EPP CEO: the biggest opportunities are in Poland

Hadley Dean, the CEO of real estate investor EPP, said in an interview with CNBC Africa it is in Poland that he sees the biggest shopping center investment opportunities. “70% of retail in Poland takes place in shopping malls, which is a very rare case. Over the next 10 years, we will see the middle class, which is currently being built in Poland, start spending as much money as residents of Western Europe,” Dean explained.

Even the Sunday trade ban did not harm the company since sales in EPP malls increased by 6%. Moreover, according to Dean, Polish retail will not be negatively impacted by Brexit. “Brexit will be beneficial for Poland, which is already the 6th largest economy in Europe. After Brexit, France and Germany will need a third economy for balance. In addition, no one will move their mid-office and back-office from London to Frankfurt or Paris; these jobs will be offered in Poland,” he concluded.

EPP is the largest owner of shopping centers in Poland. Its portfolio includes 19 retail projects (e.g. M1 shopping centers and Galeria Młociny in Warsaw), six office buildings and two mixed-use facilities.

(CNBC)