A good year for Poland's retail sector
According to JLL, retail stock in Poland is over 14 million sqm. Mixed-use projects, retail parks and covenience centres are on the rise. More in the report.
According to JLL, the retail stock in Poland has already exceeded 14 million sq m, and in 2018 alone expanded by approximately 417,000 sq m of new space across all formats. The largest openings this year included the Forum Gdańsk (62,000 sq m), Libero in Katowice (45,000 sq m) and Gemini Park in Tychy (36,600 sq m).
"Poland's retail map contains less "white spots", and the country has strengthened its position as a mature market. This means that developers make their investment decisions more carefully, and many seek new opportunities by focusing on retail parks and convenience centres in order to respond to the needs of customers in smaller cities", explains Joanna Tomczyk, Research Analyst, JLL.
As indicated by JLL, the Polish market recognizes the growing popularity of mixed-use projects which combine offices, shops, entertainment venues and restaurants. This trend is illustrated by the iconic CEDET in Warsaw, which was delivered to market in 2018. Furthermore, the construction works on Centrum Marszałkowska and the next stage of Koneser have been completed as well. 2019 will see the long-awaited opening of Elektrownia Powiśle along with the first phase of Monopolis.
"The stable situation on the Polish market is also confirmed by new brands making their debut in the country. This year, 29 new brands have opened their stores in Poland including Dealz from the Republic of Ireland, Miniso from China and Tedi from Germany. Many companies are also seeking ways to maximize their sales and reach out to their customers through the creation of new concepts, as exemplified by H&M with A 'found, and LPP which has created and continues the development of the Sinsay brand. In addition, the market is seeing the establishment of interestingly designed retail projects, which clearly indicates that we have caught up with Western European countries in terms of quality. This is good news for the Polish consumers, who can expect further enhancement of the commercial offer in 2019", summarizes Anna Wysocka, Head of Retail Agency, JLL.