Approximately 600,000 sqm of new retail space is currently under construction in Poland with around 70 percent of that area scheduled to be completed this year, according to a recent report by Cresa. Major projects expected to open in 2018 include Forum Gdańsk (62,000 sqm), Galeria Libero in Katowice (45,000 sqm) and Gemini Park Tychy (36,000 sqm).
In 2017, a total of 426,000 sqm of new retail space was completed in the Polish market, which marks a nine-percent decrease upon the year 2016. The 2017 figure is as much as 25 percent lower than the average annual supply of new retail space in Poland in the previous five years, the Cresa study said.
“The gradual supply slowdown, coupled with the rapidly rising retail sales, is a confirmation of the Polish retail market’s steady growth and an increasing focus on floor space quality and customer service improvements, offer expansion and shopping experience,” commented Magdalena Sadal, the head of retail research and advisory at Cresa Poland.