In Poland, 35 new commercial facilities were created, and another 14 were expanded or modernized in 2023, and their total commercial area amounted to over 424 thousand m2 of GLA, including 149 thousand m2 of GLA, which was awarded in the first half of the year, and another 275 thousand m2 of GLA in the second half of 2023, according to data collected by the Polish Council of Shopping. The total area of Polish retail facilities at the end of 2023 exceeded 13.38 million m2 of GLA.
In 2023, both the dynamics of new investments and the expansion and modernization of existing commercial facilities were clearly increased. This resulted in an increase in the newly delivered retail space, compared to 2022, which is an additional amount of nearly 100,000 m2 of GLA. These data are confirmed by previous analyses of the Polish Council of Shopping Centres on commercial facilities in the preparation and construction, which show that the Polish market still has a large investment potential, estimated at 1.2 million m2 of new GLA space by the end of 2025,” said the Managing Director of PRCH Krzysztof Poznański.
The largest number of new commercial facilities in 2023 was built in Wielkopolska, where 7 of them were opened. After 3 new facilities were put into use in 7 voivodships. The most active investors were Trei Real Estate Poland and LCP Properties, which launched 3 new retail parks. In turn, the largest new investments launched in 2023 were Galeria Bawełnianka in Bełatów and the Shopping Park Elbląg and the Biała Podlaska Carousel. The investments were dominated by retail parks, which together account for 83% of the new retail space, it was reported.
PRCH also pointed out that the commercial facilities were also expanded and modernized. For example, the Fort Wola shopping center was reopened in Warsaw, and the Atrium Promenada gallery was comprehensively modernized. On the other hand, in Jelenia Góra, the former Tesco facility has been rebuilt, where the E.Leclerc shopping center currently operates.
In the structure of modern retail space in Poland, the largest, 81% share is in shopping centres, another 17% is allocated to retail parks and 2% per outlets. The saturation of the country with modern retail space is becoming more and more uniform. Slightly more than half of the modern retail space is located in the 8 largest agglomerations, the rest are concentrated in centers from less than 100,000 to 400,000 residents.
Source: PRCH and ISBnews
Photo: M Park Świdnik, LCP Properties
