Projects with a 78,100 sqm-are were finalized in the second quarter, considerably up from the first quarter and the same quarter of 2023.
The development activity was dominated by the shopping center-type format in terms of delivered area.
The stock of modern retail spaces in Romania reached 4.54 million square meters, with malls accounting for 55%, while retail parks and commercial galleries hold a 45% share.
For the second half of the year, the development activity remains consistent, with projects totaling 155,000 square meters being under various construction stages and having the end of 2024 as deadline.
“Romania remains a major destination in CEE for retailers, with developers continuing to invest in new project to support store network expansion plans. (…) The retail sector remains dynamic, so that Romania was, after Poland, the second major beneficiary of new investments of this type in CEE in the first half,” stated Dana Radoveanu, Head of Retail Agency Cushman & Wakefield Echinox.
Overall, in CEE, 360,000 square meters of retail spaces were delivered.
(English version by Catalina Apostoiu)