CUSHMAN & WAKEFIELD ESG REPORT 2022
During Q4 2022, the retail market registered the completion of new projects consisting of 20,000 sq. m GLA, bringing the total 2022 supply to almost 100,000 sq. m GLA, a level in line with the last few years. Moreover, almost 600.000 sq. m of new projects are currently under different stages of construction and expected to be delivered by 2025. The development activity will be dominated by shopping centers, which account for more than 60% of the total new supply expected to enter the market by 2025. This is in contrast with 2022, when retail parks had a share of more than 80% of the total new supply.