Tech rush in Warsaw

Poland has recently been considered a successful location for core and traditional businesses. Various production and services industries, particularly auxiliary corporate services, have been moving to Poland’s capital for at least a decade. This trend has translated into a booming offce segment within the real estate economy.

Now, particularly during and after the pandemic, we are seeing new trends emerging. Among the sectors developing most intensively in Warsaw are IT companies, responsible for 32% of offce demand (while business services account for 16%, and production and energy for 14% of demand).

Tech companies have identified five good reasons why they are moving their tech hubs to Warsaw:

1. Affordable software development recruitment
2. Poland has the most skilful IT workforce in the world
3. Poland’s engineers are ambitious
4. Large-scale consulting is available
5. Language proficiency matches technical expertise

Google, Microsoft, Nvidia, and Activision Blizzard have invested heavily in Warsaw and other Polish cities, running R&D centres filled with top-quality talent. Many of them are female employees, which is not that common in California’s Bay Area or other US-based tech centres.

And more is coming. NYSE-listed Snowflake recently announced the opening of a programming centre in Warsaw. Google alone leases a 14-storey offce in Warsaw’s business district and has recently announced that it will buy the entire “Warsaw Hub” offce complex. The price is expected to be around EUR 583 million, which will be a record high singleasset price for a property in Warsaw.

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Photo: patrick - stock.adobe.com