In the first three quarters of 2024, 140,000 square meters of shopping centers and retail parks were completed nationwide.
As a result, modern retail stock in Romania reached 4.59 million square meters, representing an average density of 241 square meters/1,000 inhabitants.
Retail market development activity maintains its dynamism in the coming period, given the consistent plans announced by the main developers on the short and long term, according to Cushman & Wakefield Echinox consultants.
Thus, projects of above 800,000 leasable square meters are under construction or in various stages of authorization. They are scheduled for delivery in the next 5 years.
“Interest in new retail schemes remains high, with an major indicator in this sense being the occupancy rate of projects delivered in recent years, standing above the 90% threshold,” says Dana Radoveneanu, Head of Retail Agency Cushman & Wakefield Echinox.
Bucharest benchmark rents edged up in the third quarter of the year, to EUR90/sqm/month for shopping center spaces and EUR60/sqm/month for streetfront ones.
(English version by Catalina Apostoiu)