Next year, the only shopping center - Géčko Ostrava will open

Prague - Next year, only one shopping center will be opened in the Czech Republic - Géčko Ostrava. In contrast, the year 2020 is expected to see the addition of nearly 130,000 square meters of new retail space. This is based on current data from Cushman & Wakefield.

There are several projects for new centers in the Czech Republic. If their completion is not significantly delayed, the year 2020 will be very strong in terms of new shopping centers. Up to 126,000 square meters of new retail space is expected in the Czech Republic.

A multifunctional project called Savarin will be created in the center of Prague, connecting Wenceslas Square with Na Příkopě and Jindřišská streets. Its total retail space will exceed 35,000 square meters. The OC Letná is also expected to be completed, which has been planned for 2019. In Brno, the Avion Shopping Park will be expanded by approximately 14,000 square meters and the NC Králova Pole center will also see an expansion. A significant addition in the Moravian metropolis will be the complete revitalization of Tesco Dornych. In Plzeň, a new multifunctional project will rise along Americká Street, and in the center of Zlín, the Fabrika project will be developed.

Since the beginning of this year, 57,850 square meters of new shopping center space have been completed in the Czech Republic. This included the expansion of the IGY shopping center in České Budějovice by 9,250 square meters, the expansion of the Chodov center by 35,000 square meters, and the construction of a new shopping center Central Jablonec with an area of 13,600 square meters.

"Experience from newly expanded shopping centers has shown that interest from retailers persists and filling new units in quality projects is not a problem. We have also recorded an increase in the turnover of shopping centers, along with the related visitor numbers," said Jan Kotrbáček, head of the retail leasing team in Central and Eastern Europe. The thriving economy has attracted entirely new brands to the Czech market, such as Vapiano, Tezyo, Tous, Palmers, Boax, and Kazar.

"In construction, two trends dominate. The continuing trend of expanding existing, well-functioning shopping centers. The second trend will be the construction of multifunctional centers in city centers, which will strengthen their historical role and status. Urban centers have always been places for social gatherings, cultural activities, and important events," Kotrbáček added.

According to Cushman & Wakefield, there are 101 shopping centers in the Czech Republic, with a total retail space of 2.325 million square meters. In terms of the ratio of total retail space per 1,000 inhabitants, the Czech Republic (150) lags behind the EU average (240).

In the first six months of this year, the market in Central and Eastern Europe saw an addition of 825,000 square meters, while Western Europe only added 344,000 square meters. However, Western Europe still accounts for more than two-thirds (68 percent) of the total built-up area of shopping centers.