Tuesday, 20 October 2026
Retail parks remain an important part of commercial property development across Central and Eastern Europe, with investors pursuing opportunities in regional cities and smaller towns. Market reports and announcements from September and October 2026 indicate strong development activity in Poland, continued international investment in Romania and further expansion in Czechia. Slovakia and Hungary are experiencing more measured growth, with greater attention to tenant demand and existing property performance.
Poland remains particularly active, with approximately 126,000 sqm of modern retail space completed during the third quarter of 2026, according to Cushman & Wakefield. Retail parks accounted for the largest share, while around 765,000 sqm of retail accommodation remained under construction. Much of this development is taking place in towns with fewer than 100,000 inhabitants, where developers see opportunities beyond the country’s largest cities.
Major completions included OTO Park in Siemianowice Śląskie, with 20,500 sqm, S1 in Rybnik with 19,500 sqm, and Sekunda Retail Park in Włoszczowa with 10,300 sqm. Developer Acteeum Group also reported in September that its completed retail projects exceeded 500,000 sqm, with a development programme of more than 250,000 sqm. The scale of construction demonstrates confidence in regional retail, although competition between schemes is becoming increasingly important.
Polish retail investment also remained substantial. Cushman & Wakefield reported approximately €485 million of transactions across the wider retail sector during the third quarter. Significant acquisitions included 125 Intermarché and Bricomarché stores purchased by Ares Management for approximately €200 million and the Dekada portfolio of 11 retail properties acquired by Appeninn Asset Management Holding and Indotek Group for around €105 million. These transactions involve different retail formats but demonstrate investor interest in properties with established rental income.
Romania is attracting international buyers despite slower development. CBRE estimated modern retail stock at approximately 4.86 million sqm by mid-2026, with retail parks representing around 23%. Approximately 84,000 sqm was completed during the first half, although Colliers subsequently reduced its full-year delivery forecast to 150,000 sqm because of higher costs, weaker consumer spending and project delays.
Recent acquisitions nevertheless demonstrate Romania’s investment appeal. Star Capital Finance purchased two NEST retail parks in Moinești and Miercurea Ciuc from RC Europe for almost €40 million. The properties comprise approximately 24,000 sqm of leasable space. In an October interview, CEO Josef Malíř explained that competition for investment properties in Czechia had encouraged the company to examine opportunities in Romania and Poland.
The Czech Republic continues expanding its retail park network. Cushman & Wakefield reported approximately 1.42 million sqm of existing accommodation during the second quarter, with prime rents reaching €17 per sqm per month. Earlier research anticipated almost 90,000 sqm of new retail park space during 2026. Developers are increasingly targeting smaller towns, although household spending and competition from existing properties remain important considerations.
Slovakia recorded approximately 12,000 sqm of retail park completions during the second quarter, including developments in Stropkov, Chorvátsky Grob and Detva. CBRE identified a further pipeline of approximately 56,000 sqm across ten retail projects scheduled for the remainder of 2026. Prime rents remained around €16 per sqm per month, while prime investment yields stood at approximately 6.75%.
Consumer spending remains a consideration in Slovakia. CBRE reported higher visitor numbers at shopping centres during 2026, although tenant sales were broadly unchanged. While these figures do not directly measure retail park performance, they indicate cautious spending. Shopper Park Plus also reported weaker trading conditions in its Slovak properties compared with several neighbouring markets.
Hungary is placing greater emphasis on improving existing properties. In September, Gránit Asset Management announced an expansion of its ZONE Retail Park in Budakeszi, near Budapest, adding approximately 4,300 sqm of leasable space by October 2027. Shopper Park Plus also reported Hungarian portfolio rental income of €10.9 million during the first half of 2026, compared with €9.2 million a year earlier, although this does not necessarily represent equivalent rental growth at individual properties.
Across the region, retail parks are increasingly incorporating restaurants, fitness centres, healthcare services and other local facilities alongside supermarkets, discount retailers and household goods stores. This broader tenant selection can encourage more frequent visits and provide landlords with additional income opportunities.
However, continued expansion is increasing competition in some regional markets. Poland’s substantial construction pipeline, further development in Czechia and Romania’s growing retail network raise questions about how much additional shopping space smaller towns can support. While current evidence does not indicate widespread oversupply, local population trends, household expenditure and competing retail facilities are becoming increasingly important to investment decisions.
The latest developments suggest that retail parks remain attractive, although opportunities differ between countries. Poland leads in reported construction activity, Romania is attracting international acquisition capital, and Czechia continues developing regional shopping destinations. Slovakia offers relatively stable conditions, while Hungary demonstrates the potential of improving established properties. Across all five markets, future investment performance will depend on maintaining occupancy, attracting suitable tenants and generating sustainable rental income.
Source: CIJ.World Research & Analysis Team
