PRCH: More than 1.2 million sqm of retail space will be developed in Poland by the end of 2025

by   CIJ News iDesk III
2023-09-18   19:16
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More than 1.2 million sqm of GLA of modern retail space is currently in the planning, investment preparation or under construction, with opening dates until the end of 2025, according to data from the Polish Council of Shopping Centers (PRCH). That's more than 9% of the total current base of modern retail facilities in Poland. Within three years, 110 new retail facilities will be built (including 98 retail parks), and 26 existing facilities will be expanded. In total, the investments involve 136 retail parks and centers, mixed-use facilities and outlet centers.

"The Polish Council of Shopping Centers has prepared a database of retail facilities under construction, which includes a very wide cross-section of investments, including very small projects of 2,000 sqm GLA or less. In total, there are 136 retail parks and centers, mixed-use developments and outlets with a start-up date by the end of 2025. Their area covers a total of 1.2 million sqm of GLA, which means that retail space in Poland will increase by more than 9% over the next three years. More than 75% of the planned and under-construction space relates to retail parks, while the remaining approx. 25% is made up of shopping centers and mix-used facilities. At the end of the first half of 2023, the total retail space in Poland exceeded 13 million sqm of GLA," said PRCH Managing Director Krzysztof Poznanski.

By the end of 2023, a total of 25 new retail developments with approximately 186,000 sqm of GLA are planned to open. In 2024, investors plan to open another 48 new projects, with a total area of about 490 thousand sqm GLA. On the other hand, 37 new developments are expected to open in 2025, with a total area of about 344 thousand sqm GLA. The new investments are mainly in very small and small projects of 2 to 20 thousand sqm GLA, it was reported.

By province, investments are dominated by Mazovia, where nearly 22% of new retail space will be built in the next three years. More than 10% will be added in Silesia, and more than 9% in Lower Silesia. The situation is similar in terms of the number of new retail facilities: 22 will be built in Mazovia, 11 will be added in the Silesia and Greater Poland provinces, and 9 facilities will be opened in the Lodz province, according to PRCH

Retail space in Poland exceeded 13 million sqm of GLA at the end of the first half of 2023. In the first half of the year, 12 new facilities were opened, including 1 shopping center and 11 retail parks. By type of retail facilities, shopping centers accounted for 82% of the space, 16% were retail parks and 2% were outlet centers, PRCH reported.

Source: PRCH and ISBnews

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