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The series of short reports will include the following cities: Kraków, Wrocław, Poznań, Szczecin, Trójmiasto, Łódź, Katowice and Bydgoszcz. All parts of the series will appear regularly within the next month.

Krakow is the second, after Warsaw, largest office market in Poland, offering 487,000 sqm of modern space. Further 109,000 m2 is under construction. Krakow has the lowest vacancy rate of all Polish regional cities - only 2,9%. The rents are stable ranging from 13 to 14,5 euro per m2. During the first two quarters of 2013 the transactions on office market amounted to 55,000 m2. Limited availability of office space has largely impacted the type of agreements which dominated the market – 39% were pre-let agreements whereas 18% were renegotiations.

The most important tenant group in Krakow is represented by the companies from the BPO sector, which participated in over 80% of transactions on the market in 2013. The biggest BPO tenants in Krakow are AAC Lufthansa, Amway, Delphi Automotive, Philip Morris and Shell. The total office space in Krakow is anticipated to reach 720,000 m2 by the end of 2015. Among biggest projects under development are such investments as Kapelanka 42 (28,400 m2, Skanska), next two phases of Quattro Business Park (25,000 m2, Buma Group) and Orange Office Park (18,300 m2, East-West Development Office) are worth mentioning.

"Kraków is and will continue to be one of the most important office markets in Poland, especially for BPO, ITO & SSC sector occupiers. The Kraków report and those on the other 7 major regional office locations that will follow evidence the strengths and attractiveness of the Polish regional cities. We believe they will continue to attract inward investment from overseas tenants as well as support the expansion of the activities of companies already present.” - comments Paul Blackman, International Director and Head of BPO and Occupier Services in Eastern Europe, Colliers International.