MAPIC: Refurbishment becomes major theme in Eastern European mall sector

Acquisition, refurbishment and development strategies for dominant shopping centres in mature and emerging markets have become some of the most recognisable trends in Eastern Europe, Colliers International finds in its latest retail report.

The report, entitled Dominant SC Dynamics: Their Role in the Evolution of Eastern European Retail, reviews each of the sub-regions of Eastern Europe, the buyers, how ownership is structured, investment holding period, the evolution of stock and the impact of etailing on these trends.

While the traditional Central Eastern Europe markets, namely Warsaw, Budapest, Prague and Bratislava, have been considered a safe haven for investment, other sub-regions are quickly climbing up the ladder.

During the last seven years a significant amount of capital has been redirected into the sub-regions of Eastern Europe, Russia and Ukraine, indicating that there is a high level of demand for core and core plus assets in these locations.

Sean Briggs, Colliers International managing director of retail agency for Eastern Europe, said: 'Dominant markets within Eastern Europe’s sub-region of Russia, and to a lesser extent the Ukraine, provide a solid foundation on a number of fronts, with retail in these countries specifically underpinned by a large population, increasing purchasing power and robust consumer spending.'

The full report is attached below and/or here's a link to all the news from Mapic 2013