technology to revise the foundations of the commercial real estate capital market, the value of which is USD 15 trillion only in Europe.

– The AI market is valued at over USD 300 billion with the prospect of growth to USD 1 trillion in 2029. This value is a result of the extensive use of artificial intelligence in financial sectors, including banking, insurance and stock exchange. The algorithms determining, for example, granting of a mortgage, the amount of insurance contribution or trading machines are not science fiction, but standard business tools. Our goal is to implement this level of innovation on the commercial real estate market. How? REDD AI will enable investment funds to make strategic decisions faster and better – says Tomasz Ogrodzki*, CEO of the REDD Group.

Will Artificial Intelligence replace appraisers?

The new AI technology from REDD will make it possible for commercial real estate funds and other financial entities to analyse the value of selected assets through the prism of not just a few, but thousands of data dimension sets.

– The value of real estate is shaped based on thousands of variables that go far beyond the traditional, imperfect methods of real estate valuation. We believe that the use of neural network technologies capable of identifying the often hidden factors that shape the value of a given asset will be a breakthrough on the market – says Tomasz Ogrodzki, CEO of the REDD Group.

The creators emphasize that investors will be able not only to check the current value of assets, but also to conduct advanced simulations in the future, taking into account market, demographic, as well as geopolitical and climatic factors.

– REDD AI will be fully integrated with our internet platform, which already supports the world’s largest funds that invest in our part of Europe with its data. The revolution will be the ability not only to analyse the selected real estate, but also to intelligently search for undervalued and overvalued assets – says Piotr Smagała, Managing Director, REDD.

REDD AI is a candidate for the Holy Grail of the market. Is it possible?

The creators emphasize that the best professionals from the commercial real estate market and researchers specializing in neural network and big data technologies have been involved in the implementation of the research project.

– Together with outstanding theorists and practitioners we are implementing the project with laboratory precision. Motivated by the successes of similar projects in other industries, we are convinced that our algorithms will be highly reflected in the real property value – says Rusłan Hajduk, Junior Strategy & Operations Manager, REDD.

Data is the new “oil” that will power the world

If “data is the new oil”, then with over 14 billion data we are the largest oil deposit on the commercial real estate market – continues Tomasz Ogrodzki. 

The dynamics of progress gives no choice – add the creators of REDD AI. In their opinion, the data must be analysed from every perspective, repeatedly and faster and faster. It is necessary to wisely build new office properties and to manage those existing ones more effectively.

Artificial intelligence in this industry is an inevitable step and I am glad that we are the first to take it. Making decisions based on fragmented data, even interpreted by the best analysts, is always relying on intuition. With current technologies, such things should not happen – especially in such an influential and responsible business. That is why we offer solid data and endless analytical possibilities provided by AI – Piotr Smagała, Managing Director, REDD

Artificial intelligence to save the climate

Apart from the intention to influence the capital market, there is also a second, fundamental factor for the revolutionary start-up – the impact of real estate on the environment. From the very beginning, the founders have made no secret of the fact that, just like analytics, they want to fundamentally change our way of thinking about planning and managing buildings themselves.

Worldwide, real estate is responsible for up to 40% of CO2 emissions to the atmosphere. Investors and developers have a special responsibility for the future of the planet. Short-term benefits should not be placed over long-term climate effects. I believe that AI’s advanced 5- and 10-year forecasts will provide strong arguments for making wise and responsible decisions about new development projects – Tomasz Ogrodzki, CEO of the REDD Group.

 

*Tomasz Ogrodzki, CEO REDD Group

At the age of 12, on behalf of his dad, he programmed the first real estate database. Today he creates and manages the largest databank on commercial buildings in Central Europe. Together with the REDD team, he creates big data tools that are used by global industry leaders, including CBRE, Cresa, Globalworth, Hines, EY and Savills. Featured in the ranking of 50 Most Creative People in Business 2021. 

“Google Analytics for real estate”. REDD is introducing the first such a tool on the market

REDD, the most advanced data platform, has received the largest update ever. Now it offers the first tool on the market thanks to which its user can track interest in their buildings on an ongoing basis. – REDD 3.0 is Google Analytics for real estate. It changes the way commercial real estate professionals can work – says Tomasz Ogrodzki, CEO of the REDD Group.

