The market registered limited deliveries in 2021, at least with the bumper 2019 year, as the pandemic caused delays in mall and commercial park construction works. Also, building materials prices skyrocketed in the last six months, which slowed down planned retail developments. However, retail schemes with a total area of over 100,000 square meters were launched and this value is set to be overshot in 2022, in line with existent data.
Of the 10 new shopping centers to be launched this year, six are retail parks built in smaller cities such as Giurgiu, Turda or Vaslui.
“For 2022, developers have announced they planned to deliver new retail projects with a total area of above 100,000 square meters,” says Vlad Saftoiu, research analyst at real estate consultancy Cushman & Wakefield Echinox.
“The trend is fuelled by developers’ appetite for retail park investments in cities with less than 100,000 inhabitants. This type of project has gained ground as consumers prefer shopping in formats with easy and fast access,” he adds.
Besides new projects, 2022 will also bring the launch of two expansions of already existent shopping centers. In Bucharest, 2022 will witness the expansion of Colosseum Mall and in Craiova Catinvest will open the new wing of Electroputere mall.
(English version by Catalina Apostoiu)