The year 2025 in Poland’s retail real estate market was clearly defined by the expansion of retail parks, which accounted for the vast majority of new supply. By contrast, shopping centre owners focused on refurbishing existing assets and adding new functions that would allow them to compete more effectively for customers’ attention. In 2026, activity in the retail park segment is expected to remain high, although the market is gradually maturing. Shopping centres will continue to develop entertainment-led concepts, including rapidly growing fitness clubs, children’s play areas, and spaces tailored specifically to teenagers.
Retail parks: still the growth engine
Once again, retail parks were the standout performers of the year. A total of 590,000 sq m of new retail space was delivered, and 90% of that volume came from retail parks. Developers are increasingly turning their attention to smaller cities, while the retail park format itself is becoming more diverse—from schemes under 5,000 sq m to developments spanning several tens of thousands of square metres. The largest projects are already comparable to small and mid-sized shopping centres, both in terms of scale and tenant mix.
The tenant structure within retail parks has also evolved. Whereas furniture and home-improvement operators initially dominated this segment, fashion and convenience retail now play a much stronger role. Retail parks are primarily home to chain brands—especially from the fashion sector—but also electronics stores, drugstores, and pet retailers. Discount concepts are also expanding rapidly, reflecting Polish consumers’ continued sensitivity to price. Although the macroeconomic environment stabilized and inflation fell markedly in 2025, disposable income has still not kept pace with the increase in prices.
Shopping centres: upgrading what already exists
In the shopping centre segment, development activity remains limited. Owners are focusing chiefly on re-leasing and modernising existing properties. Around 60% of the market consists of assets more than 15 years old, which creates pressure to adapt them to changing expectations among both tenants and customers.
The structure of retail space is shifting: individual stores are taking larger units, while the number of small boutiques is declining. CBRE analyses indicate that the most active sectors are fashion and foodservice. Although the number of fashion store closures exceeds the number of openings, this has not translated into higher vacancy. New stores are opening on larger floorplates—an approach that mirrors trends seen across other European markets.
Food and beverage offerings continue to expand steadily. The number of restaurants is growing, with Food Hall concepts—popular among both customers and operators—serving as a strong example of this segment’s development. Well-known Food Halls already operating in Warsaw include Fabryka Norblina, Hala Koszyki, Browary Warszawskie, Elektrownia Powiśle, while Montownia operates in Gdańsk, alongside the ongoing modernisation of the Gdańsk Market Hall. At the same time, shopping centres are increasingly introducing entertainment functions. Play zones and climbing walls extend dwell time and address customer needs beyond shopping alone. Examples include Sky Game at Sky Tower in Wrocław and Arcade Bee at Hala Koszyki in Warsaw. The fitness industry is also becoming more active, readily locating clubs in retail properties. Compared with much of Europe, Poland remains an underpenetrated market in this segment.
New international brands and the growth of domestic concepts
In 2025, around 30 new brands entered the Polish market—both international (e.g., Adopt Perfums, Burgermeister, Miramira), including brands returning to Poland (Miniso, GAP), as well as new concepts developed by domestic groups (Worldbox, Boardriders) and formats moving from online into offline retail. The newcomers represent a broad range of categories, including health & beauty (e.g., Adopt, Alensa, Markovo), accessories (Longines, ZAG Bijoux), fashion (Ocean, Carhartt), and specialist food and gastronomy concepts (Bottlery, Omichise). In terms of countries of origin, there is no single dominant geography. Poland remains an attractive market, offering a diverse and high-quality retail real estate stock, a sizeable population, and a strong economy.
Outlook: steady retail parks, a “second life” for centres, high-street growth, and mixed-use projects
In 2026, development activity will still be dominated by retail parks. The past year was another in which roughly half a million square metres of new space was delivered in this segment. Developer activity will remain significant, but the market is beginning to show signs of maturity. New locations will be assessed more rigorously, competition between projects will intensify, and access to attractive land plots will become an increasing challenge.
At the same time, the coming months will bring intensive work on existing shopping centres. Malls are searching for differentiators that will allow them to compete more effectively with retail parks. While footfall has still not returned to pre-pandemic levels, turnover continues to grow. Properties dating back to the early 1990s, in particular, require major changes to remain attractive and to adapt to a shifting competitive landscape. There will be noticeably fewer new shopping centres; instead, the market will see the “second life” of existing assets. Poland already has examples of older centres in highly competitive markets—such as Arkady Wrocławskie and Malta—where new projects with different functions are planned to replace the current schemes.
In 2026, strong momentum is also expected in service and retail premises outside traditional malls and retail parks. Demand from local entrepreneurs and expanding chains is no longer concentrated solely in strict city centres; peripheral districts are also gaining popularity. Tenants are increasingly looking for ground-floor units in residential buildings and in office complexes. These locations provide a natural flow of users—residents and employees—which translates into greater business resilience and more predictable revenues.
Among the most active sectors remain beauty services, healthcare, and education. Foodservice continues to hold a strong position as well—both in neighbourhood formats within residential areas and in premium concepts located in prime urban spots.
Source: CEO.com.pl (original Polish version)
