The report notes that in Europe generally, the trend towards increasing shopping centre floorspace is upwards with 43 million sf due to be opened by the end of this year. This is a resumption of the upward pattern that was briefly interrupted during 2001-2. It will also surpass the previous high of 36.6 million sf of new space opened during 2000.
The location of new centres is very specific however, with major increases taking place in Central Europe as Poland, Hungary and the Czech Republic all show significant growth. Greece too has seen a substantial rise in space, but it starts from the lowest per capita provision on the continent.
In spite of restrictive planning regimes in various European countries, the report concludes that the outlook for the development market is set to remain highly active in the medium term.
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