Retail space projects currently under construction in Romania total 160,000 square meters.
Projects to be delivered this year include Coresi Shopping City (first phase), AFI Palace Ploiesti, Cora Slobozia, Corall Constanta, Uvertura Mall Botosani and Promenada Mall. The total stock of modern commercial space will exceed 2.8 million square meters and might increase by 6% in the next two years, CBRE Romania said Tuesday.
Some 470,000 square meters of modern retail space are expected to be delivered in Bucharest in the upcoming years, while the development of projects totaling 430,000 square meters has been halted.
Several retail projects, such as Armonia Arad, have been converted into industrial or logistic parks.
For 2014, deliveries will include new shopping centers, located in Bucharest and Brasov.
Romania’s retail space stock increased 44% in the second half of 2012, compared with the first half of the same year, according to CBRE.
Local retail projects amount to 2.7 million square meters, of which 30% (806,000 sqm) are located in Bucharest.