According to Cushman & Wakefield report, total shopping centre floorspace in Europe is estimated at 161.4 million sqm at the end of 2014 with noted increase of 4.5% year-on-year. In Western Europe accounts for 65% of total built GLA, development activity in Central and Eastern Europe reached 1.4 million sqm in HI 2014, over double the 637,000 sqm added to the Western European market. Russia and Turkey alone accounted for 1.1. million sqm of added space in HI, as developers aim to catch-up with the Western European market, focusing on larger centres that serve a wide catchment area.
