New Launch - India Real Estate Report 2026.
Skanska has started construction of a new office complex in Krakow, marking another step in the company's development activity in the Polish commercial property market.
The project comes as Krakow continues to attract companies seeking modern office space in well-connected locations.
The city had around 1.87 million sqm of modern office stock at the end of June 2026.
Development activity remains limited, with only a small number of new projects moving forward.
This makes new high-quality office schemes important for the city's future supply.
Krakow Office Market Shows Changing Demand
Office demand in Krakow shifted towards central locations during the first half of 2026. Newmark data showed that occupiers became more selective about location and workplace quality.
Office take-up exceeded 73,000 sqm during the period. However, this was more than 57% lower than the exceptionally strong result recorded in the first half of 2025.
The city's overall vacancy rate stood at 19% at the end of June. Central locations performed better, with vacancy of around 10.5%, according to market research cited by EuropaProperty.
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Limited New Supply Supports Prime Offices
Only 27,300 sqm of new office space was delivered in Krakow during the first half of 2026. All of this new supply was located in the city centre.
CBRE said development activity remained restrained. The limited pipeline is expected to keep competition focused on modern, energy-efficient and well-connected buildings.
Prime office rents remained relatively stable during the first half of the year.
Rents generally ranged from €14 to €18.50 per sqm per month, while the newest central projects reached €19 to €19.50.
Also Read: Bob W Joins Tallinn's Krulli Quarter Regeneration Project
Skanska Strengthens Krakow Development Activity
The new project adds to Skanska's long-standing presence in Krakow.
The company has previously developed office projects in the city, including the High5ive complex, which provides around 70,000 sqm of office space.
The latest development comes against a backdrop of restrained office construction and changing tenant preferences.
Modern projects in central and well-connected areas are expected to remain attractive as companies focus more closely on workplace quality and accessibility.
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