The elimination of all the pandemic related restrictions in March resulted in a consistent initial increase in both footfall and sales in physical stores. However, the high inflation is expected to impact the retail market on the short term, as the overall retail sales growth in H1 2022 has been lower than the corresponding figures for inflation. there is currently a pipeline of around 140,000 sq. m of under construction projects, all due to be delivered by 2025, while other projects totaling around 610,000 sq. m GLA are under different planning stages (Prime Kapital – MAS RE, Scallier or Mitiska REIM being among the most active players), thus confirming the market’s potential for a further robust expansion.
