Around 38% of modern retail stock countrywide is located in ten cities: Constanta, Cluj-Napoca, Iasi, Timisoara, Oradea, Brasov, Ploiesti, Suceava, Craiova and Pitesti.
Modern retail stock currently totals 3.52 million sqm, of which 59% is represented by shopping centers and 41% by retail parks. Of the current modern retail stock, around 51% was developed in he period 1999-2008, CBRE noted.
In the first half of this year, developers delivered 30,000 sqm in retail projects in Bistrita, Focsani, Gheorghieni, Ramnicu Sarat and Vaslui.
Approximately 367,000 sqm are under development and due to be delivered this year and the next, part of 19 projects, of which 13 are new projects and six are expansions.
The largest retail projects under construction are Openville Timisoara with 47,000 sqm; AFI Palace Brasov with 45,000 sqm; Targoviste Mall with 33,000 sqm; Shopping City Targu Mures with 32,900 sqm; Shopping City Satu Mare with 28,700 sqm; DN1 Balotesti with 28,000 sqm; Baia Mare Value Center with 22,500 sqm, and Electroputere Parc Craiova with 22,100 sqm.
Of projects under development, 53% is represented by shopping centers and 47% by retail parks. Also, 18% of the stock under development represent expansions.