“Almost all the developers present on the local retail market have announced ambitious investment plans for the coming period, proving once again the confidence they have in this real estate segment. We see for the coming years a diversification of the formats they plan to bring on the market,” says Bogdan Marcu, Partner, Retail Agency, Cushman & Wakefield Echinox.
In line with Cushman & Wakefield Echinox, there are projects under construction or planned projects totaling 270,000 square meters in the western region, set to be added to the existent inventory of 1.4 million square meters. Thus, this region will remain the most developed one in terms of built modern retail spaces.
In the eastern region, which totaled a total inventory of 610,000 square meters in late March, new spaces of 137,000 square meters are planned for development, while in southern area, with a 842,000-sqm inventory, announced projects total 156,000 square meters.
In Bucharest, spaces totaling 48,400 square meters are now under construction.
Romania’s total retail space stock reached 4.14 million square meters at the end of the first quarter of 2022.
(English version by Catalina Apostoiu)