Commercial Hall
Agenda - Commercial Hall
DAY 1, Thursday, 11 June
8:45-9:45 registration
JOINT SESSION FOR ALL CONFERENCE PARTICIPANTS – RESIDENTIAL HALL:
9:45-10:00 OPENING OF THE CONFERENCE
10:00-10:30 The World at a Crossroads: Development Scenarios for Poland, Europe and the World.
OPENING LECTURE
SPECIAL GUEST OF FRN 2026
Dr Marcin Piątkowski, Professor at Kozminski University, Lead Economist in the Department of Finance, Competitiveness and Innovation (DFKI) at the World Bank
10:30-11:30 From sectors to strategies: does fragmentation strengthen or disrupt the real estate market?
Introduction
In 2006, eight asset types were enough to describe the real estate market. Twenty years later, thirty categories are insufficient.
Panel discussion
The increasing fragmentation of the real estate market is changing both asset classifications and investment decision-making, project financing and risk management. In a world where sectors are no longer a sufficient benchmark, a key question arises: does the market benefit from this complexity, or does it lose liquidity and comparability?
- How are the markets of Western Europe, Poland and the CEE region responding to this process?
- Under conditions of varying scale and maturity, does fragmentation strengthen market resilience or lead to a loss of liquidity and benchmarks?
INTRODUCTION AND MODERATION OF DISCUSSION:
Anna Szelc, senior director, Investment, CEE, Invesco Real Estate, członkini Executive Committee ULI Poland
PANELISTS:
Mateusz Bonca, CEO Poland, JLL
Karol Dzięcioł, Member of the Management Board, Develia
Paweł Toński, President of the Board of the PINK, Partner at CRIDO
Jacek Zengteler, CEO, Yareal Polska
11:30-11:50 coffee break
PROGRAMME IN THE COMMERCIAL HALL:
11:50-12:50 Core will return… or perhaps it no longer needs to?
Panel discussion
The capital structure of the Polish real estate market has changed significantly. Reduced activity from core funds has coincided with the growing role of private capital, family offices and investors undergoing wealth succession processes.
- Is the current prominence of private capital a lasting feature of the market, or merely a transitional phase until institutional investors return?
- How is this shift affecting valuations, investment strategies and the market structure in Poland and the CEE region?
MODERATOR:
Tomasz Szpyt, Editor-in-Chief, Property Insider
PANELISTS:
Sayed Alaali, Managing Director, Slate Asset Management
Marta Rayss, Head of Alternative Funds Management Department, IPOPEMA
Sean Doyle, Director of Capital Markets, Central and Eastern Europe, CBRE
Szymon Ostrowski, Managing Director – Deputy CIO, PFR TFI
Renata Grzonkowska, Property Department Corporate Clients Director, Erste Bank Polska SA
Bartłomiej Kordeczka, Co-Managing Partner, Pinsent Masons law firm
12:50-13:00 Horizontal Estates: Two Waters Land Bank as a Long-Term Investment Platform
Lecture
The potential of the Two Waters Land Bank – over 200 hectares of land between the Baltic Sea and Lake Jamno – as an example of a long-term investment platform. The scale of the project, a single ownership structure, and the opportunities for phased development of a year-round destination on the Baltic coast.
SPEAKER
Cezary Kulesza, Member of the Management Board, Horizontal Estates
13:00-13:40 Dual use – designing assets for change of use. Flexibility or an illusion
of resilience?
Panel discussion
In an increasingly complex market environment, dual use may offer a way to enhance asset resilience by enabling functional change over time. However, does structural and operational flexibility actually increase project value, or does it raise costs and complicate financing?
- The limits of multi-functionality.
- The economics of designing for future conversion.
- Who ultimately bears the risk of such decisions?
- Does designing dual-use assets — with both civilian and defence applications — unlock new, sustainable sources of funding (public, quasi-public or preferential),
or does it remain a niche direction available mainly to large players? What are
the barriers to entry, and is this strategy economically viable for SMEs?
MODERATOR:
Jakub Kompa, Co-founder and Partner, UrbanKGK
PANELISTS:
Tomek Ogrodzki, PropTech expert, CEO and Co-founder, Redd Group
Piotr Kamiński, Member of the Management Board, Head of Office Leasing, JLL
Aleksander Kłak, Founder and Chairman of the Presidium, Izba Dualuse
Michał Obara, Managing Director, Student Depot, Kajima
Łukasz Ciesielski, Managing Director, STRABAG Real Estate
13:40-13:50 How Architecture and Technology Enhance Building Attractiveness, Support Commercialization, and Increase Real Estate Value
Lecture
The way buildings look and interact with their surroundings is undergoing a fundamental transformation. Through the integration of natural materials with invisible, embedded technologies, architecture is becoming more dynamic and adaptable. Solutions developed by the Maasck team enhance the attractiveness of real estate assets, support commercialization efforts, increase their value, and strengthen competitive advantage in the market.
