TOTAL LICENSING
Greece has always had a highly localised retail landscape, dominated largely by
kiosks which can be found on virtually every street corner.
However, retail is changing with the advent of new developments and shopping
malls. Tina Stathopoulou, editor of Total Licensing Greece, takes a look at some of
the ambitious plans for the country.
Between them, the Athens Mall and space required varies from 15,000 to trol the 60% of the overall retail sales.
Ikea in Greece enjoyed a turnover 35,000 square metres. As is pinpoint- Secondly, the changes in retail pat-
of around 540 million Euros last year ed in the research by Statback, designs terns increase the problem of empty
– on a par with one of the largest con- for the biggest entertainment and retail stores in the center of Athens.
truction companies in the country. shopping mall in the country are now In some areas, foreign businesses are
In fact, according to research carried underway. The new project comprises absorbing 50% of the available vacant
out in Greece, by 2010 there will be a total of 318.000 square metres and space.
over 1 million square metres of retail is situated in Kantza. Thirdly, one out of the five regions
mall and discount village space – half On average in Europe, there are over designated to be major shopping areas
of which have bee developed between 200 square metres of shopping areas is in the municipality of Athens. Oth-
2008 and 2009. for every 100 inhabitants. In Greece, ers are in Marousi, Halandri, North
Greece is on a major growth cycle in the equivalent is only 55 square me- Psychico and North Ionia.
terms of shopping and retail outlets. tres at present. All of these areas, of course, will
Local and international construction The huge difference between Greece change considerably as a result of the
companies, real estate developers, and the rest of Europe very much construction of the new shopping
major supermarket chains, banks and demonstrates the immense oppor- malls.
others are looking for key strategic ar- tunity that exists for these develop- Following the opening of Athens Mall,
eas that will allow the development of ments in Greece. the biggest shopping center is Golden
major consumer-spending outlets. The However, the development of the new Hall that opened in November.
shopping and entertainment Golden Hall is owned by Lamda De-
malls will, of course, have a di- velopment and is located in Kiffissias
rect impact on price levels and Avenue. It comprises 40.000 square
is likely to broaden commercial metres of retail space and includes 140
activities in a number of ways. shops, 1400 parking spaces as well as
The Athens Association of offices of around 4500 square metres.
Commerce have recently put The overall investment in the project
out some figures that may help has been around 65 million Euros.
understand the way that retail At the same time, construction com-
works and is likely to work pany Vovos has begun work on the
moving forwards. development of a 70,000 square me-
Firstly, the ten biggest chains ter shopping mall in Botaniko. When
represent over 85% of the retail completed the mall is expected to
food sector. The fifteen biggest have over 32,000 square metres on
chains cover the 40% of apparel each of three levels.
and, in the electronics sector, six In addition, a further shopping center
companies control the 78% of is underway. Constructed by Pasal De-
sales whereas four groups con- velopments, the new center will be in
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