In 2021, there was an increased development activity in the retail sector, according to Colliers data, almost 400,000 sqm was under construction at the end of Q3, which will translate into a significant increase in annual supply from 265,000 sqm in 2020, up to 350-400,000 sqm in 2021.
"In Q3 2021, 59,700 sqm was delivered for use. Thus, the total stock of retail space in Poland exceeded 12.2 million sqm. The vast majority of investments in recent months and those under construction are small parks and shopping centers in cities below 100,000 inhabitants. Investors noticed that during a pandemic it is precisely these types of facilities that perform best and there is the greatest demand for them. The fact that small and medium-sized cities are characterized by low saturation of retail space and greater availability of land, often at more attractive prices, also plays an important role," Katarzyna Michnikowska, Associate Director in the Advisory and Market Research Department at Colliers, said.
In Warsaw, the most important events on the retail market include the commissioning of the Norblin Factory. The "mixed-use" facility, built on the basis of two-hectare former factory buildings, will ultimately offer 40,000 sqm of office space and 26,000 sqm of commercial and service area.