With an impressive 66% growth of retail sales per capita since 2004, Poland stands second to none in Europe. Over the past five years both the retail stock and the retail sales have been growing steadily at the level of 20% cumulatively, according to an analysis released by Cushman & Wakefield. Forecasts for the next decade show a further 40% growth of retail spending per capita, which demonstrates growing affluence of the Polish society.

Plaza Centers N.V. announced that Belgrade Plaza opened to the public on 20 April. The completed centre is 97% let and expected to be fully leased in the coming months. Belgrade Plaza is the 34th shopping centre built by Plaza and its second scheme in Serbia.

From the beginning of April, BNP Paribas Real Estate Poland will take over the management of four IKEA Centers retail parks located in Poland on behalf of the landlord Pradera. The contract will increase the Polish portfolio of managed properties by more than 140,000 sqm. Ultimately, the international property management business line of BNP Paribas Real Estate will manage 25 properties in eight European countries.

Poland’s retail market is likely to grow by 511,000 sqm of space in 2017, including 388,000 sqm in the shopping centre format alone. JLL summarized Q1 2017 on the retail market in Poland. 

NEPI is planning to invest €40 million on the development of a new shopping centre in the Romanian city of Satu Mare. 

HB Reavis has received the green light to start work this summer on Stanica Nivy, a new shopping centre and international bus station in Bratislava, after successfully gaining construction consent. The entire project is being financed by HB Reavis, representing a total investment volume of €345 million.

The EBRD is joining forces with Mid Europa Partners to strengthen Romanian supermarket and convenience chain Profi Rom Food S.R.L. by providing a €25 million equity investment. Profi operates around 523 stores in more than 272 localities throughout Romania. The EBRD’s financing will support a further expansion of the network, particularly into the country’s smaller towns.

The ceremonial laying of the cornerstone for Ada Mall, GTC’s latest retail investment in Belgrade, was held on 6 March 2017. The opening of the 34,000-sqm mall is scheduled for autumn 2018.

pbb Deutsche Pfandbriefbank, Helaba and ING Bank have jointly underwritten an increase to an investment facility, totalling €67 million, to refinance Focus Mall Zielona Gora in Poland. This facility is in addition to a €164 million facility granted by the same banking consortium in 2016, for the Karolinka, Pogoria and Platan Shopping Centres in Poland. The assets are owned by Rockcastle Global Real Estate Company Limited. The transaction closed in February 2017. 

At end-2016, Poland’s total stock of modern shopping centres, including retail parks and outlet centres, reached 11.2 million sqm of GLA across 479 retail schemes. The Polish Retail Research Forum (PRRF) has summarized the retail market in Poland in H2 2016.