Katowice in the centre of change

City Hall of Katowice has launched a webpage www.przemiana.katowice.eu which is addressed to investor and everyone who might be interested in the City Center redevelopment. Provided both in Polish and English is giving a chance to get the feel of planned changes, investment offer for potential participants and general info about the City. Instead of market situation, the City’s authorities count on investors. To help them with reaching the informations about the redevelopment, the City Hall is planning to spend PLN 700 000 for the promotional campaign of the project, titled “Katowice in the centre of change”.

In face of above, katowiecthecity.com tries to move near market situation in Poland and Katowice in a few facts and figures.

As initial panic in the property markets gave way to analysis, Poland’s sound economic fundamentals began to emerge. We are already witnessing the advent of opportunity investors, suggesting that the distortions caused by the CE associations will likely self-correct. With the exception of some regions and property types, investors are returning in the hope of gaining market share at a bargain; and with good reason. Poland compares well in relation to both its neighbors in Central Europe and with the EU-25. With growth averaging 5.5% during the period from 2004 to 2007 and 4.8% in 2008, Poland is comparable to the Czech Republic and well above Hungary. 2009 is forecasted as lower, but only the most pessimistic seers expect negative growth. Although capital accumulation remains a key component to recovery, with the ratio of exports to GDP at 41% (Hungary and the Czech Republic are at 81% and 77% respectively), Poland is likely to be more resilient to declining demand from Western Europe.

Katowice is one of the seven key Polish economic and business centers. The most important and interesting datas are gathered in table below.

based on Ernst&Young report

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