Development of shopping centres stagnate in the Czech Republic

2010-07-27

Nearly 300 shopping and entertainment centres of various sizes are in operation in the Czech Republic, according to the Hypermarket & Shopping Centre 2010 study published by GfK Incoma. According to GfK, the development of such establishments almost halted last year and it is unlikely that market will revive this year or in an immediate future.
The study has also unveiled that early this year Czech shopping centres were hosting 2,044 clothing and accessories shops, 774 gastronomic outlets, 637 stores with footwear and leather goods as well as 524 jewellery, watches and gifts shops, 480 stores selling consumer electronics and computers and 442 food stores.
At present, developers are shifting from investing in traditional shopping centres (with an indoor shopping gallery full of small shops) to investing in retail parks (usually located in the outskirts of a town or city) in the Czech Republic. While only one shopping centre, Harp Gallery, is slated for launch this year in the country, eight retail parks are planned to appear, according to Cushman & Weakfield.