In the second half of the year, 337,900 sqm of new space were delivered, 97 pct of which was in retail parks. Throughout 2025, 470,500 sqm gla was added, with this format accounting for 94 pct. At the end of December, 538,300 sqm remained to be delivered by the end of 2026.
Small towns drive supply
In the second half of 2025, as much as 67 pct of new retail space was delivered. New supply was created in towns of up to 100,000 people. The share of the eight largest cities fell to 22 pct (from 35 pct in the first half of the year).
From July to December, 35 new retail properties were completed, and 12 existing centres were expanded (46 and 19 respectively throughout the year). The largest project of the second half of the year was the S1 Dąbrovia retail park in Dąbrowa Górnicza (18,000 sqm gla), while the largest new development of the entire year was Designer Outlet Kraków (19,100 sqm gla).
At the end of 2025, retail parks accounted for 22% of the total market stock, while traditional shopping centres accounted for 76 pct.
EUR 862 mln invested in retail
In 2025, 146 transactions were concluded on the commercial real estate market, with a total value of around EUR 4.3 bln. The retail segment accounted for 51 transactions worth EUR 862 mln, representing 20.1 pct of the total volume.
Polish capital accounted for 19 pct of transaction value (second place) and 31 pct of the number of transactions (first place). The largest source of investment was capital from the United States, thanks in part to the acquisition of a portion of the Trei Real Estate portfolio by Ares Management Corporation and Slate Asset Management.
Other significant transactions included the sale of the Libero shopping centre in Katowice to the Estonian company Summus Capital and the purchase of a portfolio of small retail parks by Reticulum Group.
Stable performance of shopping centres
Data for 2025 confirms the stable condition of the market. Turnover increased by 2.1 pct, with almost unchanged footfall (-0.8 pct).
The highest growth was recorded in the following segments: services (+10.6 pct), restaurants and cafes (+6.6 pct), health and beauty (+5.9 pct), and entertainment (+5.3 pct).
The data collected in the report confirms the good and stable condition of the Polish retail market. We are seeing continued investor interest in retail parks, which in the second half of the year developed primarily in smaller towns. The growing share of Polish capital is also encouraging. Despite the development of alternative sales channels, shopping centres are increasing turnover and maintaining stable footfall. Services and segments related to leisure and well-being are experiencing the fastest growth.
Bogda Korolczuk, managing director of the Polish Council of Shopping Centres
The report was prepared by members of the PRCH Retail Research Forum, including BNP Paribas Real Estate Poland, Cushman & Wakefield, GfK (NIQ), CBRE, JLL, Colliers, Savills, Avison Young, and the Polish Council of Shopping Centers.
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