Chopping and changing

Aneta Cichla, ‘Eurobuild CEE’: Could you tell me what leasing shopping centres is going to be like in the future? Rafał Pruba, leasing department director, ECE Projektmanagement Polska: Market surveys indicate that the profiles of shopping centres are to undergo some dramatic changes. Lease contracts will be signed for shorter periods, such as for three years – and this will be a requirement of both parties, the landlord and the tenant. Years ago they would sign long-term lease contracts that guaranteed stability to both parties. Now, however, the signing of a ten-year contract might even lead to problems, such as in when the market changes to such an extent that you need to react quickly. Shorter contracts allow for more flexibility. However, they also have their drawbacks – they do not provide the same level of stability. Everything is changing very rapidly these days and terms and conditions have to be adapted to this new environment. I expect that this