H1 2010 brings stabilisation on retail space market in Poland

2010-09-09

The market for modern retail space stabilised in the first half of 2010, according to a recent report by Colliers International. As a result of the crisis, many development projects were suspended or halted in 2009, and only 220,000 m² of retail space were, therefore, added in H1 2010. By way of comparison, in H1 2009, developers completed 340,000 m².
After the first six months of 2010, the total amount of retail area came to 7.8 million m², of which 5.13 million m² were located in the eight largest cities in Poland. The most extensive projects completed in H1 2010 included a 67,000 m² Port Lodz shopping gallery in Lodz, a 16,000 m² Tesco in Warsaw, a 21,000 m² Metropol Dom i Wnetrze, also in Warsaw, and Family Point (16,000 m²) in Wroclaw.
In the second half of 2010 developers are planning to complete 250,000 m² of modern retail space, of which 90% will be located in medium-sized towns. The largest complexes due to be completed in H2 2010 are Galeria Victoria in Walbrzych, which will take up 43,000 m², and a 41,500 m² Gemini Jasna Park in Tarnow.
Colliers International emphasises that the supply of modern retail space is expected to grow again in 2012/2013.