The FINANCIAL -- Development companies operating on the Polish market will open more
large shopping centres than a year before, according to Rzeczpospolita.
Moreover, the new facilities emerge more often in smaller towns. In 2011, the supply of a new retail area will total to 550,000 m2, including the new complexes of the area of 200,000 m2 which were already put into use, i.a. Galeria Sloneczna in Radom, Galeria Twierdza in Zamosc and Galeria Leszno in Leszno. In larger cities, the construction of Galeria Kaskada in Szczecin is to be completed soon, while Silesia City Center in Katowice is being currently expanded. Moreover, Wolf Bracka, a new shopping gallery, is to be opened in Warsaw.
In turn, the retail offer of smaller towns will be widened by Galeria Echo in Kielce, Torun Plaza in Torun, Millenium Hall in Rzeszow, Galeria Ostrovia in Ostrow Wielkopolski and Galeria Tecza in Kalisz.
Not all centres will be commercialised 100%; however, the situation is better than in 2010 or 2009. The strategic tenants are mainly such companies as supermarkets chains, such as Tesco, Alma or Piotr i Pawel, or large clothing brands, such as H&M, C&A or Reserved, according to Szymon Lukasik from Cushman & Wakefield, a consulting company.
According to Dominika Jedrak from Colliers International, another real estate services company, quoted in the newspaper, there were around 920,000 m2 of modern retail space constructed in Poland by the end of H1 2011, of which 400,000 m2 is planned to be put into use by year-end. In turn, Karina Kreja from CB Richard Ellis, another company from the branch, quoted in the newspaper, stated that the total supply of new retail area may total to 550,000 m2 in 2011. By the way of comparison, in 2010 it was only 360,000m2. Still, the results are weaker than in 2007-2009, when the amount of new retail area totalled to between 625,000 m2 and 850,000 m2. However, the new projects are usually less risky and better prepared, compared with those that emerged during the boom.
According to the specialists from Cushman & Wakefield, the construction of a new shopping centre of the area of 25,000 m2 may cost around PLN 240m (€58m), including the costs of a plot and financing.
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