Currently there are around 370,000 square meters of retail space under construction in Romania to be delivered in 2011-2013, with less than one third to open this year, the report noted.
The modern retail stock stands at 2.23 million square meters and is estimated to increase to 2.6 million square meters in 2013 (some 120 square meters per 1,000 inhabitants).
“Considering the economic growth forecast for 2013-2015 and investors’ confidence in the future of Romanian retail market, the expansion (of foreign retailers) is bound to continue over the coming months,” CBRE Romania said.
Among the biggest deliveries of retail space scheduled for the second half of 2011, CBRE highlights the Maritimo Constanta project, the European Retail Park in Botosani and the Galleria project in Arad.
Monthly prime rent remained stable at EUR70 per square meter for on-street retail spaces and at EUR50 per square meter for shopping centers, the report noted.