576,000 sqm of shopping center space in the pipeline – PRRF

As of the end of H2 2016, there was approximately 576,000 sqm of modern shopping center space under construction, around 68 percent of which is scheduled to be delivered by year-end 2017. The eight largest agglomerations accounted for the largest share in the development pipeline (77 percent), according to a report prepared by the Polish Retail Research Forum (PRRF).

The largest schemes underway are Galeria Młociny (76,000 sqm of GLA) in Warsaw, Wroclavia (64,000 sqm of GLA) in Wrocław, Galeria Północna (64,000 sqm of GLA) in Warsaw, and Forum Gdańsk (62,000 sqm of GLA) in Gdańsk.

After a modest H1 of 2016, 327,000 sqm of leasable space in the second half of the year was added to the total modern stock of shopping centers in Poland. Thirteen new shopping centers were opened in H2 2016, providing a total of 274,000 sq m of leasable space. The biggest openings included: Posnania (99,000 sqm) in Poznań, Galeria Metropolia (34,300 sqm) in Gdańsk, Galeria Navigator (25,400 sqm) in Mielec, and Galeria Wołomin (25,000 sqm) in Wołomin.

As of the end of December 2016, Poland’s total stock of modern shopping centers, including retail parks and outlet centres, reached 11.2 million sqm of GLA across 479 retail schemes. The Warsaw agglomeration (more than 1.5 million sqm of GLA) and the Katowice conurbation (more than 1.1 million sqm of GLA) remain the largest retail markets in Poland.

Among the eight largest retail markets in Poland, the highest retail saturation levels are constantly seen in the Poznań agglomeration (881 sqm per 1,000 inhabitants) and the Wrocław agglomeration (838 sqm per 1,000 inhabitants), while the lowest is in Szczecin (495 sqm per 1,000 inhabitants).

The vacancy rate for the 18 largest retail markets in Poland stood at 3.5percent at year-end 2016. Among the eight largest agglomerations, the highest vacancy rates were in Poznań (5.1 percent) and Wrocław (4.6 percent), while the lowest were in the Warsaw agglomeration (1.9 percent) and the Kraków agglomeration (2.6 percent).

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