France is the largest shopping centre market in Europe as of H1 2015, with floorspace at just over 17.7 million sq.m. The UK takes the second spot with 17.1 million sq.m of built shopping centre space. Russia – hit by the worst recession since the financial crisis in 2009 – stands in third position with 16.3 million sq.m of built space, with a number of schemes facing downgrades in quality and were thus removed from the analysis.
Shopping centre activity in the CEE region is bolstered by the creation of new sizeable projects. In Western Europe, the market is dominated by developments seeking to meet demand in unserved areas through the opening of small and medium sized shopping centres, as well as enlarging existing schemes to create destinations in themselves offering a wide range of retailers, dining and leisure operators. These trends will continue over the second half of 2015-2016 and indeed spread to other countries, with Sweden, France and Italy also welcoming the opening of new, large-scale schemes.
Source : Cushman & Wakefield