Friday, October 26, 2012

Retail Future in Sweden

Credit: Steen & Ström, Emporia Malmö
Retail in Sweden has grown strongly the entire last decade. The economic crises left the area fairly untouched. Most retail branches have fared better in Sweden than elsewhere these last years.
Shopping Centers
Total number of shopping centers is 298, 64 new since year 2000, accounting for 34% or 200 billion SEK of total retail sales.

About 1 million sqm Swedish shopping center development projects in pipeline 2012-2017
324 700 sqm in expansion and 722 300 sqm in new centers.

Retail Future Investments
The next 4-5 years between 30-35 billion SEK will be invested in various new shopping centers and on extensions of existing shopping centers, according to property consultant Lars Backemar. The two largest investors, Steen & Ström and Unibail-Rodamco, account for about half the volume of investment of 30-35 billion SEK with its ongoing and announced projects. The driving investment forces are the ongoing urbanization and migration to urban areas. Only in the Stockholm region, including Mälardalen, a consumption capacity of about 90 billion SEK is expected by 2030. This equales about 30-40 large shopping malls or around 20 super-regional shopping malls such as Emporia Malmö (opened October 2012) and Mall of Scandinavia in Stockholm (opening in autumn of 2015).

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