Poland’s was ranked third among the fastest expanding retail markets in Europe over the first three months of the year, according to CBRE, with 140,000 sqm of new retail space delivered to the country.
According to CBRE’s Shopping Centre Stock in Europe report, 51 shopping centers opened their doors across Europe in the first half of the year, totaling 1.5 million sqm, with another 3 million sqm expected to be completed in the next six months of the year. The agency estimates there’s a total of 4.4 million sqm of new retail space planned for Poland in 2012, up 25 percent compared to last year.
“Further expansion of retail store networks will follow, although the new developments do not necessarily address the lack of prime units in major city centers – the retailers’ most desired locations. Looking at Poland, while we observe a lot of activity in shopping center development across the country, this is mainly in the regional cities, where quality space is already available, and in the smaller towns, aspiring for their first modern retail schemes,” said Mike Atwell, Head of CEE Capital Markets.
