The report from the Polish Council of Shopping Centers “Market of Commercial Buildings in Poland” shows that at the end of the first half of 2024, the area of Polish commercial facilities reached 13.5 million sq m GLA. Altogether, in the first half of 2024, an additional 190,000 sq m GLA was added. As a result, the saturation of commercial space amounted to 359 sq m per 1000 inhabitants.
– In the first half of 2024, 15 new shopping facilities were opened in Poland, and another 5 were expanded or modernized. By the end of June 2024, the modern commercial area reached a size of 13.5 million sq m GLA. The new supply was dominated by facilities opened in cities below 100,000 inhabitants, which accounts for 75% of the new commercial space. Shopping centers dominate the structure of commercial resources, accounting for 80% of modern commercial space. The share of retail parks is increasing, accounting for 18% of commercial space, while 2% are outlet centers – says Marcin Klammer, CEO of the Polish Council of Shopping Centers.
The largest objects put into use in the first half of 2024 were: OTO Park Koszalin in Koszalin (38,000 sq m GLA), Galeria Starówka in Leszno (15,200 sq m GLA) and the S1 facility in Bytom (14,000 sq m GLA). 28 objects with a total commercial area of 270,000 sq m GLA are currently under construction, with the opening date by the end of 2024.
Currently, 52% of the commercial resource area in Poland is located in the 8 largest agglomerations, 24% in cities between 100-400 thousand inhabitants, and 24% in cities below 100 thousand inhabitants.
In the first half of 2024, the commercial real estate market recorded a noticeable increase in investor activity. The transaction value amounted to 1.7 billion euros, an increase of 76 percent compared to the same period in 2023. Of this, transactions related to commercial properties amounted to nearly 497 million euros. Almost 77% of the number of transactions in the retail industry concerned assets worth below 20 million euro – mostly retail parks located in smaller towns. The largest transaction was the purchase of Cromwell’s portfolio (a total of 219,000 sq m GLA) for 285 million euros by the Czech fund Star Capital Finance.
Source: https://ceo.com.pl/rynek-obiektow-handlowych-w-polsce-w-i-polowie-2024-r-28280
