PT News Flash

E-mobility | 22.05.2020

Support programme for purchase of electric vehicles close to completion

The Climate Ministry (Ministerstwo Klimatu) is finalising its work on facilitating financial support for the purchase of electric vehicles by individuals and businesses, the Ministry said on Thursday. The programme also includes financial support for the construction of charging stations. Source: wnp.pl

Exhibition Industry | 22.05.2020

Trade fair companies face closure

Cancellation of trade fairs across Europe started in February and since then the industry has been standing still. In Poland, companies in this sector have been treated no differently to companies in sectors of the economy less affected by the pandemic or able to be at least partially active through remote working. Business leaders in the sector have ask the government to treat the trade fair sector as a priority. Source: biznes.newseria.pl

Electricity | 21.05.2020

Implementation plan for electricity market reforms adopted

The plan to implement electricity market reforms was adopted by the Committee for European Affairs, according to the Climate Ministry (Ministerstwo Klimatu) on Wednesday 20 May. The plan concerns electricity market reforms in five areas: balancing market, demand-side response (DSR), retail market, network development and cross-border interconnections and allocation limitations. The effects of the coronavirus pandemic and its negative consequences for the timely completion of the current investments and reforms has been taken into account by the Committee. Source: wnp.pl

Real Estate | 21.05.2020

Warsaw: Elektrownia Powiśle mixed-use retail & food court opens in revived factory

The long-anticipated Elektrownia Powiśle scheme, a mixed-use alternative-retail & food concept, has opened by the banks of Vistula RIver, creating a new destination in Poland’s capital city overnight. While luxury loft-style apartments and a boutique hotel are still to come, the international food hall is open, as are several stores. The project has been delivered by Tristan Capital Partners and Whitestar Real Estate and sits next to the also recently-opened Elektrownia Powiśle office building. 

Real Estate | 20.05.2020

Shopping malls post surprisingly good results

Daily visits to 90 shopping centres across Poland, during the first week of re-opening, ranged between 53% to 68% of the same period in 2019, according to The Polish Council of Shopping Centres, based on data from its members. Source:renews.pl

Finance & Banking | 20.05.2020

Polish Bank Association: 800,000 applications for loan instalment deferrals

According to data from the Polish Bank Association (Związek Banków Polskich), by 30 April 2020 the total number of applications from consumers for credit instalment deferrals slightly exceeded 800,000, of which 675,000 (approx. 85%) were granted. In the last two weeks of April about 180,000 new applications were received. Source: renews.pl

Real Estate | 20.05.2020

UTri-City posts lowest office vacancy among regional cities

According to Cresa Polska’s “Occupier Economics: Office market in Tri-City in 1Q 2020″ report, the volume of transactions in the first quarter reached nearly 33,100 sqm, which is 34% of the annual average for the period 2015-2019. Vacancy stood at 4.1% at the end of March, a decrease of 1.3 p.p. compared to the previous quarter. This is currently the lowest vacancy-to-stock ratio among the main regional markets.

Education | 19.05.2020

Universities in Cloud

Although e-learning and remote learning technologies have been present in Polish universities for years, the forced closure of the institutions has forced the spread of its use, making it a necessity. The transition to 100% remote teaching has given rise to a number of challenges, from statutory and legal to logistics, technology and equipment. But paradoxically, this shock therapy may prove to be an incredible opportunity for higher education and a stimulus for changes that would ordinarily take place over many years. Source: cyfrowa.rp.pl

Automotive | 19.05.2020

Car factories in Poland slowing, job losses inevitable

The unpredictable situation in the automotive industry is making it difficult to forecast what the future holds for the sector. According to KPMG and the Polish Automotive Industry Association, the first quarter has already seen production of automotive vehicles in Poland (all types) decrease by 13.2% y/y to less than 149,000 vehicles. The second quarter is therefore likely to see a complete collapse, including in the production of parts and accessories. A steep drop in automotive exports, which in 2019 reached a record level of EUR 27.85 billion, is certain. Source: moto.rp.pl

Construction | 18.05.2020

Contractors anticipating lucrative road tenders

The construction industry, concerned about the economic consequences of the coronavirus pandemic, is looking out for tenders for new sections of motorways, expressways and bypasses to be announced this year. The total value of investments is estimated at over PLN 12 bn (EUR 2.6 bn). Source: Wnp.pl

Politics | 17.05.2020

New opposition presidential candidate

The Civic Coalition (Koalicja Obywatelska), Poland’s largest opposition group, announced Rafał Trzaskowski, the Mayor of Warsaw, as its new presidential candidate. “I stand before you as a candidate who takes on a responsibility of fighting for democracy,” Trzaskowski said in his campaign launch speech.

Economy | 17.05.2020

Poland’s GDP contracts

The Polish economy contracted by 0.5% in Q1, according to a preliminary estimate by Statistics Poland (the national statistics office – GUS). This means that the fight against the coronavirus pandemic, which started in Europe for good in March, absorbed the growth that was achieved in the first two months of the year. Source: Rzeczpospolita 

Tourism | 15.05.2020

Government Initiative to support domestic tourism

The Polish Government is planning a PLN 7 bn initiative called “Tourism Voucher 1000+ (” Bon Turystyczny 1000+), to support domestic tourism across the country. The key condition is that the receipient shhould have an employment contract and earn less than the monthly average.

Real Estate | 15.05.2020

#Property4Heroes growing stronger

The commercial real estate market’s initiative aiming at supporting hospital staff and ambulance crews throuhout Poland is getting stronger.  Recently new members joined the project, i.e.: CA Immo, Capital Park Group and Savills Investment Management.  They will support the initiative together with: CPI Property Group, Echo Investment, EPP, Ghelamco, Globalworth, Griffin Real Estate, HB Reavis, Immofinanz, Invesco Real Estate, Panattoni , Skanska and Vastint.

Real Estate | 15.05.2020

NOBU is here!

The five-star Nobu Hotel Warsaw is soon to open in Warsaw city centre. It will be the first hotel of the brand in Central and Eastern Europe. Robert de Niro, the hotel brand founder, declared ” I am taking part of New York with me to Poland”. The grand opening is planned for June 2nd.