The level is way below that of other markets in the region, such as Slovakia (435), Czechia (365), Poland (359) or Hungary (326), reveals the Romania Retail Marketbeat Q4 2025 report conducted by real estate consultancy Cushman & Wakefield Echinox.
The gap shows the local market still has space for development and developers continue investments. Projects cumulating more than 750,000 sq. m GLA are currently in different construction and planning stages, being due for delivery until 2029. If all these projects are completed, Romania’s modern retail stock is expected to exceed 5.6 million sq. m by the end of 2029, an increase of at least 16% compared with the current 4.8 million sq. m.
NEPI Rockcastle, Iulius Group – Atterbury Europe, MAS RE – Prime Kapital, M Core, and Scallier remain among the most active developers, while the investment plans target Bucharest (22% of the total pipeline) and major regional cities such as Cluj-Napoca (38%), Brasov (6%), and Iasi (4%), as well as tertiary destinations including Bacău (9%), Reșița (5%), Sibiu (2%), Galați (4%), Giurgiu (2%), and Tulcea (3%).
Cushman & Wakefield Echinox report shows 2025 was a dynamic year in terms of deliveries, with around 208,000 square meters of commercial spaces completed, 16% above the corresponding one for 2024 and one of the highest ever in Romania.
A total of 10 projects were completed last year, including new schemes and extensions of existing properties, in Bucharest, Iasi, Suceava, Arad, Ploiesti, Hunedoara, Curtea de Arges, Orastie, Sibiu, and Cisnadie.
Notably, Bucharest saw the completion of one of the largest luxury destinations in the country in 2025 – TOFF Galleries (Stirbei Palace) – adding approximately 4,000 sq. m of premium retail space on Calea Victoriei.
In terms of volume, 68% of the 2025 completed spaces were in shopping centers, with the remaining ones located retail parks and commercial galleries — a complete reversal from 2024, when retail parks accounted for 64% of the annual volume.
The only significant rental growth for prime units in Q4 has been observed for high street spaces on Calea Victoriei, which are now quoted at €80 / sq. m/ month (+ 33 % y-o-y, an impressive upward trend which came as a result of a number of major store openings), while the dominant shopping centers in Bucharest and in the main secondary locations achieve rental revenues ranging between € 50 – 90 / sq . m/ month for 100 – 200 sq. m for ground floor spaces.
”The retailers’ expansion appetite remains strong, and Romania continues to stand out as a high‑potential market despite a still‑volatile economic environment. Demand for well‑positioned retail locations is supported by the retailers’ solid performance, as well as by encouraging inflation forecasts, which are expected to strengthen the consumer purchasing power in the coming period. All these factors create a favorable outlook for the retail sector and assist the development plans of both operators and investors,” stated Dana Radoveneanu, Head of Retail, Cushman & Wakefield Echinox.
(English version by Catalina Apostoiu)