Polish Retail Market Expands: 15 New Facilities and Major Modernizations Add Nearly 190,000 sqm GLA in First Half of 2024

Data collected by the Polish Council of Shopping Centres indicates that in the first half of 2024, there were 15 new retail facilities over 5000 sqm GLA constructed in Poland, with another 5 being expanded or modernized. These new facilities together have a total retail area nearing 190,000 sqm GLA. The total area of Polish commercial facilities exceeding 5000 sqm GLA by the end of June 2024 has exceeded 13.5 million sqm GLA.

– The dynamic increase of new retail space in the first half of 2024, the opening of new facilities, and the expansion and modernization of existing ones, is another factor confirming the good condition of the retail industry. The dynamics of new investments were already over 30% better in 2023 than in the previous period, and last year’s trend has also been maintained in 2024. This confirms earlier analyses by the Polish Council of Shopping Centers, which indicate that the Polish market still has investment potential, especially in smaller centers with fewer than 100,000 residents, – evaluates Marcin Klammer, Managing Director of the Polish Council of Shopping Centers.

Retail parks dominated this year’s investments, accounting for 92% of the new retail space, while shopping centers accounted for 8%. The most new retail facilities in the first half of 2024 were built in Silesia, where 5 were opened, with a total area of over 50,000 sqm GLA. Meanwhile, the largest new investments were OTO Park Koszalin, Starówka Gallery in Leszno, and S1 retail park in Bytom. Karuzela Holding was the most active investor in the first half of 2024.

In the structure of modern retail space in Poland, shopping centers hold the largest share of 80%, followed by retail parks accounting for 18%, and outlet centers making up 2%. The saturation of the country with modern retail area is becoming increasingly even. Just over half of the modern retail space is located in the 8 largest urban areas, while the rest is concentrated in cities ranging from 400,000 to under 100,000 inhabitants.