Online offers for customers and full analytics

REDD provides new opportunities for agents, real estate owners and investors. Each user can already send an offer prepared by them to their customers online. – Professionals can say goodbye to the spreadsheet once and for all. And this is only the beginning – says Piotr Smagała, Managing Director of REDD.

Almost in real time, every agent preparing an offer can track how much interest there is in it. – From now on, users receive analytics of the offers that have been sent. We see how many people have opened the offer and which building has aroused the greatest interest among potential tenants. Everything on an ongoing basis and online – adds Piotr Smagała from REDD.

The best analytics of offers

“Google Analytics for real estate” is also available to real estate owners. Thanks to the new functionality, owners can follow on an ongoing basis what is happening with their buildings on the market.

We know who saw the offer, when, what interest the building arouses among the agencies, how many offers it was included in, what potential tenants are interested in, how much time they spend searching through information or what photos of the building attract their attention – says Tomasz Ogrodzki, CEO of the REDD Group.

– In the era of access to technology, these are key solutions that enable owners to react quickly enough and accelerate the commercialisation of their space. This is another revolutionary solution on the market – admits Piotr Smagała.

The platform has also introduced the possibility of generating and sending Property Particulars online, and analysing data concerning given real estate

REDD gives a unique opportunity to always be one step ahead of the competition. – Thanks to the new products, our users can verify, analyse and use the data to develop their business and rent their buildings faster – says Piotr Smagała, Managing Director of REDD.

REDD like Netflix

The best business decisions are those that are based on hard data and statistics. REDD’s mission is to streamline the entire work process of commercial real estate professionals. – Our next step is to build a recommendation system like Netflix recommendations. Our system is supposed to know better than customers what they may like in buildings – reveals Tomasz Ogrodzki. But how can REDD know which building best suits a given tenant’s taste?

All thanks to the cutting-edge solutions. REDD is working on a recommendation engine, which thanks to using the data and algorithms, can filter the buildings catalogue and connect them with tenants’ behaviour. – Our systems will check what a given tenant was previously interested in and they will analyse all users of the platform so as to recommend appropriate actions to owners and tenants – explains Tomasz Ogrodzki, CEO of the REDD Group.

REDD is a start-up that can boast about building the largest database on the office market in Poland. Currently, REDD is monitoring over 2,100 properties throughout Poland, which translates into over 13 billion data. The REDD database is used by the largest on the market: Globalworth, Savills, Avison Young Polska or ARC-Capital Markets.

We are transparency. REDD turns “paper business” into full digital

The first visit to a client on the 40th floor of a Warsaw skyscraper was like the first flight by plane, I was even afraid of the receptionist – recalls Tomasz Ogrodzki, the co-founder and CEO of REDD Group. 10 years later, he heads the Polish leader in commercial real estate data with over two thousand buildings in its database. REDD turns “paper business” into full digital, but it also has a different, larger goal – to change the way of thinking about building in general. As Ogrodzki himself says: “it is a building that doesn’t exist yet or exists, but not yet the way it should.”

 Rock, Paper, Scissors

If one had to pick the closest association of a popular game with building, it would definitely be stone. Stone – as it’s a really hard business. The truth is that the real estate market is still “paper”, outdated, it stopped in the 90’s and it doesn’t want to move any further. The modern database is still science fiction. But in REDD, the rule is as follows: if an idea is thought to be impossible, then it means it’s a good idea. And now they already have 13 billion pieces of data to support customers with… and talking about the impossible has quieted down a bit in the industry.

They’ve won because they didn’t play Rock, Paper, Scissors at all, they started playing big data right away.This market consists of many small islands, each of which so far has had its own small database. Most often in Excel or in a binder. In this reality, there is no longer any room for the old system based on the lack of access to data. It’s time for transparency. We are this transparency – Tomasz Ogrodzki, CEO REDD Group.

