Shopping centre provision across Europe increased by 2.4 mn sq.m in the first six months of 2012, with Central and Eastern Europe accounting for nearly 75% of new space added. An additional 4.5 mn sq.m of GLA is scheduled for completion before the end of the year, bringing the projected 2012 development total to 6.9 mn sq.m. Although this represents an increase on the revised 2011 figure of 6.5 mn sq.m, delays have been reported in several markets, and some of the shopping centres scheduled for completion in the second half may not be delivered on time. The pipeline for 2013, meanwhile, currently stands at 5.5 mn sq.m.
Source : Cushman & Wakefield