Retail market slows down in Q3 2016 - Colliers

No new retail schemes with more than 5,000 sqm has been delivered to the market in Q3 this year, compared to 103,300 sqm last year. At the end of Q3 2016, there was around 640,000 sqm of retail space under construction, with completion planned up to the end of 2017, according to a report by Colliers International summarizing the Polish retail market in Q3 this year. Colliers also reported that the number of new brand debuts was limited, while several retail chains have disappeared from the Polish market, including the Tallinder fashion brand, US gastronomy operator Dairy Queen, and Alma supermarkets. The largest retail scheme currently under construction in Poland is Posnania (around 100,000 sqm GLA), which represents more than a quarter of the total 2016 supply. Other major shopping malls under construction include Wroclavia and Galeria Północna (Warsaw), both with around 60,000 sqm. The average retail vacancy rate in the eight largest urban areas was 3 percent at the end of June 2016.