Total shopping centre floorspace in Europe increased by 3.3% over the twelve months to the end of 2014 totalling 152.3 million sq.m. Although Western Europe currently accounts for 69% of total built GLA, development activity in Central and Eastern Europe (CEE) surged ahead in H2 2014, with 2.2 million sq.m of space delivered to the market compared to 981,000 sq.m in Western Europe. Russia – responsible for nearly half of all shopping centre space added in the last six months of 2014 (1.6 million sq.m) – has now become the largest market in Europe, with total floorspace at over 17.7 million sq.m and overtaking France with 17.66 million sq.m of built shopping centre space. The UK takes the third position with 17.1 million sq.m of built space.
Source : Cushman & Wakefield