Poznań Thriving modern business services hub 2018 - JLL

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Poznań Thriving modern business services hub 2018 - JLL
Po z n a ń                   Thriving modern business services hub
                                                                                  2018

Poznań - Thriving modern business services hub | 2018                                1
Poznań Thriving modern business services hub 2018 - JLL
Bałtyk, Garvest, fot. © Przemysław Turlej
Poznań Thriving modern business services hub 2018 - JLL
Economic background and a vivid city life
Poznań’s economy is growing rapidly and it is one of the        Poznań is located halfway between Berlin and Warsaw and
strongest across the country. This coupled with excellent       boasts an agglomeration of 1 million people. It is featured
reputation of the city as an established academic centre        in many prestigious rankings as the most business-friendly
makes Poznań one of the best places to invest in in the wider   city in Poland. Furthermore, Poznań is one of the TOP-3
region. Well developed and expanding road infrastructure,       Mid-sized European cities in Business Friendliness according
namely the A2 motorway, connects Germany with Poznań            to fDI Magazine by Financial Times. The total number
and agglomerations of Warsaw and Łódź. Moreover, the road       of business entities per capita operating here and the value
network around Poznań will be further improved in the near      of direct foreign investments is among the highest in Poland.
future. The infrastructure is also enhanced by continuously     Moreover, the unemployment rate here has been the lowest
growing Poznań-Ławica airport which provided services           in Poland for many years now. Poznań is also characterized
for 1.8 million passengers in 2017 alone.                       by a high purchasing power of €9,500 per person/per year
                                                                (39% above national average).

                       Population

    540,400                       1,000,000
            city                      agglomeration

           24                        112,000
  Higher education                       students
     institutions

                                                                                               Stary Browar, fot. © Paweł Florczyk
Poznań Thriving modern business services hub 2018 - JLL
Nowy Rynek, © Skanska Property Poland

                     1.4%                  190                               112,500
          Unemployment rate              R&D entities                      Business entities
                                                                          operating in Poznań

               3.2%                     €21,500                            €1,200
                                                                              Average salary
              GDP growth                GDP per capita

4                                                        Poznań - Thriving modern business services hub | 2018
Poznań Thriving modern business services hub 2018 - JLL
Rating: A3                             Moody’s with a stable outlook
Poznań offers many diverse and appealing ways of spending one’s free time. A wide range of cultural and sporting events,
combined with wining and dining options in the city centre and on the Warta riverbank make Poznań a vibrant and exciting
place to live.

Entertainment and culture

        13                             29                           21                          40                         10
        CINEMAS                       MUSEUMS                     THEATERS                 ART GALLERIES                STADIUMS

      138                              14
                                INDOOR SWIMMING
                                                                 503
                                                                SPORTS FIELDS
                                                                                                   1
                                                                                               CAR TRACK
                                                                                                                       500
                                                                                                                         restaurants
   TENNIS COURTS                                                                                                          and bars
                                     POOLS

Some of the top Poznań attactions are listed below.

In the very heart of the Old Market                Nocny Targ Towarzyski - a place               The Old Brewery is a unique center
Square there is the beautiful                      inspired by Asian markets, where              that combines business, art and
Renaissance Town Hall. Every day,                  shopping craze mixes with trying              shopping, created in a former 19th
as the clock strikes noon, on the tower            new dishes and flavors. A dozen or so         century brewery. Apart from many
opens, and two billy-goats appear.                 selected exhibitors present periodically      shops, there are also beer gardens,
Controlled by the clock’s mechanism,               their spectacular menu and street food        clubs, a park, an arts center and a 5-star
they butt their horned heads 12 times.             dishes from their pubs.                       hotel. In 2005, the Old Brewery received
                                                                                                 the International Council of Shopping
Poznań is definitely a city for sports             FoodHall - a place where you will find        Centers Award in the best medium-
enthusiasts. Maltańskie Lake is a venue            15 different restaurants from around          sized shopping center in the world
for one of the most advanced regatta               the world located in the building of the      category.
courses in Europe and its surroundings             old Poznań Główny station. The interior
contain a year-round open artificial ski           refurbished in a post-industrial style        INEA stadium is famous for its grand
slope and a toboggan run, just to name             is a place full of meetings and cultural      atmosphere. It was the arena of UEFA
a few.                                             events.                                       EURO 2012 football championship.
                                                                                                 It can hold up to 43 thousand sports
KontenerART - is a “mobile cultural                The Poznań’s largest urban Citadel            fans. It is a place of exciting sporting
center” that operates from May                     park is around 100 hectares and is            events, great concerts, shows, meetings
to October, every year, since 2008.                located in the center of the city, on the     and other spectacular events.
Concerts, workshops, meetings with                 remains of a former Prussian fortress.
authors and ecological campaigns                   Until the 19th century it was a hill          Wings for Life World Run is the only
are presented here. Everything is                  with a picturesquely located village          global charity run in which the finish
surrounded by the beach near the river.            of Winiary (the name referring to vine        line, being a Pursuit Car, is chasing
                                                   cultivation). There is also a large city      players. Poznań hosts also a marathon,
                                                   beach and 4 lakes within the city’s           a halfmarathon and triathlon and many
                                                   limits.                                       other sport events for amateurs.

