In a video interview recorded at CEE Property Forum 2025 in Vienna, Marek Noetzel, COO of NEPI Rockcastle and incoming CEO from April 2026, shares his outlook on retail trade across the region, the company’s growth strategy and his priorities for the next phase of leadership.
How do you see retail trade in 2026 in the region?
We are quite positive about the turnover our tenants will generate. This is closely linked to economic growth, and we are seeing encouraging GDP forecasts across the region. Growth in disposable income is also expected to continue outpacing Western Europe, often at double or even triple the rate. All of this makes us optimistic about the year ahead.
Poland stands out as one of the fastest‑growing economies in Europe, potentially the fastest, with projected growth of more than 3.5 percent. It may be the standout performer, but other countries in the region — many of which have delivered strong growth over the past 10 to 15 years — are also expected to continue outperforming Western Europe.
What are your plans to track these expectations? Are you planning to invest more?
Growth is one of our fundamental principles. We talk about it every day. We can grow through acquisitions, and we are ready to buy, although we remain selective. We already have a list of targeted opportunities that we are actively monitoring.
At the same time, we continue to advance our development pipeline. We have two greenfield projects for which we are currently securing building permits, and our aim is to start construction as soon as possible. We are also extending existing shopping centres and reinvesting across our portfolio. Together, these growth engines drive the company’s overall expansion.
You will be taking over as CEO on 1 April 2026. As the new CEO, what are the three key issues you would like to focus on?
I have the privilege of working closely with Rüdiger Dany, our current CEO, and we share the same values and strategic vision. Therefore, no radical changes should be expected. We have aligned on a five‑year strategic plan at the executive level, and maintaining continuity will be essential.
My focus will be on ensuring that we are present where the opportunities emerge. We must continue to be ambitious while also securing the resources needed to finance our plans and create value.
Ultimately, my goal is to significantly increase the gross asset value of the portfolio compared to where we stand today.