In Central and Eastern Europe alone, the office space is over 30 million square meters. This cannot be closed in the binder, and it certainly cannot be analysed the way algorithms will analyse it. And it’s not just a matter of those who build and buy offices.

Office building on old diesel

When we pass an old car on the street that emits as much smoke as a small factory, we immediately get outraged. Meanwhile, three-quarters of buildings in the EU are non-energy efficient and most of them will still be there in 2050. Only one 1% of them undergo renovation with a view to reducing their carbon footprint. And in Western Europe, companies already prefer to buy real estate with green certificates, because carbon tax is being talked about more and more often throughout the EU.

Will you be able to sell old diesel for profit in 10 years? Good luck. It is similar in the case of real estate – this is not the time when we can spend money on anything and anywhere without any reflection. We must build objects the function of which we will be able to modify easily and cheaply in a few years. Today, a few years are an epoch, it is difficult to predict what the next one will look like. For all this, you need data, up-to-date data. And we update ours every 28 days or more often – Tomasz Ogrodzki, CEO REDD Group.

This is the next step REDD is already thinking about – building with the planet in mind, taking into account people using commercial real estate, and even those who pass these buildings every day. And of course, with the wallet in mind, but already within sustainable development. Building in a wise way, supported by data, and not just pure profit. Big data will enable us to ask the right questions before a construction project is created.

Troublemaker

The headquarters of the REDD Group is located in Prosta Street and, all in all, the symbolism is very accurate here. It has to be simple, but for the client – on the outside. Because the inside includes: analysing a million data per month, weekly reports and never-ending advanced research. The CEO of the company does not like to talk a lot, usually before he answers a question he leaves himself a moment to think about the answer. But this is not person of a quiet nature – in the duo of the founders, he is the one who puts a spoke in one’s wheel and asks difficult questions.

I like to change the status quo, and this company is there to change it. And it is not, I repeat, only about the status quo in commercial real estate. Oil will run out, real estate will not. Real estate has to be re-invented so that it does not become the Trojan Horse of the planet. I believe that in the next 10 years, the algorithm will not let us build a skyscraper just because there is money for it, and later we will wonder what to do with this giant. Big data will provide us with, among others, a cleaner environment. Data is knowledge, knowledge is effectiveness – sums up the CEO of REDD Group.

REDD connected real estate market with big data

The first entry to the database, 2 years ago, was a famous building at Rondo ONZ in Warsaw. Currently, REDD is monitoring over 2,100 properties, which translates into 13 billion pieces of data! And this is just the beginning – announced Tomasz Ogrodzki, CEO of REDD Group.  

How REDD was created

The real estate market is quite hermetic and conservative. It lacks transparency. Collecting data boils down to entering records into Excel. However, this useful tool has its limitations – the information obtained in this way is difficult to share and verify. This is a huge obstacle to free development and does not allow you to maximize the potential of your data.

– REDD is the only such start-up in Central Europe that takes real estate into the virtual world and collects data on commercial buildingsm – says Tom Ogrodzki, CEO REDD Group. 

We want to fill that gap. We believe that the real estate market can be modern and innovative. We clearly see how smart data solutions are helping the real estate sector grow dynamically.

Real estate market was waiting for REDD

The world is changing so fast that we can’t predict what it will look like in 10-15 years. Meanwhile, the lifespan of a single building is much longer. For example, there are still skyscrapers standing in New York City that are more than 70 years old. Therefore, the real estate market is currently facing many challenges.

Collected and organized data is necessary to wisely build other office properties. This ensures that the planned budget is optimally used and investments bring the highest possible return.

– The faster technology advances, the larger databases are needed. Their use increases the likelihood of making good decisions even in the long run – says Tom Ogrodzki, CEO REDD Group.

In addition, transparent information is hard to come by these days. Distributed, decentralized systems build trust – everyone involved has easy access to data. The market thus gains more liquidity, and managers gain freedom of action.

The next challenge: climate!

The real estate market has one more test ahead: climate pressure. In Poland, buildings are responsible for up to 40% of CO2 emissions into the atmosphere. Structured databases will be a real help for managers and will allow efficient management of the inevitable changes.

