Retail centers tenants record 9% revenue growth in April y/y

Tenant revenues in shopping centers increased by 9% in April 2023 compared to April 2022, according to data from the Polish Council of Shopping Centers (PRCH). Turnover growth was observed across all categories of commercial properties, with the largest malls experiencing a 9.4% increase.

The turnover growth rates for selected categories were: services 30%, gastronomy 17.8%, and fashion 10.2%. Additionally, the footfall density index, measuring customer visits per square meter of rental space, was 2.6% higher in April 2023 compared to the previous year. These figures reflect the recovery of shopping centers after pandemic-related restrictions were lifted, resulting in increased customer spending and footfall.

Source: WBJ