Ghelamco remains undeterred

Even the ongoing crisis that hit the growth of BPO centers in regional cities across Poland hasn’t proved much of a deterrent, according to Jeroen van der Toolen, managing director of Ghelamco in Poland. Ghelamco is pushing forward with its 17,500 sqm Katowice Business Point, to deliver early next year.

“We’re seeing the effects of the slowdown, like tenants reducing their demand by 10 to 15 percent, and they’re taking longer to sign leases, but still we’re aiming to pre-let 40 percent of our project by August and the rest by completion,” says van der Toolen.

According to him, it would even be better for those developers who have not yet started their projects to delay them slightly. “It would be best not to have tens of thousands of square meters of office space come to the market at the same time. Demand will pick up anyway to meet the supply of projects delivered a bit later,” he says.

The coming months will reveal whether other developers with plans to develop office space in Katowice do as Ghelamco suggests.

Source: CiJ Journal