The importance of small shopping centers and retail parks in CEE-16 grows

Discount retailers predicted to find the Central and Eastern Europe (CEE) market very attractive as evidence shows shoppers have favored the “value for money” approach these retailers provide, as reveals a new report by Colliers

“Despite the ongoing pandemic, a positive bounce in GDP has been seen. Yet the combination of the growth in inflation, and problems relating to the global supply chain, which add to the growing cost of products and resources, all contribute to the challenges faced by producers, retailers and ultimately, this passes on to the consumer,” Kevin Turpin, Regional Director of Research, CEE at Colliers explained.

Several developers are investing in this market segment, such as Immofinanz, Saller, EDS RP, Trei Real Estate, and Fidurock. The appetite from developers, investors, and retailers for this type of asset can be considered strong. The stage of development of this market segment varies across CEE countries, but the segment of retail parks shows great potential for development. 

“The pandemic made customers more willing to visit facilities located close to their home. This is mainly due to time savings and the willingness to efficiently meet basic needs,” Katarzyna Kamińska-Nobis, Associate Director, Retail Agency, Colliers in Poland, said.

However, the growing interest in the location of stores within traditional shopping centers can be seen as well.

(WBJ)