Wrocław continues to attract shopping mall investments

Despite retail space saturation and a growing vacancy rate, Wrocław remains an enticing location for developers, according to analysts at Colliers International. Currently, the city has 18 shopping centers with a total GLA of 654,000 sqm, which results in saturation on the order of 821 sqm per 1,000 inhabitants. Therefore, one mall serves 43,890 people. The vacancy rate grew to 3 percent in June from 1.6 percent at the end of 2015. “Wrocław remains a focus of interest for investors and tenants, who appreciate the long-term development prospects of this city. After a period of expansion of well-established commercial complexes (Aleja Bielany, Magnolia Park), Wrocław is expecting the opening of the Wroclavia shopping center,” said Katarzyna Michnikowska, senior analyst at the Department of Consultancy and Market Research at Colliers International. Aleja Bielany, with a GLA of 131,000 sqm and around 200 stores, and Magnolia Park, with a GLA of 99,000 sqm and over 230 stores, are the city two’s biggest shopping malls.