ARTICLES LABELLED WITH TAG retail

The commercial real estate market, together with many other economic areas, after being impacted heavily by the Covid pandemic, is undergoing recovery. These positive indicators are also mirrored in the retail real estate sector. Recent figures indicate that retail parks and convenience centres are recovering strongly as are discount shops, while large shopping centres are reporting increasing footfall levels, optimistic economic outlook; these are the key highlights from Q3 of the year. The analysis of the retail real estate sector was prepared by experts from BNP Paribas Real Estate.

The sector is seeing a recovery following the reopening of the economy. However, a change in the structure of retail formats continues. Increased developer activity will translate into over half a million sqm of new supply by the end of the year.

Nivy mall in Bratislava, a new shopping centre developed by HB Reavis that also includes the city’s new international bus terminal, has welcomed almost 330,000 visitors in the first week following the centre’s opening on 30 September.

Retail parks and regional shopping centres are driving the sector’s growth, suggested speakers during the future of retail panel of CEE Property Forum 2021, Property Forum’s first real-life event back in Vienna since 2019 which was attended by over 400 people coming from countries all over the region and beyond.

Indotek Group has modernised three of its malls, Szeged Plaza, Kaposvár Plaza and Szolnok Plaza, for nearly HUF 2 billion. The property group began its shopping mall renovation programme with the aim of creating buildings even more in line with the needs of tenants and shoppers by modernising the external façades and interior spaces. The three updated malls now await visitors with a modern exterior, a new environment, and new stores and services.

The expansion of Galeria EMKA in Koszalin has started - it will be a new retail park, which will be connected to the existing facility. The new phase will have 9 tenants with an area of approx. 10,000 sqm. The LCP has just signed a contract for the general contracting of the EMKA Retail Park project and the main contractor will be MIRBUD S.A. The planned commencement of works will start in the upcoming week. Currently, the area is being prepared for the first stage of works, which will be the adaptation of the existing infrastructure, and then earthworks will begin, which will take another 2 months.

Trei Real Estate GmbH, an international developer and asset holder for residential and retail real estate, has opened its 27th retail park of the Vendo Park brand in Poland. The property is located in Inowrocław in the Kuyavian-Pomeranian Voivodeship. The town lies on the bank of the River Noteć 100 kilometres north-east of Poznań, has a population of around 70,000 and is renowned for its saltwater baths. The new retail park, which is let to nine retailers as well as to a supermarket, provides a total leasing area of 5,000 square metres and a total of 242 car parking spots. The investment volume adds up to a total of €6.4 million..

Maciej Dyjas and Nebil Senman, Managing Partners at Griffin Real Estate have talked to Property Forum about investing in new opportunities, the future of the retail and changes in the office market.

The trade sector, greatly weakened by the pandemic, has gained a new investment niche. This year, the increased activity of investors, now mainly focused on the construction of retail parks and convenience centres, will result in the largest growth of these facilities in the history of the Polish market.

Retail began to transform well before the COVID-19 pandemic. It has, however, evolved a lot faster than expected and the pandemic has created a whole new environment that all market participants have to learn to navigate. Cushman & Wakefield has issued its latest report “Is Confidence Returning to the Retail Market?” highlighting what the retail market looks like from the perspective of tenants, landlords and customers.