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Experts believe that the pace of commercial developments in Budapest will not slow down in the next few years either. Based on preliminary plans, the development of 300 thousand square metres of new space will be, or has already been launched in various parts of the capital. Notable examples include the 50 thousand square metre KÖKI multifunctional centre planned at the Kőbánya-Kispest metro terminus, the Mundo city centre planned to be completed by 2011 near Bosnyák Square in Zugló, which will include 65 thousand square metres of commercial space, or the new modern shopping centre to be built at the former site of the Buda Skála.
But the Árkád and Europark will also be expanded by 17 thousand square metres each, while Futureal, which is redeveloping a part of the Józsefváros district, will build the Corvin Átrium. The prestigious downtown shopping district will be strengthened among others by the 9 thousand square metre shopping gallery planned by Orco in the former stock exchange palace, and the more than 5 thousand square metre exclusive Paris Department Store, to be completed early next year with the refurbishment of the former Fashion Hall. Spicing up things further will be mixed (hotel-retail) developments, such as the ones being built on the former site of the Press Building on Blaha Lujza Square or in the Ballet Institute on Andrássy Road.
The Western agglomeration, which forms almost an organic whole with the capital, will not lag behind in developments either, with a 100 thousand square metre shopping centre to be built by 2010 within the scope of the Tópark project in Biatorbágy, and Solaris is also building a centre of several ten thousand square metres in Budaörs.
Of course, it will be difficult to surpass the more than 360 thousand square metres of new commercial space that was delivered last , and which brought the total combined retail space of Budapest to more than 18 million square metres by the end of 2007, according to data by GKI Economic Research Zrt. Projects that were completed included the Arena Plaza on the site of the former Horse Racetrack, the Fashion Street in Deák Ferenc Street, which affected the look of downtown, or the V1, which was built on the site of the former ORI headquarters. The already mentioned Western agglomeration of the capital also saw a visible expansion: the latest phase of the Premier Outlets Center in Biatorbágy was opened last year (and the two-level, 16 thousand square metre M1 Outlet Center this year), and the 44 thousand square metre Ferihegy Market Central on the outskirts of Budapest, near the airport, was also delivered in the past year.
