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Strong shopping centre pipeline

Eurobuild CEE 14 November 2017

EMEA About 11.1 mln sqm of shopping centre space is currently under construction across the EMEA region, according to CBRE. The largest pipeline is in Turkey (2.2 mln sqm) and UAE (2 mln sqm).

Across Europe, the Eastern European countries are the most active shopping centre development markets, with Russia, Poland and Ukraine all showing strong development pipelines. Russia’s development pipeline currently stands at 1.9 million sqm which is largely due to an improving economy coupled with strong forecasted retail sales which is starting to improve developer sentiment. “After a significant downturn in completions this year, we expect a market recovery in terms of supply. About 700,000 sqm is to be delivered to the market in 2-3 years – mostly large shopping centres. Then we are likely to see structural changes in supply, from big projects to smaller buildings,” commented Vasiliy Grigoriev, an associate director in the research department at CBRE in Russia

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