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Jones Lang LaSalle, REAS and GfK Polonia have published report "Warsaw Retail: Mind the Gap&quo

Jones Lang LaSalle, REAS and GFK Polonia have recently published a report, indicating the regions of Warsaw having further development potential with respect to shopping centres. The “Warsaw Retail: Mind the Gap” report was jointly prepared by three companies – leaders in their market area, that is: Jones Lang LaSalle – the leading financial and professional service firm specialising in commercial real estate’ REAS – the leading company in the residential market; and, the research institute GfK Polonia. Three key elements driving the success of retail centres have been assessed. These are: retail density in Warsaw to date, current spending power patterns, and future residential development trends. Anna Bartoszewicz-Wnuk, Head of Research and Consulting at Jones Lang LaSalle comments “We are of the view that it is a good moment to start a new retail project in Warsaw, the opening of which would coincide with the economic recovery over 2011 -2013.” Maximilian Mendel, Senior Consultant at the Investment Advisory Department at REAS emphasized that “for the city to develop harmoniously, retail provision should follow the intensive housing development in several Warsaw districts, satisfying the needs and improving the quality of life for the new habitants.” Grzegorz Adamczyk, Business Development Manager at GfK Polonia comments “The capital’s inhabitants still dispose a greater spending power than compared to other Polish cities and regions. At present, the so called statistical Warsaw inhabitant can allocate above 60% more funds on goods and services per year than an average Pole. There are some regions in Warsaw whose inhabitants have spending power almost double the country average.” The report identifies four regions, i.e. Warsaw’s districts, in which the combination of the three above mentioned aspects indicates the potential for shopping centre development. These are: Białołęka, most notably Tarchomin/Nowodwory, Wilanów, Ursynów/Kabaty and Bielany. At the time, the report does not undermine the feasibility of shopping centre development in other Warsaw regions or the extension of existing projects. It focuses on the regions with greatest potential. Full version of the report to be downloaded below. Information on companies: Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specialising in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 121 million square metres worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com. For further information, please visit our Web site, www.joneslanglasalle.eu│ 200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619 REAS is expert advisor in the field of housing projects planning and development. Since 1997 REAS has been advising developers, funds, banks, local governments and other institutions on the Polish housing market. REAS partners, as advisors to the World’s Bank and Government of Poland, have taken an active part in housing sector reforms. REAS systematically monitors residential market of the major Polish cities. REAS conducts also advanced research projects including long-term prognosis, supporting strategic planning processes of the companies which operations depend in any way on development of residential market. REAS supports developers in every stage of the investment process, advising at financing, development of a product for the best market potential as well as its successful commercialization. GfK Polonia: Established in 1990, GfK Polonia Institute is the Polish division of an international group of research companies operating under the common name of GfK. The GfK Group has a total of 115 companies operating in 100 countries on 5 continents and employing 10,000 persons in total. The GfK Group is the No. 4 market research organisation worldwide. GfK Polonia Institute is a research centre which delivers complex data on the markets of consumer goods, business to business and services. With their help, the companies operating on those markets learn specific consumer habits, behaviour and preferences. GfK Polonia conducts all types of market research and opinion polls for its clients, using both its knowledge of the Polish market and all the intellectual and methodological assets of the GfK Group. In 2008, the annual turnover of GfK Polonia reached PLN 65.1m (2007: PLN 61.6m), and the Institute ranked third on the Polish market. In its research activity GfK Polonia complies with the highest standards and follows the ethics code of ESOMAR – The World Association of Research Professionals. GfK Polonia is a founding member of PKPJA (the Interviewer Quality Control Scheme), and follows the standards set by PKPJA in all the research categories.

Added by admin April 11, 2010 (11:03PM)

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