Some 14 million m2 of new retail space will open in Europe by the end of 2015, the equivalent of more than 90 versions of the giant Westfield mall in West London, according to figures released at MIPIM by JLL.
Some 14 million m2 of new retail space will open in Europe by the end of 2015, the equivalent of more than 90 versions of the giant Westfield mall in West London, according to figures released at MIPIM by JLL.
Russia will be the largest single beneficiary, with 3.8 million m2 scheduled for completion over the coming two years, giving it the continent’s largest share of shopping centre space by the end of 2015.
Turkey will also see sustained growth. In 2013 Russia and Turkey claimed 50% of all new mall space across the continent, according to JLL.
Overall, the 7.2 million m2 of new shopping centres scheduled to open in 2014 marks the highest volume since 2008.
