Europe's leading developers have slightly fuller pipelines in volume terms compared with 2010, marking a turnaround from the past three years when projects were put on ice or scrapped altogether due to lack of financing. The overall pipeline figure for the top 25 developers in Europe grew by around 5% to just over 21 million m[sup]2[/sup] compared with around 20 million m[sup]2[/sup] in 2010, according to the latest ranking compiled by PropertyEU.
Europe's leading developers have slightly fuller pipelines in volume terms compared with 2010, marking a turnaround from the past three years when projects were put on ice or scrapped altogether due to lack of financing. The overall pipeline figure for the top 25 developers in Europe grew by around 5% to just over 21 million m2 compared with around 20 million m2 in 2010, according to the latest ranking compiled by PropertyEU.
The increase was achieved despite a decline in the pipelines of leading retail developers MAB Development, Multi Corporation and ING Real Estate Development, which dominate the ranking. Indeed, no less than six of the 10 developers in this year's ranking are retail specialists. Retail has clearly emerged as the most defensive segment from the crisis, albeit that the emphasis in western Europe has shifted more emphatically in recent years to refurbishment, extension and redevelopment.
While many players were forced to retreat from the emerging markets of Central and Eastern Europe, those left standing are now consolidating their presence. Plaza Centers ranks fourth overall, thanks to a strong retail development pipeline in Romania in particular as well as Poland, Hungary and Serbia.
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