Thinking big

Buy, develop and then, best of all, sell. This is the credo behind the next stage Polish retail centres have moved to. Promenada and Reduta in Warsaw are the prime examples A retail developer's task does not end when a building is completed, tenants are found, agreements signed and rents regularly collected. Increasing competition, evermore demanding tenants, or the desire to double income, force developers to constantly upgrade their property and extension is one of the options. Experts claim that the market position of those centres which cannot be further developed, perhaps because of the size of their plots, is becoming significantly weaker with growing competition. One such example is Klif in Warsaw which is bound to lose customers to the gigantic Arkadia under construction nearby. 6,000 metres to begin with TK Polska Operations announced the extension of its Reduta centre in Al. Jerozolimskie (70,000 sqm) some time ago. At a time when Blue City across the street,