SPEAKER:
Cezary Kulesza, Member of the Management Board, Horizontal Estates
13:50-14:15 Data centres – global fever, Polish realities.
Lecture
The data centre market is one of the fastest-growing real estate segments globally, driven by the growth of cloud computing, artificial intelligence and the digitalisation of the economy. However, the scale of investment depends not only on technological demand but primarily on energy availability, grid connection capacity, regulatory stability and long-term infrastructure policy.
- How does Poland compare to major European markets, and what real constraints and advantages determine the pace of data centre development?
- Does Poland have the potential to become a regional digital hub, or will systemic factors limit its growth?
- What is the importance of enabling data centre development and operation in Poland for national security? How have other countries approached this issue and how does Poland position itself in comparison?
PRELEGENT:
Krystian Pypłacz, data center market expert, PLDCA Polish Data Ceter Association
14:15-15:00 lunch
15:00-15:50 Offices – multi-speed markets.
Panel discussion
The Polish office market is increasingly operating across multiple parallel trajectories. The situation is different in Warsaw and Kraków compared to regional cities; prospects vary between new, high-quality developments and older stock requiring refurbishment or repositioning. Declining new supply and selective demand mean that some parts of the market are entering a phase of shortage, while other segments face structural pressure.
- Where is demand currently concentrated, which offices are benefiting from current market conditions, and which are losing competitiveness?
- What are the implications for owners, developers and investors?
MODERATOR:
Tomasz Cudowski, Editor-in-Chief, Estate FM
PANELISTS:
Przemysław Ryś, CEO, Torus
Mariola Bitner, Partner | Strategic Advisory Lead, Brookfield Partners
Agnieszka Krawczyk-Rogowska, Leasing & Asset Director, Skanska
Paweł Sobolewski, Managing Director, Kingston
15:50-16:35 The warehouse market in an era of economic security.
PANEL DISCUSSION
Nearshoring and friendshoring are reshaping supply chains, while geopolitical tensions are increasing the importance of assets linked to security and systemic resilience, from data centres to warehouses with civil-defence functions. As a result, parts of the logistics market may gradually take on an infrastructural character.
• Does this signal a lasting shift in the structure of the warehouse market in Poland?
• What are the realistic financing options for such projects and which players –institutional platforms, infrastructure investors or specialised developers – have the potential to deliver them effectively?
MODERATOR:
Tomasz Mika, Head of Industrial Agency, JLL
PANELISTS:
Paweł Sapek, Senior Vice President, Regional Head CE & Country Manager, Prologis
Jan Kaliński, Senior Business Development Director, Hillwood
Daniel Puchalski, Managing Partner, Immo Lab
Michał Dżoga, CEO & Co-founder, BearLake Group
JOINT SESSION – TOPICS COMMON TO ALL PARTICIPANTS – RESIDENTIAL HALL:
16:40-17:00 Collaboration is key.
Lecture
Building land forms the basis for the development of affordable housing in Poland. It is also where the greatest potential lies for cooperation between the public sector, which owns attractive properties, and the private sector, which knows how to develop them effectively. In this presentation, we will outline specific areas of cooperation with the National Property Stock where optimal synergy can be created between the private and public sectors...
SPEAKER:
Dr hab. Adam Czerniak, Deputy President of the National Real Estate Stock (Krajowy Zasób Nieruchomości), Professor at SGH Warsaw School of Economics
17:00-17:45 Land – an asset that lost its innocence long ago.
Panel discussion
The land market is increasingly shaped by more than simple calculations of location and price. Although land formally has an owner, real control over its use is shared between the owner, local government, the administration, the regulator and the market. A plot’s value is determined by planning, timing and regulatory risks, as well as the pace and direction of infrastructure development, which can rapidly shift the centre of gravity of entire investment areas. Intermodal hubs, new transport corridors and systemic-scale projects, such as the Central Communication Port (CPK), are changing not only the attractiveness of locations but also investment horizons and valuation methods.
- Who in practice decides the fate of investment land?
- How is the role of cities and investors changing, and what does this mean for the pace and structure of new projects?
- How do investors, cities and landowners manage risk?
MODERATOR:
Emil Domeracki, Partner, Walter Herz
PANELLISTS:
Jarosław Bator, CEO, NDI Development
Piotr Brzózka, Counsel, Osborne Clarke
Marek Wróbel, Director, Municipal Urban Planning Office in Poznań (Miejska Pracownia Urbanistyczna w Poznaniu)
21:00-01:00 Banquet at the White Marlin restaurant (1 Wojska Polskiego Avenue)
DAY 2, Friday, 12 June
10:00-11:00 second breakfast at the JLL Business Hub
JOINT SESSION FOR ALL CONFERENCE PARTICIPANTS – RESIDENTIAL HALL:
11:00-11:40 Competencies for challenging times.
