Shopping centre developments in Europe sink to record low

Shopping centre completions across Europe in 2018 plunged by around 28% year-on-year to a 24-year low. Around 28m sq ft of new shopping centre space across the continent was completed during 2018, according to the latest research from Cushman & Wakefield. This reflected the lowest level of completions for 24 years, and sat on a par with volumes recorded in the early 1990s, when the first traditional shopping centres in Central and Eastern Europe were opening. In Western Europe, the amount of completed new shopping centre space fell by 23% year-on-year, while there was a 31% decline in Central Europe.