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C&W: Tesco is biggest owner of retail area in ČR

ČTK |
7 December 2012

Prague, Dec 6 (CTK) - Retail chain Tesco is the biggest owner of retail area in the Czech Republic, followed by furniture retailer Ikea and domestic developer group InterCora, real estate consulting company Cushman & Wakefield (C&W) said Thursday.

The biggest jumper in the chart is the CPI group owned by billionaire Radovan Vitek and developer ECE. CPI has jumped from last year's 9th position to the 4th place. ECE did not even rank among the first ten last year.

CPI Group is becoming an important player on the retail area market. The domestic market has been dominated by international groups so far, but domestic capital started to gain strength and this trend will continue in the future, C&W executive director in CR and Slovakia Jonathan Hallett said.

Ikea has improved its position by organic extension of its existing outlets, C&W research head Michal Sotak said.

CPI and ECE, on the other hand, grew thanks to purchases of retail area.

The ten biggest companies on the retail area market own 1.85 millions quare metres of rentable area altogether, which is one half of all existing modern shopping area in the Czech Republic. Two years ago, they accounted for 47 percent.

The total rentable area in the retail sector is around 3.7 million square metres.

C&W compiled the chart on the basis of its own data.

The biggest owners of retail area in CR:

Ranking

11/2012
Ranking

12/2010
Change Owner Capital origin
1 1 - Tesco foreign
2 4 +2 Ikea Group foreign
3 2 -1 InterCora domestic
4 9 +5 CPI domestic
5 3 -2 Sallerova vystavba domestic
6 5 -1 CBRE Global Investors foreign
7 6 -1 Immofinanz/Immoeast foreign
8 7 -1 Unibail-Rodamco foreign
9 14 +5 ECE (incl. stake in joint-ventures) foreign
10 8 -2 SeGeCe/Kleppiere foreign

Source: Cushman & Wakefield, December 2012

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