PropertyEU
Poland in top 3 for retail supply in Europe
Date: 10 October 2011
Category: Research
Poland is among the top three European countries in terms of future retail development, according to research by Jones Lang LaSalle. Nearly 670,000 m2 is currently being developed in Poland with delivery scheduled for 2011 to 2013.

This puts Poland third behind Russia and Turkey for retail development, the report found.

Nearly 220,000 sq m will be delivered to the market by end of 2013 in Silesia and Rzeszów alone reflecting the buoyant nature of retail development in Poland, according to JLL's Retail Market Update Q3 2011.

Retail stock in Poland will grow by 550,000 m2 in over the whole of 2011. A similar level of shopping centre completions is expected in 2012 and 2013.

In-town locations are a characteristic feature of future projects: 65% of the currently constructed centres are downtown or in the close vicinity of central areas.

Nearly 60% of construction activity (in terms of pipeline stock) is taking place in cities with fewer than 200,000 inhabitants. This includes 20 new projects and six extensions.

Silesia and Rzeszow are country leaders in terms of pipeline retail provision. By 2013, 115,000 m2 of new retail space will be delivered to the Silesian market via four projects, mainly in Katowice; a further 104,000 m2 will come to the market in Rzeszów in two large projects and one extension.

Edyta Potera, associate director at JLL's retail agency, commented: 'Polish retail markets are maturing and it is increasingly more difficult to identify cities with a clear undersupply of retail space. This is a good message for retailers, who have greater choice of retail accommodation both in emerging smaller towns and in the major Polish cities, which are gaining such prime, high-quality projects as, for example, Nova Park shopping centre by Caelum Development in Gorzów Wielkopolski or Galeria Wilanów by Polnord and GTC in Warsaw.'
 
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