Approximately 100,000 sq. m of retail spaces were delivered last year in Bucharest, Timisoara, Pitesti, Turda, Baia Mare, Slatina and Miercurea Ciuc, with retail parks having an 80% share.
New projects consisting of 20,000 sq. m GLA were completed in Q4 2022 and the total retail stock across Romania reached 4.2 million sq. m at the end of 2022, with 56% of it being located in shopping centers, 38% in retail parks and 6% in commercial galleries.
The new supply will significantly increase in 2023, as over 230,000 sq. m of retail spaces are currently under construction and are planned to be completed by the end of the year, says Cushman & Wakefield Echinox.
Around 40% of this pipeline is in line to be completed by the end of the year. Prime Kapital – MAS REI, NEPI Rockcastle, Scallier, AFI Europe or Oasis remain among the most active developers.
Almost 600,000 sq. m of retail spaces are currently in different planning stages and are expected to be delivered between 2023 and 2025.
Key retail projects delivered in 2022
| Property | Submarket | Area (sq m) |
| Prima Shopping Center | Sibiu | 70,000 |
| Promenada Craiova | Craiova | 63,700 |
| Mall Moldova | Iasi | 53,700 |
| Arges Mall | Pitesti | 51,300 |
| Promenada Mall (extension) | Bucharest | 34,000 |
| AFI Arad | Arad | 29,400 |
| Alba Iulia Mall | Alba Iulia | 29,000 |
| IMGB Value Center | Bucharest | 28,000 |
| Shopping Park Pitesti | Pitesti | 22,500 |
| Brasov Value Center | Brasov | 19,800 |
Major retail projects in pipeline 2023-2025
| Property | Submarket | Area (sq m) |
| Prima Shopping Center | Sibiu | 70,000 |
| Promenada Craiova | Craiova | 63,700 |
| Mall Moldova | Iasi | 53,700 |
| Arges Mall | Pitesti | 51,300 |
| Promenada Mall (extindere) | Bucharest | 34,000 |
| AFI Arad | Arad | 29,400 |
| Alba Iulia Mall | Alba Iulia | 29,000 |
| IMGB Value Center | Bucharest | 28,000 |
| Shopping Park Pitesti | Pitesti | 22,500 |
| Brasov Value Center | Brasov | 19,800 |