Slowdown reported in building of new shopping centres in Czech Republic

There has been a marked slowdown in the construction of large shopping centres in the Czech Republic, market specialists Cushman and Wakefield said. Eight new shopping centres should go into operation by the end this year; a year ago developers said they were planning to open twice that number in 2010. A representative of Cushman and Wakefield said that whereas previously building would begin when leases had been signed on 50 to 60 percent of a projected centre, now developers require at least 70 percent before they start construction.