Nearly 1 million sqm to be added to major cities’ retail markets

After a few years of increased activity in small and medium-sized cities, developers are once again focusing on major agglomerations, where they will build 980,000 sqm of GLA by 2017, according to a recent report by Colliers International. The largest amount of space will be delivered to the Warsaw market, where no new major scheme has been delivered in the past seven years. The capital has 1.4 million sqm within 43 schemes. “Within the next three years, the deficit in good quality space for lease will be satisfied by new retail investments totaling 400,000 sqm GLA,” said Marta Machus-Burek, director, Retail Strategies & Development Advisory Services in Colliers International.