Poland

Polish Real Estate Market
Rema 1000 and Globi. From 1996 on,
Poland has seen a rapid expansion of
major hypermarket chains such as Tesco,
Hypernova, Carrefour, Auchan, Géant, E.
Leclerc and Real. Simultaneously, some
supermarket chains retreated (e.g. Billa),
some were sold (e.g. Hit, Géant, Leader
Price, Hypernova, Real) and a few new
strong brands appeared (Aldi, Alma, Piotr i
Paweł, Simply, MILA, Bi1 replacing eight Real
and two Auchan hypermarkets). Moreover,
an expansion of discount stores represented
by Lidl, Plus Discount, Netto, Kaufland and
Biedronka has been observed. Information
concerning the retreat of Tesco chain from
Poland and three other Central European
countries remained unconfirmed.
The major hyper and supermarket chains in
terms of sales revenues include: Metro AG
(Makro Cash & Carry, Media Markt, Saturn),
Jeronimo Martins (Biedronka, Hebe), Tesco,
Carrefour, Auchan Group (Auchan, Real,
Simply), Schwarz Group (Lidl, Kaufland),
Emperia Holding (Stokrotka, Milea), ITM
(Intermarche, Bricomarche), E. Leclerc.
Moreover, some of the largest hypermarket
operators like Tesco or Carrefour have
been introducing new formats such as
mini-hypermarkets and supermarkets (e.g.
Carrefour Express and Carrefour Market).
In 2015, Polish government began works
on a new large-surface shops tax, that
would help small, local shops compete with
large trade entities, by taxing shops with an
area larger than 250 sqm. At the moment,
after consultation with experts from
domestic trade networks, the government
prepares new draft, in which the shop
taxation is progressive and depends on the
turnover.
Currently, the total modern retail supply
accounts for around 13 million m 2 . More
than 70% of the total modern space is
provided by shopping centres, while retail
parks and outlet centers account for 27%
and 3% respectively. Although the largest
share in the retail market is held by Warsaw
followed by other main cities such as
Silesia, Tri-City, Wrocław, Poznań, Łódź,Tri–
City, Poznań, Wrocław, Kraków, Łódź and
Katowice, investors have been seeking
opportunities in smaller cities, as more and
more projects are being opened and built
in towns with less than 50,000 inhabitants,
such as: Sochaczew and Jarocin
(Multishop), Brodnica (Dekada), Żary
(Stop.Shop), Oława (MyBox), Radzionków
(Cydr retail park) or Czerwionka Leszczyny
(Centrum Zakupów). Retail market
continues to grow in smaller cities like
Świnoujście (Galeria Corso), Sanok (Galeria
Sanok), Leszno (Galeria Goplana), Lublin
(Tarasy Zamkowe), Jelenia Góra (Galeria
Sudecka, Nowy Rynek), Starogard Gdański
(Galeria Neptun), and Stalowa Wola (Galeria
VIVO!).
Modern retail space completed in 2015
amounted to around 500,000 m 2 , which is
a 10% increase compared to last year. Major
new openings with space above 20,000 m 2
included SuperSam (Katowice), Sukcesja
(Łódź), Zielone Arkady (Bydgoszcz),
Tarasy Zamkowe (Lublin), Galeria Neptun
(Starogard Gdański) and Galeria Galena
(Jaworzno). The retail market in Poland is
likely to continue to benefit from stronger
domestic and investor interest. Currently,
more than 560,000 m 2 of modern retail
space is under construction, 94% of which
constitutes for shopping centers, with 10-
15% projects being extensions.
12 | Poland. The real state of real estate