RETAIL


POLISH MALL MARKET EXPANDS The Polish shopping centre market expanded last year by 374,000 m2 7.95m m2


, reaching at the end of


RETAIL SENTIMENT ‘TO REMAIN DEPRESSED’ Retail sentiment in Europe will remain depressed for the next six months, as shoppers delayed their festive purchases in December until a few days before Christmas. According to a survey by the International


Council of Shopping Centres, retailers struggled to maintain sales volumes, even though footfall and seasonal shopping increased in late December. The Pan European Shopping Centre Executive


Opinion Survey, also known as the ICSC Euro- Shop Index, found that consumers were increasingly expecting sales to begin early, just before shops closed for Christmas, as opposed to a January start to sales. The report also concluded that consumer


behaviour was affected by fiscal issues in several European countries. Pessimism, though, was expected to decrease even within a negative economic environment. E-commerce was not perceived as a threat by


surveyed retailers, none of whom thought its growth would challenge the industry in the coming year.


the year, according to Jones Lang LaSalle. The volume of


floorspace delivered was the lowest since 2004, mostly a result of cautious developers who revised expansion plans and postponed projects early in the financial crisis. Some 16 new


projects and eight extensions, none of which exceeded 50,000 m2


, provided


the new floorspace. The largest


completions included Galeria Rzeszów (47,100 m2


Korona in Kielce (34,100 m2


).


), Galeria )


and NoVa Park in Gorzów Wielkopolski (32,400 m2


IN ASSOCIATION WITH KaDeWe, Berlin


EURO PROPERTY


BSGRE AND SIGNA LAUNCH €2BN JOINT VENTURE BSG Real Estate (BSGRE), a company owned by Israeli businessman Beny Steinmetz, and Austrian real estate investor Rene Benko’s Signa Prime Selection have launched a joint venture focusing on high street retail in Germany. Both companies plan to increase their presence in the German market. BSGRE has also been a co-investor in Signa’s acquisition of the


Highstreet portfolio, which includes Berlin’s largest shopping mall, KaDeWe. Assets acquired previously by Signa, such as the department store


Oberpollinger in Munich, are part of the joint venture, according to a company statement. The total portfolio of the joint venture has a value of more than €2bn.


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