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News Release

Warsaw

Warsaw Retail: Mind the Gap


Jones Lang LaSalle, REAS and GFK Polonia have recently published a report, indicating the regions of Warsaw having further development potential with respect to shopping centres.
The “Warsaw Retail: Mind the Gap” report was jointly prepared by three companies – leaders in their market area, that is: Jones Lang LaSalle – the leading financial and professional service firm specialising in commercial real estate’ REAS – the leading company in the residential market; and, the research institute GfK Polonia.
Three key elements driving the success of retail centres have been assessed. These are: retail density in Warsaw to date, current spending power patterns, and future residential development trends.

Anna Bartoszewicz-Wnuk, Head of Research and Consulting at Jones Lang LaSalle comments „We are of the view that it is a good moment to start a new retail project in Warsaw, the opening of which would coincide with the economic recovery over 2011 -2013.”

Maximilian Mendel, Senior Consultant at the Investment Advisory Department at REAS emphasized that “for the city to develop harmoniously, retail provision should follow the intensive housing development in several Warsaw districts, satisfying the needs and improving the quality of life for the new habitants.”

Grzegorz Adamczyk, Business Development Manager at GfK Polonia comments “The capital’s inhabitants still dispose a greater spending power than compared to other Polish cities and regions. At present, the so called statistical Warsaw inhabitant can allocate above 60% more funds on goods and services per year than an average Pole. There are some regions in Warsaw whose inhabitants have spending power almost double the country average.”

The report identifies four regions, i.e. Warsaw’s districts, in which the combination of the three above mentioned aspects indicates the potential for shopping centre development. These are: Białołęka, most notably Tarchomin/Nowodwory, Wilanów, Ursynów/Kabaty and Bielany. At the time, the report does not undermine the feasibility of shopping centre development in other Warsaw regions or the extension of existing projects. It focuses on the regions with greatest potential.