Increase in modern retail space in H1 2009

2009-09-28



In the first half of 2009 there was an increase in the delivery of modern retail space in Poland by 95% to 390,000 m² in comparison with the equivalent period of 2008, according to a recent report prepared by Cushman & Wakefield. The substantial supply reflected the delivery of delayed projects from the previous year. At the end of the first half of 2009 modern retail space in Poland came to 8.83 million m². The most extensive projects completed between January and June 2009 include Galeria Malta in Poznan, Cuprum Arena in Lubin and Renoma in Wroclaw.
Around one million m² of modern retail space was being built in June 2009 and is expected to be completed in the years 2009-2010. Around 66% of the projects were being built in small and medium-sized towns, such as Focus in Piotrkow Trybunalski and Galeria Jurajska in Czestochowa. Nevertheless, the construction of 280,000 m² of space was suspended as a result of the global financial crisis.