“An area that has not been covered so far is the northwest part of the city, which has potential both in terms of infrastructure and in terms of residential development,” says Oana Iliescu, managing director of real estate company DTZ.
“This is probably one of the few places where a shopping center can open. There is also the central area with its Casa Radio (Radio House – a former communist unfinished structure that was once supposed to accommodate Romania’s public radio station i.e.), a project that can be used for this purpose.”
Ali Ergun Ergen, who used to run Plaza Romania and Baneasa Shopping City in Bucharest, believes demand from customers is what dictates the opening of new malls.
“It is very much up to demand and competition on the market.”
Bucharest is a big city so many malls can still open, he added.
Bucharest is now getting ready for the opening of two new shopping centers – ParkLake Plaza (a EUR180 million investment in the eastern district of Titan) and Veranda (under development in Obor, close to the city center). There are seven malls in operation in the city at the moment.
(English version by Loredana Fratila-Cristescu)