2006 was a record year for the office property market in Warsaw as 412,000 m[sup]2[/sup] was taken up, according to the Warsaw Research Forum, a consortium of real estate agencies including CB Richard Ellis, Colliers International, C&W, DTZ, Jones Lang LaSalle and King Sturge.

2006 was a record year for the office property market in Warsaw as 412,000 m2 was taken up, according to the Warsaw Research Forum, a consortium of real estate agencies including CB Richard Ellis, Colliers International, C&W, DTZ, Jones Lang LaSalle and King Sturge.

The largest deals in the city centre were signed in Millennium Plaza with the leasing of 5,900m2 by the computer services company ABG Ster-Projekt and the leasing of 4,800 m2 by lender Polbank EFG in the Riverside Park area. In non-central locations, the largest deal was Fortis Bank entering Trinity Park II office area with the leasing of 11,200 m2.

Some 186,700 m2 of new office space came onto the market during 2006, as 21 office buildings were completed. The largest development project was Rondo1, a 55,000 m2 office area in the core of the city centre. The vacancy rate for the city at the end of the year stood at an average of 5.4%, a fall of 1.2% year-on-year, the Warsaw Research Forum said.