Europe delivered 3.4 mn sq.m GLA of new shopping centre floorspace in the second half of 2012, taking the total for the year to 5.7 mn sq.m. Central and Eastern Europe accounted for almost 65% of all new shopping centre space added in 2012. The final completion figure for 2012 was significantly short of the 6.9 mn sq.m projected total which was forecast H1 2012. This is largely the result of several markets experiencing delays with developments, which consequently pushed them into the pipeline for 2013. The projected total for 2013 now stands at 7 mn sq.m, with 70% estimated to be delivered in Central and Eastern European markets.
Source : Cushman & Wakefield