Making decisions based on fragmented data, even interpreted by the best analysts, is always about luck. Such things should not happen in such a huge and responsible business. That’s why REDD offers robust data and endless analytical capabilities.

How REDD became the best Big Data product in Central Europe

The strength of REDD lies in its continuous improvement.We consult on our ideas. Behind us, there are hundreds of hours of talks with people both from the industry and from outside.

– We work according to a fixed pattern: listen – implement – test – fix. Cyclical learning is the key to our success – Tom Ogrodzki, CEO REDD Group.

In addition, we are committed to the day one principle. Every working day is like the first day for us. We are constantly on standby. This adrenaline rush makes us progress quickly.

REDD is revolution

From the beginning, we knew that what we were doing was a real revolution. However, after subsequent enthusiastic reviews, we gained a real wind in our sails. Positive feedback is the biggest reward for us.However, we are not afraid of criticism. It shows us the areas where we can be the best. If people from the industry think that a new idea is impossible to implement, it means that it is good. Usually, it turns out that our perspective is broader, and with the help of new technologies we manage to solve the problem.

The real estate market needs structured data more than other industries – making decisions without reliable information is a huge risk. REDD is a real breakthrough. Good analytics will streamline business decisions and allow you to reap maximum benefits from real estate.

More than 13 million square metres of office space in Poland

REDD Real Estate Digital Data report shows that the total resources of office space in Poland have amounted to 13.36 million square metres at the end of November. 1.25 million square metres of office space were under construction.
According to REDD data, at the end of November, a total of 2.86 million square metres of office space were available in existing buildings and those under construction. In Warsaw alone, 900,000 square metres of space available “off the shelf” is waiting for tenants.

“November saw a slight increase in vacant space available for lease across the country. Vacant space in buildings under construction amounted to over 834,000 square metres. Vacant office space in existing buildings also increased and amounted to 2.16 million square metres,” says Piotr Smagała, Managing Director at REDD. 

Warsaw: Less amount of B Class space

In November 2021 the capital’s office space resources have reached 7 million square metres. This is mainly modern space.

Dividing Warsaw’s office buildings into classes, we see interesting numbers. 4.98 million square metres of the capital’s office space is located in A-class buildings, over 2 million square metres is B-class space. Interestingly, the resources of B-class space dropped by over 13 thousand square metres in November. The number of class C space remains unchanged. It is over 80 thousand square metres,” explains  Piotr Smagała, Managing Director at REDD.

The high level of new supply and the lower demand recorded since the beginning of the pandemic have resulted in an increase in vacancy rates. The ratio for Warsaw rose to 13.08 per cent in November 2021.

901,000 square metres of modern space remained available for immediate lease, and a further 26,000 square metres may be added to the inventory of immediately available offices over the next 3 months.

The average rent in Warsaw rose to EUR 13.89/month. In turn, the capital’s REDD Index fell and stands at 360 days. REDD INDEX is an indicator, calculated in days, of the average time it takes to lease office space.

In Warsaw, 454 thousand square metres of offices were under construction at the end of November 2021.

Marynarska Point I changes hands

Savills Investment Management has completed the disposal of Marynarska Point I, an office property located in Warsaw to an investment fund managed by Adventum Group. The parties have agreed not to disclose the purchase price.
Marynarska Point I is an office building located at 15B Postępu Street in the Mokotów district, the largest non-central business zone in the Polish capital. It offers in total 13,270 sq m of modern office space and retail area on the ground floor. For more than a decade it hosted such reputable companies as Generali or Nielsen. The property has been BREEAM In-Use Excellent certified.

“We are pleased to have completed the transaction with Adventum. The sale of Marynarska Point 1 is in line with our strategy to concentrate on core assets and, following an earlier sale of a building in Hamburg, marks the end of disposition activities for our European Office Fund,” – says Piotr Trzciński, Head of Investment, Savills Investment Management in Poland.

“The acquisition of the BREEAM Excellent In-Use certified Marynarska Point into the Adventum Penta fund underlines our commitment to ESG standards and the further expansion planned in Poland. We are pleased to have cooperated with Savills Investment Management on the transaction,” – says Kristóf Bárány, Partner, Adventum Group.

