The two newly opened shopping centers are Mega Mall in capital city Bucharest and Brasov-based Coresi.
A third of Romania’s modern retail stock is in Bucharest. Thus, the modern retail stock sets at 151 square meters per 1.000 inhabitants countrywide, while in Bucharest the average is almost fourfold higher, at 537 square meters per 1.000 persons.
Currently, around 60% of the modern retail stocks are shopping centers, while the retail parks account for 25%, and shopping galleries 15%.
DTZ Echinox forecasts other 100,000 square meters of modern retail stocks will be opened in 2015, including the shopping center in Timisoara, developed by NEPI.
“Given that in most of the Romanian cities with a population over 100.000 inhabitants were developed modern retail projects, on medium term we expect the new investments target third cities. Just as in CEE countries (Poland for example), the small-sized retail parks could be preferred by developers,“ according to DTZ Echinox’s representatives.
(English version by Manuela Panescu)