Four new malls are expected to open in Sibiu, Craiova and Zalau, as well as in Balotesti by yearend, while the other five investments will be completed in the first half of next year, according to real estate consultant CBRE.
The most eagerly awaited projects this year include the Prime Kapital project in Balotesti, the first such development in the residential area north of Bucharest and NEPI-Rockcastle’s project in Sibiu.
“More than 300,000 square meters of retail space are to be completed in the next 12 months, 56% of which in shopping centers, and 44% in retail parks; expansions will account for 16% of total estimated for the coming year,” said Cristina Toros, Senior Consultant Retail Agency with CBRE.
The latest mall to open in Bucharest is ParkLake, in 2016 and so far, there have been no concrete plans for another. The most likely to proceed would be the project at Casa Radio, for which AFI is in talks but nothing concrete has been signed yet to announce an investment there.
Unlike the malls opened so far, which would focus on retail space, on stores, the future shopping centers will pay attention to leisure, to be able to attract and keep customers in the mall as long as possible.
“Developers of shopping centers are investing more and more in common areas where customers can spend their free time and request tenants to open new special concepts, with a greater focus on customer experience. The entertainment and event area is an anchor in the shopping center for both shoppers and future tenants.”
At the same time, while hypermarkets used to be considered the most important tenants, the space allocated to them is shrinking.
(English version by Loredana Fratila-Cristescu)