Number of malls, hypermarkets stagnates
The number of shopping malls and hypermarkets has stagnated in Hungary since 2010, a summary of data released by the Central Statistical Office (KSH) shows, Hungarian news agency MTI reports.
There were 121 shopping malls in the country at the end of 2017, just seven more than at the end of 2010. The number of hypermarkets dropped by two to 164 during the same period. In the capital alone there were 41 shopping centers and 22 hypermarkets at the end of last year.
Under KSH’s nomenclature, hypermarkets must have an area of at least 3,000 sqm and shopping malls an area of at least 5,000 sqm. KSH noted that Hungary introduced a general ban on construction of all retail units with an area larger than 300 sqm from 2012; however, investors and business owners may apply for an exemption to the rule.
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.