About 175,000 square meters of lettable space were delivered last year and another 196,000 square meters of retail space should be completed in 2016.
The biggest retail markets after Bucharest are Cluj, Iasi, Constanta and Timisoara. The JLL survey shows retail space density in Bucharest is 444 square meters per 1,000 people.
The stock of retail space will increase to more than three million square meters by yearend, if all the projects announced (196,000 square meters) are completed.
The new retail developments to be delivered in Bucharest this year are Park Lake Plaza (Sonae Sierra and Caelum Development) and Veranda Mall (Prodplast Imobiliare).
Timisoara will get Shopping City Timisoara and Constanta will see City Park expanded, both of which are NEPI projects, while Craiova’s most important retail project will be the renovation of the Mercur shopping center (20,000 square meters).
(English version by Loredana Fratila-Cristescu)