Poznań - Thriving modern business services hub | 2018                                                                                     5
Poznań Thriving modern business services hub 2018 - JLL
Office market in Poznań

 455,000 m² 78,000 m²                                                    €13.6-14.5                                        8.6%
        Total modern                   Office demand                     m²/month                                       Vacancy rate
         office stock                       2017                                                                          Q1 2018
                                                                     Prime headline rents

Poznań. A famously strong economy, host of Poznań                    pipeline will allow Poznań to cross the 500,000 m² stock
International Fair, a firm leader among Polish trade facilities,     threshold next year.
vibrant academic centre, important industrial and logistics
hub and a place with high quality of life. All these factors paint   The growth of the market on the supply side is determined by
a vivid picture of Poznań as a thriving agglomeration, which         the demand for offices in Poznań. Historically, the occupier
translates into one of key business locations on the map of          activity in Poznań has seen some level of volatility but since
Poland. This is further underlined by expanding office market        2015 the market is booming. The demand for offices surged
and supporting infrastructure.                                       and forecasts remain optimistic. In 2017 record-breaking
                                                                     78,000 m² was transacted on and 2018 is off to a good start.
Currently Poznań is the 5th regional office market in terms          Poznań is also home to a number of international companies
of size (after Kraków, Wrocław, the Tri-City and Katowice)           from the modern business services sector, which has become
with modern office stock totalling almost 455,000 m².                one of the main driving forces of the development of the
That includes established developments such as Andersia              market. These firms include global brands such as Franklin
Business Center & Tower, Bałtyk, Malta House, Malta Office           Templeton Investments, GSK Services, MAN Accounting
Park, Maraton, Pixel, Poznań Business Garden, Poznań                 Center, the Roche Global IT Solutions Center and Sii, among
Financial Centre and many others. The under construction             others.

                           Demand evolution                                           Demand distribution across
                          in Poznań 2010-2017                                         regional office markets 2017

Source: JLL, PORF, 2018                                              Source: JLL, PORF, 2018

Increased interest in Poznań offices from corporates resulted        Such market conditions, coupled with limited availability
in a steady decrease in the vacancy rate across the city.            of under construction product resulted in increase of prime
The rate peaked in 2015 at the level of almost 16% while             headline rent, which now stands at €13.6-14.5 m²/month.
currently it oscillates below 9%, which is one of the best
results in Poland. Moreover, the vacancy is scattered across         Poznań is a rapidly expanding market with great prospects
40 buildings and the availability of large modules is scarce.        for further growth. The business activity in the city
Firms looking for a significant space have to consider pipeline      is constantly increasing, both from firms present in Poznań
developments in order to secure desired office premises.             as well as newcomers.

6                                                                                              Poznań - Thriving modern business services hub | 2018
Poznań Thriving modern business services hub 2018 - JLL
Map of major existing and under construction office
developments in Poznań

      existing under construction

No. Building                                        No. Building                          No. Building
   1 Andersia Business Center                           11 Kupiec Poznański               21 Skalar Office Center
   2 Andersia Tower                                     12 Malta House                    22 Stary Browar
   3 Bałtyk                                             13 Malta Office Park              23 Szyperska Office Centre
   4 Biurowiec Za Bramką                                14 Maraton                        24 UBIQ Business Park
   5 Business Garden Poznań I                           15 Nobel Tower                    25 Winogrady Business Center
   6 Centrum Biurowe Podwale                            16 Okrąglak & Kwadraciak          26 Business Garden Poznań II
   7 City Park                                          17 PGK Centrum                    27 Giant Office
   8 Delta House                                        18 Pixel                          28 Nowy Rynek A&B
   9 Galeria Franowo                                    19 Poznań Business Center         29 Pixel 4&5
 10 Globis Poznań                                       20 Poznańskie Centrum Finansowe

Poznań - Thriving modern business services hub | 2018                                                                    7
Poznań Thriving modern business services hub 2018 - JLL
Poznań has always been a city that was able to perfectly combine higher education, development,
                         business and innovations. Such positive market fundamentals are further boosted by availability of
                         high quality real estate that allow for growth of the business activities and increase of headcount, which
                         is important for any company. The office and its surroundings are a part of our long-term employer
                         branding strategy that influence employees’ commitment and ensure client satisfaction and our final
                         results. We feel that it is a must-have in the current market conditions and Poznań meets all these
                         requirements.

