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The new additions in Q3 2024 amounted to a total of 27,400 sq m.
In terms of composition, we can observe that the split between shopping center and retail park format remained stable as at the end of the previous quarter. Specifically, 60% of the total gross leasable area (GLA) is allocated to shopping centers, while the remaining 40% is dedicated to retail parks.
The growth in supply is primarily driven by the development of retail parks, which are appealing due to their high return potential and more convenient construction. By end of Q4, an additional 62,400 sq m of retail park space is expected to be delivered across eight locations. This includes one extension and seven new projects ranging from 3,300 to 22,500 sq m. The modern retail stock is expected to exceed 4.5 mln. sq m, with the retail park format increasing its share by 1.00 pps in the following three months.