Pólus Center Energy Consumption Down, Visitors up in 2022
Despite economic challenges, Pólus Center managed to increase its traffic and reduce its energy consumption last year, according to a press release sent to the Budapest Business Journal.
Last year was a challenging period for the retail sector determined by global economic processes such as the energy crisis, strong inflationary effects, rising fuel and utility prices, and increased economic uncertainty, which led to a decrease in household purchasing power. The past six months of recession had a significant impact on the commercial sector, but the dramatic decline in consumption predicted by economic experts did not occur.
In 2022, Pólus Center managed to achieve a 10% increase in visitor numbers and a 25% increase in turnover compared to the previous year. Its rental occupancy rate stood at an exceptionally high over 96%.
Keeping up with the times, the shopping center also implemented a number of energy modernization projects in the past five years, leading to a 53% fall in gas consumption, and a 30% decrease in electricity consumption by the end of 2022.
The owner of the Pólus Center, CPI Property Group, recognized the need for diverse utilization of time spent in the mall, and the importance of experiential shopping, and therefore decided to create several communal spaces for visitors last year. The Pólus Trust Library, cozy coworking office, and Chill Zone playroom for children all proved to be popular among visitors.
The shopping center anticipates that the predicted economic recession for 2023 will not hinder its strong industry position, and they expect further growth in turnover as well as the opening of new stores.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
