Poland's retail property market grows by 460,600 sqm in 2016 – report
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A total of 460,600 sqm of retail space was developed in Poland last year, which brought the existing modern retail stock in the country to almost 14 million sqm, according to the latest report by Cushman & Wakefield. In 2016, 22 new retail projects – including 15 shopping centers, the largest of which were Posnania in Poznań (99,000 sqm) and Galeria Metropolia in Gdańsk (34,000 sqm) – were completed in the Polish market. A combined 74,000 sqm of leasable space was developed due to the extension and modernization of 13 of the existing shopping centers. At the moment, around 650,000 sqm of retail space is under construction in Poland, of which 86 percent (560,000 sqm) is scheduled for completion this year. “The opening of Warsaw’s Galeria Północna, the first large-scale shopping center to be delivered in the capital city in ten years, will be this year’s highlight on the Polish retail market,” said Renata Kusznierska, partner, head of the retail agency, at Cushman & Wakefield.
