Spain, bronze medal in the podium of the countries that will open more shopping centers until 2020. Our country will incorporate 300,000 new square meters of commercial space until 2020, through six new projects, which is the second largest portfolio of projects in Western Europe, according to the European Shopping Center Development study Report of Cushman & Wakefield. Spain is above other countries such as Italy, Germany, Finland and the United Kingdom and shares the podium behind Poland and France, a ranking that is led by Russia and Turkey.
The report reveals that Madrid is the city in Spain where more square meters will be inaugurated in commercial spaces, with a total of 130,000 m2. The city is, in addition, the third of the EU where more shopping centers will raise the blind until 2020. France, meanwhile, is for the fourth consecutive year the country of the EU that more shopping centers built, reaching 169,000 square meters in 2018 .
In Europe, the opening of new shopping centers has fallen by 28% (2.64 million square meters) in 2018, the lowest figure in 24 years and comparable with the volumes delivered at the beginning of the nineties, when they had place the first openings of traditional shopping centers in Central and Eastern Europe.
However, although the pace of new openings has slowed in the last five years, the total size of the European market continues to rise, reaching 168 million square meters. "The shopping centers, currently, are focusing their efforts on adapting to the new trends and needs of consumers, reforming and remodeling their facilities to turn them into more sophisticated and modern leisure and shopping spaces. This is the case of the Parque Corredor Shopping Center, currently under renovation. Or the Ruta de la Plata shopping center in Cáceres, where a comprehensive reform is also being developed by adapting the surface of the Hypermarket and attracting new commercial brands that complement the current retail offer of the city. If we talk about the north of the country, Bilbao has also undergone a major renovation of the Zubiarte Shopping Center this past year, where it has been precisely adapted to the old space to a more modern and functional, "says Cristina Pérez de Zabalza, Director of Retail Leasing in Spain.
The study by Cushman & Wakefield highlights that the Spanish market of shopping centers is experiencing a moment of maturity, where there are opportunities to create innovative projects with leisure proposals, such as X-Madrid, which will be inaugurated soon and aims to improve the experience of visiting its clients uniting traditional aspects of the shopping centers and other more innovative ones.
Read the full report here