“Marynarska Point I is a greatly located office asset with significant value-add potential. The property benefits from extensive city infrastructural investments, including redevelopment of Marynarska Street. Mokotów’s business district has significantly increased its attractiveness to investors thanks to transportation improvements and changing landscape with more residential developments,” – says Marek Paczuski, Deputy Head of Investment, Savills Poland.

Savills Investment Management (Savills IM), an international real estate investment manager, was acting on behalf of Savills IM European Office Fund, an open-ended special fund for institutional German investors.

Adventum Group is an investment fund manager focused on Central European real estate investments, with approximately EUR 500+ million in assets under management in office and retail investments within Hungary, Poland and Romania.

Savills Investment Management was advised by Savills Poland, Dentons and ATA Tax, while Adventum Group was represented by BSWW,  MDDP and Avison Young.

REDD shares data with ShareSpace. New client of the platform

REDD Real Estate Digital Data (REDD), the largest database on commercial properties in Poland is sharing data with ShareSpace company. New REDD’s client is a platform helping companies to find the right office space.
“The REDD platform is the only provider of such commercial property data in Poland. We work with industry leaders who see data as a source of advantage and added value. We are delighted that our base can support ShareSpace, the platform connecting corporations with coworking centres. This is a company that is changing the commercial property market just like REDD. We share a similar DNA,”  says Piotr Smagała, Managing Director at REDD.

REDD and ShareSpace

As part of the cooperation, REDD provides ShareSpace with the continued access to 10 million pieces of data on office market.

“When a company is looking for an office, it needs concrete, solid data. If our platform didn’t keep them up to date, we wouldn’t be able to respond to the demand of customers who, after all, are looking for quick answers, seconds after entering the site. Our ShareSpace advisory team works in a similar way. They are also able to provide customers with information based on the latest data: availability of offices in a specific location, monthly charges, possibility of subletting, etc. This is possible, for example, thanks to the cooperation with REDD,” says Robert Chmielewski, co-founder & CEO ShareSpace, the platform helping companies to find the right office space.

“Thanks to automated REDD data integration, ShareSpace is provided with real-time data, which can have a significant impact on accelerating the commercialisation of office space,” adds Piotr Smagała from REDD.

“Our strength lies in the unique combination of tools built at the crossways of property industry and modern technology. Every day we collect and process millions of pieces of data on properties, rental space, transactions and market trends,” says Tomasz Ogrodzki, founder of REDD.

REDD cooperates with GUS

At the beginning of February, the REDD platform also signed an agreement with Statistics Poland (GUS). As part of the pilot project, REDD will provide GUS with analytical data to enable experimental statistical research aimed at monitoring changes taking place on the office property market in Poland.

 

REDD concludes a critical phase of studies on Space AI project

REDD Real Estate Digital Data (REDD) will unveil a Space AI tool for office building owners in the first half of this year to help reduce the negative effects of the COVID-19 pandemic that hit the market. REDD is a polish prop-tech start-up, which has built the largest database of office properties in Poland. The platform has been revolutionising the commercial property market for over two years.
Already in the testing phase, Space AI algorithms provide a forecast accuracy of 89 percent, thus showing the future demand for offices in Poland.

“For more than a year, we have been working on a tool based on artificial intelligence that will allow office building owners to effectively forecast their rents and adapt their strategies to the market situation. It will be a revolution to the market. Our aim is to halve the period in which offices remain vacant,” says Tomasz Ogrodzki, founder of REDD.

Today, as the REDD Index* shows, offices remain vacant in Poland for 296 days.

Vacant offices generate huge losses

REDD data show that in 2020, many offices were left vacant. Indicators show that at the end of 2020, almost 1.8 million square metres in completed buildings remained without a tenant, while another 740,000 square metres in buildings under construction had already been commercialised.

Vacant office space generates huge losses for property owners, which at the current level of vacant space can reach up to PLN 1 billion per year,” says Piotr Smagała, Managing Director at REDD.

