Despite the economic slowdown, high-quality retail property in Central and Eastern Europe (CEE) is still attracting strong interest, with investments amounting to €2.4bn in the first half of 2011, driven mainly by Poland and, to a lesser extent, the Czech Republic and Hungary.
Jones Lang LaSalle (JLL) predicts that direct investment will increase in the coming year. Jeremy Eddy, the agent’s head of European retail capital markets, says he experts emerging European markets to see increased investment volumes by the end of the year.
Poland is certainly leading the charge, with an estimated 550,000 sq m of new retail supply space slated for 2011, including the completed Galeria Sloneczna in Radom, Galeria Twierdza in Zamosc and Galeria Leszno in Laszno. But the country is not alone in real estate growth.
Eugene Gerden examines the intricacies of a dynamic CEE market. Click here to read the full article in MAPIC Preview 2011, page 62.
To find out more about the latest trends in this region, why not make a note to attend MAPIC conference “Poland – land of opportunities for investors and tenants: still a key target for international retailers?” on Thursday, November 17, 15.00. The speaker line-up includes Marcin Klosowski of Warsaw Voice, Elżbieta Dmowska Mędrzycka, President of the Polish Council of Shopping Centers, Aleksander Kowalski, Leasing Director of TriGranit Development Polska, and Marek Noetzel, Partner in Retail Department, Cushman & Wakefield Polska.