This year’s increase in supply and the value of transactions in the retail sector in Poland have a chance to exceed last year's level, says Walter Herz.

Mitiska REIM has today announced the opening of a new retail park development in the Polish city of Wagrowiec, in joint venture with local partner Karuzela Holding.

LCP Group has received a building permit for another retail park in Rawa Mazowiecka. This is the second project of this type of there owned by the company.

Investment fund NEPI Rockcastle has taken over the stake held by Carrefour in Ploiești Shopping City for an undisclosed sum. Following the transaction concluded in September, NEPI Rockcastle has become the sole shareholder of the shopping centre. 

Retail parks and convenience centers emerged as the most resilient retail sector during the COVID-19 pandemic, with customers putting an emphasis on quick and efficient shopping. The development of the Polish retail market continues apace, with the retail park format taking the lead in terms of stock expansion. In H1 2022, developers completed 183,200 sqm of GLA of new retail space, 66% of which was delivered in the form of retail parks and convenience centers dedicated to everyday, quick shopping. However, another 341,700 sqm of GLA is expected to enter the market by the end of 2022, with retail parks accounting for 53% of this total. 2022 could well be another record-breaking year for this segment in terms of space delivered to the market.

Retail parks are growing in smaller Polish towns, mixed-use facilities and new residential estates provide commercial space in large cities, says Walter Herz.

Immofinanz has opened its eleventh Stop Shop strip mall in Poland. It is located in Zielona Góra, close to the German border.

Polish retail developer Scallier has completed four retail parks in Romania to date, after the opening of a new project spanning 9,000 sqm in Turda in late September. 

The total stock of retail park spaces in Romania will exceed the supply of commercial spaces located in shopping malls if the current investment activity continues, according to a report by real estate consultancy Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance. 

Oasis Retail Development & Consulting, owned by Sibiu-based Klaus Reisenauer and Kurt Wagner, has started the second development phase of the Prima Shopping Center project in Sibiu, following an investment of €30 million.