Poland third in CEE in planned shopping malls

Poland is the third country in the CEE region, after Russia and Turkey, in terms of shopping center space planned to be delivered between H2 2014 and 2015, according to a report by advisory Cushman & Wakefield. As much as 540,000 sqm of space will be added to the Polish retail market within shopping centers in that period. With 4.57 million sqm, Russia has the largest shopping mall space planned in CEE, followed by Turkey with 2.24 million sqm. Poland now has 850,000 sqm of retail space under construction, 150,000 sqm of which is scheduled to be delivered by the end of the year. Over the entire 2014, 470,000 sqm of retail space should be added to the Polish market, 24 percent below last year's record volume. Most of the space is built in cities with population below 100,o00 (53 percent). "By comparison, in 2013, as much as 67 percent was delivered in the eight largest agglomerations," said Magdalena Sadal, senior analyst at Cushman & Wakefield. At the end of Q3 2014, Poland had 432 retail schemes, with a total GLA of 158,275 sqm, including 385 shopping centers, 37 retail parks  and 10 outlet centers (two more are under construction). In Q1-Q3 2014, 317,500 sqm of GLA was added to the market, within 14 new centers and three extensions, 42 percent more than in the corresponding period of 2013. Atrium Felicity in Lublin was the largest shopping mall recently delivered recently (75,000 sqm), followed by Galeria Warmińska in Olsztyn (41,000 sqm).