                                                            Marcin Pawłowski, Tribe Lead Klient Indywidulany, Bank Zachodni WBK

Carlsberg Global Shared Services Center (GSS) was established in Poznań (Poland) in early 2006.
Originally, the center was created to provide accounting services, today our team of more than 350
professionals is responsible for a wide range of services. We are proud of such continuous growth of
our operations in Poznań and the city continues to be the right place to be for us given our heritage,
availability of the talent pool and rapidly developing office market. All that provides a good foundation
for the BSS sector growth resulting in the increased number of the skilled professionals.

                                 Michał Kościanek, WE Operations Director, Carlsberg Global Shared Services

                         GSK exists in Poznań for 20 years now. Since 1998, as GSK factory, and since 2005 also as a Business
                         Service Center, which provides global services for internal clients as well as external partners and
                         customers. With every passing day my observation of Poznań is that it is an extraordinary municipality for
                         business. The city is continually evolving, growing and developing. It continually engages and supports
                         countless CSR initiatives that are parallel to the values of many companies including GSK. Thanks to this,
                         Poznań is not only a fabulous municipality to live in but also for business.

                                                                   Sebastian Drzewiecki, Director of Business Service Network, GSK

Business Garden, project by Vastint

8                                                                                     Poznań - Thriving modern business services hub | 2018
Poznań Thriving modern business services hub 2018 - JLL
Pixel, Garvest, fot. © Przemysław Turlej

MAN Accounting Center has been established in Poznań in 2006 and started with about 30 employees.
At that time there have been only a few Shared Service Centers in Poznań and the sector was not well
known and popular (at first recruitments candidates even thought that they were applying for a position
in our bus production plant). Today, the center is doing good and almost 300 employees provide a range
of services for the MAN Truck&Bus group. Availability of German speakers was one of key drivers to
choose Poznań for our stakeholders (Poznań is well known for that). Also, the city strongly supported our
investment in 2006 but has changed recently into more proactive partner, with high interest in the sector
and potential investors.

                        Maciej Tomaszewski, MAN Accounting Center, Senior Manager, ABSL Poznań Chapter

                         ROCKWOOL’s decision to establish the new centre in Poznań was based on a set of key criteria and
                         Poznań excelled at all of them. These included factors such as maturity of labour market, availability of
                         highly skilled talent, the cultural fit with the company, the general business environment and long-term
                         growth strategy of the city. We are convinced that Poznań was a great choice for us as a new investor
                         entering an already thriving BPO/SSC market. RGBS is a multi-functional captive centre established in
                         September 2016 in Poznań and currently employs 200 experts providing a complex set of services such as
                         Finance, Master Data, Controlling, Internal Audit, Compliance, Taxes, IT, HR and Operations & Technology
                         supportive functions and supporting our group’s strategic projects.

                                                                                   Anna Berczyńska, Director of ROCKWOOL GBSC

Poznań - Thriving modern business services hub | 2018                                                                                      9
Poznań Thriving modern business services hub 2018 - JLL
Recruiting in Poznań
As one of the five largest economic centers in Poland Poznań       The BSS labor market in Poznań thrives and encourages
has built its reputation as the center of entrepreneurship         people from the country and Europe to pay attention
and innovation with an impressive growth of the Business           to the opportunities offered by local employers. Wage and
Services Sector in the recent years. High quality of life,         working conditions have been improving, which reflects
convenient location on the map of Poland and a very positive       current trends in the labor market. According to the latest
assessment in terms of investment conditions were the key          Randstad Employer Brand Research report employees pay
factors contributing to the success of the city.                   the most attention to attractive earnings, stable employment
                                                                   and a friendly atmosphere when choosing the employer.
The city has been also recognized as a significant academic
center, attracting young people from all over the world,           “Easy to learn, easy to work, easy to live and have fun”
who more and more often remain permanently in Poznań.              – that is how Poznań inhabitants say about the city.

