Retail developers focused on largest, small cities – Colliers
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Retail space developers in Poland are currently mostly focused on two segments of the market – the largest agglomerations and cities with populations of less than 100,000 – with the trend expected to also continue next year, said a recent report by Colliers International. Approximately 400,000 sqm of shopping center space is expected to be completed in the country both this and next year, according to preliminary Colliers data. Posnania in Poznań (100,000 sqm of GLA) has been the largest addition to the existing stock in 2016. Three large shopping centers, offering more than 60,000 sqm of GLA each – Galeria Północna in Warsaw, Wroclavia in Wrocław and Forum Gdańsk in Gdańsk – are scheduled for completion next year. Although shopping centers still dominate in the total supply, the number of new retail parks has been on the rise – such projects will account for approximately one third of all investments this and next year alike. Also the outlet center segment continues to grow, with a new scheme of this kind set to open in Bydgoszcz in 2017. Both this and next year, extensions and modernizations of existing malls will account for as much as 15 percent of the total annual supply volume, the Colliers report said. The Galaxy shopping center in Szczecin, for one, is to grow by 17,000 sqm of GLA in 2017.
