Warsaw with more retail space

There were 1.62 million sqm of retail space, including 1.11 million sqm in the shopping centres, in Warsaw at the end of 2014, according to a recent report by real estate consultancy JLL. With 36 operation shopping centers, the region features one of the lowest shopping center density amongst the largest Polish cities - 437 sqm per 1,000 residents. In Q4, 2014 the development process continued on projects undertaken in the suburban areas: Ferio Wawer (12,500 sq m), the first modern shopping centre in the Wawer district, Fabryka Wołomin (30,600 sq m), and Galeria Legionowo (10,500 sq m) in Legionowo. In addition, three other schemes are currently in the development/re-development stage including Hala Koszyki, a mixed-use project designed to combine a shopping gallery (7,500 sq m) and an office component (approx. 13,000 sq m), an extension to Wola Park (17,600 sq m) and an extension to the Factory Ursus outlet centre  (6,000 sq m). Construction works on one new project, MODO domy mody (formerly Centrum Łopuszańska - 16,000 sq m) commenced in Q4. If there are no delays, all these projects will be delivered in 2015. Some other large schemes that are at a very advanced stage of preparation and development can start later in 2015 or early in 2016. At the end of Q4 2014, rents ranged between €90 and €105 per sqm, with upward pressure on rents in the best trading assets.