Retention & Candidates’ expectations
In the last two to three years there has been a prosperous         previous employer are reasons to change jobs, and to a lesser
labour market for employees. Decreasing unemployment               extent a general willingness due to personal reasons. Based
levels and a growing number of investments in Poland have          on the survey results, every fifth employee has changed an
resulted in optimism among employees on finding new                employer in the last six months.
jobs. At the same time, a significant majority of employees
are not afraid of losing their jobs. The hierarchy of reasons      Talent scarcity has forced employers to compete with each
to change jobs has changed as well. According to 31st edition      other by offering extensive non-monetary benefit packages,
of Randstad Workmonitor offering more attractive salary and        and employees carefully watch this trend, expecting that
benefits play a key role in successfully hiring candidates. Less   potential employers will seek to differentiate their offerings
important is career development. Employees indicate a more         from their competitors’.
favorable form of employment and dissatisfaction with the

Expanding talent pool
General talent scarcity in the labor market force companies to look for talent outside of Poland. In March 2018 alone, there
has been 17,130 work applications to hire foreigners registered in labor offices across the wielkopolska region, according to
Voivodship Labour Office in Poznań. The most common nationality has been Ukrainian (94% of all applications), followed by
Belarussians (3%) and Moldovians (2%). More than 2 out of 5 (41.3%) of all applications were registered in Poznań city.

                                  Foreigners employed by job profile in March 2018
                                  5,255 production workers & craftmen
                                  2,767 machine operators and assembly workers
                                    661 sales and customer service
                                    407 white-collar staff
                                    178 technicians and lower management
                                    160 farmers, gardeners, foresters and fishermen
                                     39 specialists
                                     17 without any qualifications
                                       8 public sector workers, middle & top management

Companies representing the outsourcing industry are very open to hiring foreigners, and only the length of the work permit
process limits them from doing it more extensively.

10                                                                                  Poznań - Thriving modern business services hub | 2018
Salaries offered in Poznań (PLN)
Position (years of experience)                min        opt      max      Position (years of experience)    min      opt      max
GL Junior Accountant (1-2)                   4,200       4,800    5,200    Payroll Specialist (1-3)          4,600    5,500    6,300
GL Senior Accountant (3+)                    6,500       7,000    8,000    Senior Payroll Specialist (3+)    6,500    7,300    8,000
GL Team Manager (8+)                        15,000      19,000   22,000    HR Team Leader (5+)               9,000   10,000   12,000
AP/AR Accountant (2-3)                       4,600       5,400    6,000    HR Processes Manager (8+)        13,000   15,000   17,000
Team Leader (5+)                             7,700       9,000   12,000    IT1st Line Support (2)            4,500    5,000    6,000
 Customer Service Junior Specialist (0)      3,500       3,700    4,000    IT 2nd Line Support (2)           5,000    6,500    7,000
 Customer Service Specialist (1+)            4,200       4,500    5,000    IT 3rd Line Support (2)           7,000    8,000    9,000
 Team Manager (6+)                           8,200      10,000   11,000    IT Administration (3)             6,000    7,000   10,000
 Procurement Junior Specialist (0-1)         3,800       4,200    4,900    Network/Security (3)              7,300    9,000   12,000
 Procurement Specialist (1-3)                5,000       5,500    6,700    Business/System Analyst (3)       7,500    9,000   11,500
 Procurement Team Leader (5+)                8,000      11,000   13,000    Developer (3)                     8,000   11,000   15,000
 Procurement Manager (8+)                   13,500      16,000   20,000    Tester (3)                        7,000   10,000   15,000
 HR Junior Specialist (0-1)                  3,800       4,300    4,500    IT Team Leader (5+)              10,000   13,000   16,000
 HR Senior Specialist (2+)                   5,500       6,000    6,600    Project Manager (5+)             13,500   16,900   22,000

                                                            Number of open positions
              Ease of finding talent                       10          20          50
           F&A: Accounting
           F&A: Planning / controlling / reporting
           Banking: Fund Accounting
           Customer Service
           HR: Payroll
           HR: Admin & reporting
           Procurement
           IT: service desk
           IT: software dev
           IT: infrastructure management

           Ease of finding talent (within 3 months)       easy       medium   challenging

Poznań - Thriving modern business services hub | 2018                                                                                11
Mateusz Polkowski
Head of Research & Consultancy
JLL
+48 22 167 0000
                                                                                                                Contacts
mateusz.polkowski@eu.jll.com

Karol Patynowski
Director of Regional Markets
JLL
+48 22 167 0000
karol.patynowski@eu.jll.com

Katja Lozina
Head of Investor Relations Department
City of Poznan
+48 61 878 5428
katloz@um.poznan.pl

Edyta Janas
Business Development Director
Randstad Sourceright EMEA
+48 501 239 340
edyta.janas@randstadsourceright.pl

© 2018 Jones Lang LaSalle IP, Inc. All rights reserved. The information contained in this document is proprietary to JLL and shall be used solely for the purposes
of evaluating this proposal. All such documentation and information remains the property of JLL and shall be kept confidential. Reproduction of any part of this
document is authorized only to the extent necessary for its evaluation. It is not to be shown to any third party without the prior written authorization of JLL.
All information contained herein is from sources deemed reliable; however, no representation or warranty is made as to the accuracy thereof.
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