“There are over 340 shopping centers in Poland, of which 170 are older than ten years. About 100 of these old centers will be modernized by 2014. This rarely happens in Romania,” Ravon told Mediafax.
According to Ravon, roughly a quarter of shopping centers on the local market need upgrading.
“Retailers want to open stores in new retail projects (…) therefore old shopping centers need to undergo modernization.”
Modernization also means replacing unattractive tenants with new ones, able to attract clients, she added.