C&W: Europe expects 20% increase in shopping center space in 2008 and 2009 (EUR)

The current shopping center development boom across Europe is set to continue, with more than 22 million m² of new shopping center schemes expected to open this year and next, according to the latest European Shopping Centres Report by global real estate consultant Cushman & Wakefield.

At the top of a 34-strong country ranking of pipeline shopping center space, excluding extensions, due to open in 2008 and 2009, comes Russia with 3.2 million m², followed by Ukraine, Spain, Romania and Poland.

Last year saw 8.2 million m² of new space completed across Europe in a total of 320 new centers and 54 extensions to existing centers. Just over 11 million m² are expected to open this year, and equally in 2009, to bring the total amount of shopping center space in Europe to 134 million m² by the end of 2009

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