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Piotr Flugel: The primary trend driving the development of the industrial logistics sector in Poland is nearshoring

24.04.2024 Reports

In 2023, the Polish warehouse market experienced a period of dynamic changes that set new directions for development and challenges for the industry. In the REDD Report: Warehouses 2023 Summary /2024 Outlook, we present how the market situation evolved in 2023 and forecast the changes that 2024 will bring. We sought comments on the most important changes and upcoming trends from experts in the commercial real estate market. Below is a statement from one of them.

Piotr Flugel, Managing Director Poland, CTP:

Last year, we witnessed a slight slowdown in the warehouse market. Various macroeconomic and geopolitical challenges influenced decisionmaking processes for both investors and lessees. However, in 2024, we anticipate an improvement and long-term stabilization in the market, with a noticeable rebound across all indicators.

The primary trend driving the development of the industrial logistics sector in Poland is nearshoring, which began in previous years. However, the implementation of such investments takes time, leading to relatively low implementation dynamics despite widespread discussion. Relocating production closer to markets and regionalizing supply chains now offer significant cost savings for businesses and, more importantly, help mitigate risks associated with disrupted transport routes and potential contractor losses. No one wants to experience further crises such as a traffic standstill in the Suez Canal.

Another crucial aspect of business relocation is Environmental, Social, and Governance (ESG) considerations. Businesses need to tackle the challenges they face in this area, with optimizing delivery processes being one of the primary objectives. Poland not only offers attractive rents for warehouse space compared to its neighbors but also boasts an extensive and reliable network of connections with other European countries, including an improving maritime infrastructure. Consequently, we anticipate an increase in leasing transactions and investment activity in the region. This is supported by CTP’s ongoing expansion in the country. We aim to deliver high-quality, sustainable industrial and logistics complexes with a growing focus on flexible solutions and community-building around our investments.

The original comment appeared in the REDD Report: Warehouses 2023 Summary /2024 Outlook. The full report is available for download through the form below.


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