FM newsroom – office market. The landmark Olivia Star skyscraper in Gdańsk has attracted the interest of Strabag Group, signalling a potentially significant move within Poland’s regional office market. Despite broader market challenges, this standout asset continues to thrive — and intrigue investors.
Strabag Group’s subsidiary, Bau Holding Beteiligungs GmbH, has filed a motion with Poland’s Office of Competition and Consumer Protection (UOKiK) to acquire Olivia Star, the sixth of seven buildings in the Olivia Centre business complex on Grunwaldzka Street.
From The Jungle to The Stars of Gdańsk’s Business Skyline
Standing 180 metres tall, with 35 floors and 44,000 sqm of office space, Olivia Star is not only the flagship of the complex but also the tallest office building in Poland outside Warsaw. Its iconic stature, combined with a vibrant mix of commercial and leisure functions, makes it a unique asset in the country’s office market.
The tower is home to an extensive three-floor conference, dining, and visitor complex offering over 4,000 sq m of space and capacity for 900 guests. Visitors and tenants alike are welcomed on the ground floor by Olivia Garden, a vast indoor tropical garden that has become one of the building’s signature attractions.
“We say this is a building stretching from the jungle to the stars because on the ground floor, our guests are greeted by a vast tropical garden – Olivia Garden – a place for our community to meet, relax, and network. There’s no other location like it in Europe,” Maciej Kotarski, director of the Olivia Centre, tells Property News.
Importantly, only Olivia Star is the subject of discussions with the investor; the remaining buildings will stay under current ownership. Regardless of the outcome, the skyscraper will continue to serve as the heart of Olivia Centre, with existing management, community services, and commercialisation teams remaining unchanged.
A Rare Beacon in a Challenging Office Market
The potential sale of Olivia Star comes at a time when the regional office market faces strong headwinds, marked by high vacancy rates and cautious development activity.
Kotarski notes that the situation is mixed across Poland. While central Warsaw is experiencing a boom — with vacancy in new towers as low as 4–5% — non-central districts remain under pressure, and regional markets show persistently high vacancy levels.
The Tricity (Gdańsk, Gdynia, and Sopot) market mirrors this trend. Although vacancy across the region remains elevated, Olivia Centre continues to enjoy high — and rising — occupancy, underscoring the distinct appeal of the complex and its flagship tower.
With construction costs high and rents in regional markets relatively low, few developers are launching new office projects. Many unfinished schemes in Gdańsk and the broader Tricity area have already shifted toward residential or PRS conversions.