Five new shopping centers should be opened in the Czech Republic by the end of 2016, according to Cushman & Wakefield. In addition to Nová Palmovka, a mixed-use facility with a 5,000 sqm retail component, and the 35,000 sqm extension of Centrum Chodov, there are new projects in the works in Hradec Kralové (Aupark – 23,000 sqm), Jablonec nad Nisou (Central – 11,270 sqm) and Přerov (Prior – 13,732 sqm).
“The demand amongst investors who are willing to pay premium prices for best performing and established shopping centres, will spur developers to accelerate future projects,” says Jonathan Hallett, Managing Partner at Cushman & Wakefield Czech Republic. “Accordingly, we expect the development of new shopping centres, as well as the refurbishment or remodelling of existing projects to start as early as in 2016.” A total of 85,000 sqm is expected to come on line in the Czech Republic between the second half of 2015 and the end of 2016.
