Retail deliveries in Romania will return to a positive trend in the second half of 2018, when at least 90,000 square meters will be delivered in four cities, with no openings scheduled for Bucharest, according to Cushman & Wakefield Echinox.
Ploiesti Shopping City, developed by Carrefour Property Romania and NEPI Rockcastle, has announced an investment of €1 million in remodelling its food court area.
Total retail stock in Poland now stands at nearly 14.0 million sqm with shopping centres accounting for 71% (9.9 million sqm), followed by retail parks and warehouses with 27% (3.8 million sqm) and outlet centres coming in with 2% (0.25 million sqm). JLL summarised H1 2018 on the retail market in Poland.
A good location is the key to success in retail. It may, however, take some time before a suitable store is found for a brand entering the Polish market. Most brands want to open their first stores in Warsaw. That’s why retailers would rather wait than start off somewhere else, says Szymon Łukasik, Head of Retail Department at Cresa Poland.
Tesco and Carrefour have announced their intention to enter into a long-term, strategic alliance. The alliance will cover the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. It will be governed by a three-year operational framework.
Shopping centres remain the dominant retail format on the Polish market. Poland now has more than 420 shopping centres that provide 10.5 million sqm, accounting for 73% of the country’s total retail stock. Retail experts at Cresa Poland analysed the Polish retail market
19 % of all existing shopping centres in the Czech Republic have been refurbished to date. Further revitalizations are yet to be completed, according to Cushman & Wakefield.
Nova Imobiliare announced the €30 million expansion of Colosseum Mall, in the north-western area of Bucharest. Construction is scheduled to start later this year and the inauguration will take place in the first half of 2019.
MAX Immo has been appointed as an exclusive partner for the leasing of City Palais building situated in Prague’s “Golden Cross”. Redevco, the owner of City Palais commissioned MAX Immo to secure the leasing. The building provides office, retail and residential space on an area of 7,500 square metres.
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