John Cutts, the founder and head executive of commercial estate contractor Parkridge, is continuing his extension into East Europe, the Financial Times announce.
Though the contractor’s initial foresees envisaged enlargement to Poland, due to its key place, he also saw good chance for investment in retail composites in Bulgaria and Ukraine.
7 retail centres have been constructed in Warsaw since Parkridge’s increasion to the Polish market, which means that it might be over- provided soon, the contractor said. He added that the Czech Republic used to offer good potential, but it faced a such a problem of reaching its volume for absorbing commercial locations.
Cutts’ strategy is to focus on smaller cities, with a inhabitants of 100 000 - 200 000 people, where rivalry for retail space is restricted. He also plans to apply his strategy to the Ukrainian and Bulgarian market. Bulgaria has a potential for unveiling 8 commercial centres and Ukraine has capacity for 20 compounds, he comments. He hold up his view by citing the number of towns with a inhabitants of around 300 000 people.
The contractor has declared that he will not invest in shopping centres in large cities such as Kiev. They offer better opportunities for investment in logistic growths instead.
The company also has a sound interest in Romania  and Russia, where it will centralize on industrial space, whereas Kazakhstan offers good possibility for both retail and industrial investment.