At the country level, the share of retail parks in modern retail stock is constantly growing, at the end of H1 2023 claiming 39% of the market, according to a CBRE report. 

AFI Europe has completed the construction of its first retail park developed in Romania, located in the city center of Arad, with its inauguration scheduled for November 1. 

Cushman & Wakefield has released a summary of retail market conditions in Poland. Approximately 200,000 sqm is likely to be added to the market by the end of this year. Most of that total will be delivered in retail parks that account for 77% of the development pipeline, which will be consistent with the trend seen in recent years. Rental rates are on an upward year-on-year trajectory while the average vacancy rate in the largest Polish cities has dipped by 1.2 pp year-on-year. 

NEPI Rockcastle has officially opened its €136 million Promenada Craiova shopping centre in central southern Romania. 

SES is refurbishing the King Cross shopping centre in Zagreb, Croatia which it has owned and managed since 2018. Construction work to completely refurbish the centre will begin in 2024 following an investment of approximately €40 million. Completion is scheduled for autumn 2025.

Kaufland intends to significantly reduce CO2 emissions in the future in the construction of new stores. Therefore, the retailer is currently testing various alternatives to materials such as concrete and steel at pilot locations. In Bratislava, the company is opening the largest timber store in Slovakia. In Tuttlingen, Baden-Württemberg, a store is being built using recycled building materials including items such as walls, the facade, and the parking lot.

According to the latest data from Cushman & Wakefield, the average retail vacancy rate in Poland’s largest cities currently stands at 3.5%, down by 1.2 pp year-on-year. More importantly, falls were recorded in six out of the eight largest cities, with the availability of retail space at the lowest in Kraków, Łódź and Szczecin. This suggests a gradual retail recovery in Poland, says Cushman & Wakefield. Meanwhile, as the market continues to stabilize, retail landlords should increasingly turn their focus onto diversifying their offer.

Popeyes is to open its first Warsaw restaurant in Złote Tarasy on 21 September. The fast food chain from Louisiana is the seventh new tenant to come to Złote Tarasy in 2023 after such brands as LUSH, Candy Pop, and Hugo. Cushman & Wakefield, which is responsible for the re-commercialisation and property management for the scheme, expects to see more international debuts in Złote Tarasy later this year.

Real estate developer AFI Europe has obtained the LEED v4.1 O+M certification for its AFI Cotroceni mall in Bucharest. The company was assisted by Colliers in obtaining the green certification. 

Focus Estate Fund plans to convert its entire shopping centre portfolio to solar-powered facilities. The first initiative was inaugurated with the installation of solar panels at Galeria Awangarda in Bartoszyce.