“Artificial intelligence and big data are the strategic fuel of the commercial property market. As the largest data provider, who has collected over 10 million pieces of data in the last two years and monitors 2,000 office buildings, we have a real influence on the shape of this market,” adds Tomasz Ogrodzki, REDD co-founder.

In addition to Tomasz Ogrodzki, Piotr Smagała, who has been developing technology projects for property for over 10 years, is also responsible for Space AI project. In 2014 he founded “Talkin’ Things” startup. He is the winner of the “Impulse for Business” award for the most innovative start-ups.

The creators declare that the project is in its final phase, in which the artificial intelligence model is being optimised for new data that is constantly flowing into the REDD databases.

REDD cooperates with GUS

At the beginning of February, the REDD platform also signed an agreement with Statistics Poland (GUS). As part of the pilot project, REDD will provide GUS with analytical data to enable experimental statistical research aimed at monitoring changes taking place on the office property market in Poland.

REDD provides data for GUS. The agreement has been signed

REDD Real Estate Digital Data (REDD), the independent platform providing data on the commercial real estate market in Poland, has signed the agreement with Statistics Poland (GUS).  The platform, as part of the pilot project, will provide GUS with analytical data to conduct experimental statistical research in order to monitor changes on the office market in Poland. 
Bearing in mind the growing consumer demand for data, Statistics Poland is taking steps to increase the information capacity of its resources.

“One of the priority activities of Statistics Poland is the identification of modern, non-public information systems, which can be a source of data for research conducted within the Polish official statistics. Therefore, Statistics Poland is acquiring information from non-statistical databases on an increasing scale, analysing it for potential use in statistical research. Cooperation with REDD is another step in building statistics based on modern solutions. The datasets obtained will allow, for the first time, public statistics to undertake development activities aimed at developing experimental indicators for cross-sectional and in-depth analyses of the commercial office property rental market. Depending on the outcome of this work, datasets derived from the REDD platform may become an official data source for outcome information developed by public statistics in the area of commercial real estate market,” says Dominik Rozkrut, President of Statistics Poland.

Statistics Poland has been acquiring data from non-statistical data sources for many years thanks to cooperation with public administration units, as well as from private data providers. These include ministries, Social Insurance Institution (ZUS), National Health Fund (NFZ), Financial Supervision Authority (KNF), entities keeping official records or companies providing public utility services. From now on, it can also use the REDD platform data.

Data on office property rental marks a new chapter in official statistics

GUS collects data, and on their basis prepares outcome information concerning various areas of socio-economic life of the country, and in particular makes available studies on, among other things, the environment protection and condition, society and various aspects of the population’s life, as well as the functioning of various areas of the national economy, including the real estate market. Currently, the main source of information presented by public statistics on this market in Poland is data obtained from the public Register of real estate prices and values. The data provided by the REDD platform will open up new opportunities for the GUS statisticians to analyse the key area of commercial real estate – the office sector.

“This is an extremely important cooperation for the commercial real estate market in Poland and the broadly defined financial sector. The data we provide to the Statistics Poland fill an information gap regarding this sector of the economy, which over the last 30 years has developed into one of the most important branches of Polish economic life. We are proud to contribute to this landmark event for official statistics in Poland. Every month we update our database with over one million pieces of real estate market information stored in modern and secure data centres. This gives great opportunities for analysts, and for those using GUS reports and studies, it opens the way to broader knowledge of the impact of real estate on the development of the Polish economy”, says Piotr Smagała, co-founder and managing director of REDD.

The largest database in Poland

REDD Real Estate Digital Data is the largest database monitoring the office market in Poland. Analysts monitor 2,000 buildings located in 26 cities 24 hours a day, 7 days a week. Aggregation of data in the cloud enables fast and simultaneous processing of any amount of information as well as conducting unlimited operations on data.

REDD experts’ mission is to provide the most transparent and reliable data. Using technologically advanced tools, the REDD platform provides information on lease terms, current offer of commercial space for rent, rental rates or trends and forecasts on the situation on the commercial real estate market. Every transaction starts at the REDD platform.

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