Based on articles in today’s dailies, the number of shopping centers should increase by 70 within the next 2 years in the Czech Republic. Most of these centers should be located in secondary and tertiary cities.
Our view:
Number of shopping floor per 1,000 inhabitants in the CEE and SEE countries is well below the EU average of 166sqm/1,000 inhabitants while c120sqm in the Czech Republic. Therefore, we still see an upside for the centers to be build and in particular in cities outside of Prague. Note that Immoest is planning to build several StopShops in the country.