Panel discussion
In real estate projects, failure can occur at the financing stage, but also when coordinating decisions, managing tensions and maintaining the project’s core purpose over time. The scale of capital and pace of delivery are no longer enough where projects span years, involve numerous stakeholders and operate in a shifting regulatory, market and social environment.
We will discuss competencies and skills which are rarely visible in financial models, but often determine value durability and adaptability and help avoid decisions that later must be reversed.
MODERATOR:
Katarzyna Chwalbińska-Kusek, Partner, Head of ESG Advisory Baker Tilly TPA
PANELLISTS:
Renata Osiecka, MRICS, SIOR, Owner and Managing Partner, Axi Immo
Ewa Andrzejewska, Member of the Management Board and Chief Operating Officer, PINK
Joanna Kozarzewska, Senior Partner, Wyser
PROGRAMME IN THE COMMERCIAL HALL:
11:50-12:35 Warehousing: maturity or market fatigue?
Panel discussion
The Polish warehouse market is approaching 40 million sq m, but its dynamics are clearly changing. A higher share of lease renegotiations, reduced speculative development and capital selectivity suggest that the phase of straightforward volume growth is coming to an end. At the same time, the market is splitting into different paths: energy-dependent infrastructure assets, manufacturing and nearshoring projects, urban logistics and traditional regional parks with differing underlying economics.
- Is this a natural phase of maturation, or a sign of structural constraints?
- At this scale, can we still speak of a single, unified warehouse market?
MODERATOR:
Michał Rafałowicz, Regional Director, Newmark Poland
PANELLISTS:
Michał Samborski, Regional Managing Director & Head of development Pomerania, Warsaw, Subcarpathian
Lesser Poland, Panattoni
Renata Nowacka, Leasing Manager, Accolade
Kamil Szabłowski, Senior Leasing Manager, 7R
Andrzej Potyra, Head of Żabka Property Fund
12:40-13:30 Technology as the cost of entry.
Panel discussion
In commercial real estate, technology is no longer an add-on – it has become a part of the project’s core infrastructure. It is less often a source of competitive advantage and more typically a prerequisite for market access, as required by tenants, lenders or regulators. At the same time, the line between solutions that genuinely improve operational efficiency and property value and those that merely increase project cost and complexity is becoming less clear.
- Where does technology genuinely reshape asset economics, and where does it become an obligation without a clear return?
- Technology decisions from the perspective of owners, investors and users.
- Who ultimately bears the cost of implementation, and who truly reaps the value?
MODERATOR:
Tomek Bojęć, Managing Partner, ThinkCo
PANELLISTS:
Michał Chodkowski, head of property management, Adgar Poland
Maciej Grabowski, Founder, BlueBolt
Anna Tryfon-Bojarska, Innovation Manager, Skanska
Anna Bartoszewicz-Wnuk, head of Central and Eastern Europe, Singu
13:30-13:45 brunch
13:45-14:30 Seniors in the professional real estate market – genuine participants or unfulfilled hope?
Panel discussion
- Does the senior housing segment have a solid basis for growth? Does the housing and financial condition of today’s seniors and those over a 10-year horizon justify investment in this market segment? Are existing business models already delivering returns, or is this primarily an investment in the future?
- Have lessons been learned from systemic failures such as reverse mortgages or assisted living schemes for affluent seniors?
- How can housing stock be better aligned with the actual needs of seniors? Urban seniors vs. those in smaller towns and rural areas.
- Does today’s housing market think about old age? Developments adapted to the family life cycle and ageing processes. Programming services within senior housing projects.
14:30-14:40 Real estate in the turnkey revolution - new standards, new opportunities.
Lecture
Turnkey fit-out is no longer an extra - it's an expected standard. How can developers turn this shift into a competitive advantage and real added value for their clients.
SPEAKER:
Mateusz Komorowski, head of business relationships, Gotowe Mieszkanie
14:40-15:20 Living – different paths to value.
Panel discussion
The living segment encompasses various institutional rental formats, but each operates with a different relationship to capital, operations and the exit market. Alongside stable tenant demand, investment strategies are becoming increasingly diversified. Some projects target the retail market, while others find buyers among large investment platforms.
- In the current market cycle, does living function as a long-term asset class based on institutional financing, or rather as a set of flexible strategies where exit and capital rotation play a central role?
- Which exit models are actually effective, what costs and risks do they generate, and why is there no single, universal path to value creation in the living segment?
MODERATOR:
Michał Poręcki, real estate market expert, consulting manager, Havas PR
PANELLISTS:
Jolanta Niezgodzka, Deputy to the Sejm
Elżbieta Chmiel, member of the management board, PFR Nieruchomości
Maciej Piotrowicz, head of Poland, Urban Partners
Patrick Pospiech, director, Living Investments, JLL
Bartłomiej Wentlandt, managing director, CAVARE
15:20 lunch
the organiser reserves the right to make changes to the programme.