9:31 21 July 2021
New retail supply could reach 540,000 sqm in 2021
Total new retail supply in Poland could reach 540,000 sqm, returning to pre-pandemic performance, according to JLL forecasts. As indicated, H1 2021 was characterized by increased construction activity compared to the same period of 2020.
"In the first half of 2021, developers completed 242,000 sqm of GLA across all formats, with another 447,000 sqm under construction. Our analysis suggests that by the end of 2021, the new supply could total around 540,000 sqm. This is a similar result to that of 2019, i.e. before the pandemic. 40% of newly delivered space will be retail parks," said Joanna Tomczyk, senior market analyst at JLL, quoted in the release.
The trend of localism and convenient and fast shopping continues. Retail parks and daily shopping centers accounted for 43% of the supply delivered in the first half of the year. As a result of the reshuffling of hypermarket operators, 47% of new space was delivered within free-standing retail warehouses, the statement also said.
The remaining 10% of new space was completed in shopping centers. In Q2 2021, the first malls of the year opened: Galeria Sekunda in Jędrzejów (13,000 sqm GLA) and Galeria Odyseja in Brzesko (9,300 sqm GLA), the material mentioned.
