Even though Ireland now has the third highest level of shopping centre space per capita in Europe, the pace of shopping centre development activity shows no signs of abating, according to new research from Jones Lang LaSalle.
The global property advisor calculates that Ireland currently has over 1.71 million sq m of shopping centre space, with 47 per cent of this located in Dublin.
And 2006 alone saw over 115,635 sq m of new retail space completed, with Dublin again leading the field with 22,986 sq m of new space.
JLL calculates a further 545,943 sq m is of new retail floorspace under construction in Ireland at the moment, with almost 300,000 sq m of this expected to be completed before the end of this year.
"The study findings show continued strong retail activity in Ireland and this is set to continue for the foreseeable future," said Dr Clare Eriksson, head of research at JLL Ireland.
Have headline rents in shoping centres started to fall?
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