Polish retail market to pick up steam after quiet Q3 – JLL

After modest growth in Q3 – with the extension of Galeria Rynek in Tomaszów Lubelski (7500 sqm) and the opening of a retail park in Radomsko (3,800 sqm) – Q4 is likely to be intensive, with the retail market growing by nearly 276,000 sqm, says Agnieszka Tarajko-Bąk, Senior Consultant at real estate consultancy JLL. According to Tarajko-Bąk, Poznan's Posnania shopping center will be the largest scheme to open in Q4, with 99,000 sqm GLA, followed by projects in the Warsaw region totaling 45,000 sqm. Currently, 663,000 sqm of retail space is under construction across all formats, with shopping centers accounting for nearly 591,000 sqm. Major projects scheduled for delivery in 2017 include Galeria Północna in Warsaw, Wroclavia in Wrocław, and Forum Gdańsk. At the end of Q3 2016, modern retail stock in Poland totaled 13.11 million sqm, with shopping malls accounting for 9.3 million sqm, retail parks and warehouses – 3.59 million sqm, and outlet centers – 0.21 million sqm.