2019 was characterised by a very good market environment. However, initial indicators suggested that this trend would not continue in 2020 and that the market would lose some of its momentum. Warimpex is active in various markets, which makes the Company more resistant to the economic slowdown in single markets or even a group of countries. A further advantage is the differentiated portfolio. Warimpex focuses on the development of offices, hotels and everything in between. This makes our business less susceptible to short-term fluctuations in individual segments. Particular importance is attached to non-capital cities, where there is a continued high demand for modern office space.

Many project developers are only just discovering the potential of these cities, whereas Warimpex has been present and active there with experienced teams and profitable projects.All of these are strong factors that lead us to expect a successful and stable business development this year. 

The best of both worlds

In Warimpex's more than 60-year history, the company has always anticipated changing market environments. The office market is currently in a state of change. The old office market was characterised by long-term leases. Pension funds and insurance companies have thus brought a long-term stable stream of rents. The new market is characterised by co-working spaces with short contracts. Therefore, we intend to reserve 10 to 20% of the new office space for co-working, in which high-quality services play a major role. Since we are so experienced in hotel business, which is based on the provision of service, we know the short-term business very well and are able to combine the best of both worlds. We are looking forward to giving you more details about our projects in the near future. 

P.S.: More general information on the European real estate market 2020 can be found in CBRE's EMEA Outlook 2020, which is available for download, free of charge.