Retail development slowed down in 2014 to a level not seen since the late 1990s, according to DTZ, adding that the trend is likely to continue this year. Developers will keep busy with redesigns and remodelings of existing shopping centers and planning new outlet centers, while e-shops will continue to strengthen their market share, write DTZ in its recent market report. The Czech market is nearing saturation with 319 sqm of retail space per 1,000 inhabitants. A mere 80,300 sqm of new projects were completed last year. The pipeline is not much different for 2015. DTZ is predicting an additional 83,000 sqm will come on-line this year, with one-third delivered in outlet centers like The Prague Outlet and Bohemia Outlet Village. Central Kladno by Crestyl with 26,000 sqm of retail space will be the only large retail project completed this year.
